INFORMATION RELATED TO INSURANCE-I SECTION

LIC Business-

  • Review of the performance of LIC;
  • Laying of Reports of LIC in Parliament;
  • Opening/ winding up of branches of LIC in India;
  • Appointment of Auditors for LIC;
  • Administration of PP Act in LIC and references relating to Estate matters in LIC;
  • Foreign operations/ subsidiaries of LIC;
  • References on Social Security Schemes and other life insurance schemes;
  • Review of performance and making budgetary provisions for various GOI funded schemes such as JanashreeBimaYojana, ShikshaSahayogYojana, VarishathaBimaYojana and AamAadmiBimaYojana;
  • Other Social Security Group Insurance Schemes under LIC;
  • Central Government Employees Group Insurance Scheme;
  • Postal Life Insurance Scheme;
  • Employees’ Provident Fund Scheme;
  • All Government sponsored/ supported schemes in life insurance;
  • Any other life insurance or social security products/ scheme proposals;
  • Others: Appellate Authority constituted under Section 110H of the Insurance Act, 1938;

Coordination work relating to the following Committees:

  • Committee for the Welfare of Women; Committee for the Welfare of SC/ST; Estimates Committee;

Appointments -


LIC -


  • Selection & appointment of Chairman/ MDs, LIC, appointment of Directors on the Board of LIC, appointment of ex-officio members on the subsidiaries of LIC;
  • Permission for foreign deputation of Chairman and MDs of LIC;
  • Permission for commercial Employment after Retirement for Chairman/ MDs, LIC and other executives of LIC;

IRDA -


  • Appointments of Chairperson and Members of IRDA;
  • Service condition of Chairman, Members and employees of IRDA;
  • Budget and Funds of IRDA; Other matters relating to Brokerage agencies, entry of new companies and regulations of IRDA.

Service Matters -

  • Service matters, rules and regulations in all public sector insurance companies;
  • Representations on service matters by employees of public sector insurance companies;
  • Service matters of Development Officers/ Agents/Intermediaries; Wage Revision/ Bonus/ VRS in LIC / Public Sector General Insurance Cos;
  • Implementation of Pension Scheme/ policy matters on commercial employment. Citizen’s Charter of Life Insurance Corporation Ltd.