stands for Employees’ Family Assistance Plan . It is a social security scheme introduced by LIC to provide financial assistance to the family of an employee who dies while in active service (before retirement).
Unlike standard term plans or ULIPs, LIC EFAP is specifically designed to cater to the savings and protection needs of salaried employees. Whether you are a private sector worker or a government employee, understanding the nuances of LIC EFAP can help you make an informed decision for long-term wealth creation and family security.
No. It is a guaranteed savings plan, unaffected by stock market movements. lic efap
If you are a customer looking for your specific policy reports (such as Premium Paid Certificates or Status Reports), you can use the following official channels:
This is where EFAP truly helps families. The benefits are structured to provide both immediate lump sum support and long-term monthly assistance. stands for Employees’ Family Assistance Plan
(Note: All bonus rates are illustrative only; actual bonuses depend on LIC’s annual declarations.)
By providing a comprehensive guide to LIC EFAP, we hope to have informed LIC employees about this valuable benefit and encouraged them to take advantage of it. If you have any further questions or need additional information, please do not hesitate to ask. Whether you are a private sector worker or
Reduces the risk of human error in financial calculations and policy documentation. Digital Integration: Supports the backend infrastructure for online premium payments and portal updates. licindia.in technical requirements for running EFAP or how it integrates with LIC's newer AI-driven platforms
The software bundle covers nearly every transactional event that can occur during the lifespan of an insurance plan. Its major internal functional areas include:
: Instantly compiles official, 100% accurate quotes for policy revivals, micro-loans taken against policy equity, and early exit surrenders.