Life insurance corporation definition

Life insurance corporation means any association or corporation transacting within this state the business of insurance on the lives of persons or insurance appertaining thereto, including, but not by way of limitation, endowments and annuities.
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Life insurance corporation means the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956);
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Life insurance corporation means any association or corporation
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Examples of Life insurance corporation in a sentence

  • Lower, more intensive caseload ratios will be assigned to community-based living arrangements.

  • Trustees administer contributions made to the Trusts and contributions are invested in the scheme with Life insurance corporation of India as permitted by Indian Law.The Company recognizes the net obligation of a defined benefit plan in its balance sheet as an asset or liability.

  • For example, Reserve e Bank of India State Bank of India industrial finance corporation Life insurance corporation unit trust of India and state trading corporation are some statutory companies.

  • Trustees administer contributions made to the Trusts and contributions are invested in the scheme with Life insurance corporation of India as permitted by Indian Law.

  • Life insurance corporation of India plays a predominant role because of obvious reasons and already lot of studies have been done on it, this research is to study the new entrant in the field i.e. Reliance Life Insurance Company Ltd.

  • Life insurance corporation of India , on retirement or termina- tion of employment based on the last drawn salary and years of employment with the company.

  • The Company has employees gratuity fund managed by Life insurance corporation of India ( LIC)Compensated Absences - The Company provides for encashment of absence or absences with pay based on policy of the company in this regard.

  • The gratuity is paid @15 days salary for every completed year of service as per the Payment of Gratuity Act 1972.The scheme is funded with Life insurance corporation in the form of qualifying insurance policy with premium determined through actuary.

  • The gratuity is paid @15 days salary for every completed year of service as per the Payment of Gratuity Act, 1972.The gratuity liability amount is contributed by the Company to the Life insurance corporation of India who administers the fund of the Company.The liability in respect of gratuity and other post- employment benefits is calculated using the Projected Unit Credit Method and spread over the period during which the benefit is expected to be derived from employees’ services.

  • Example:- Reserve Bank of India, Life insurance corporation of India etc..• Registered Companies:- Companies registered under the Companies Act,2013 or under any previous company law are called registered companies.


More Definitions of Life insurance corporation

Life insurance corporation means any association or corporation including any nonprofit relief association as defined by § 47-2611, transacting the business of insurance on the lives of persons or insurance appertaining thereto, including, without limitation, endowments and annuities.
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Related to Life insurance corporation

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Alaska Native Corporation (ANC) means any Regional Corporation, Village Corporation, Urban Corporation, or Group Corporation organized under the laws of the State of Alaska in accordance with the Alaska Native Claims Settlement Act, as amended (43 U.S.C. 1601, et seq.) and which is considered a minority and economically disadvantaged concern under the criteria at 43 U.S.C. 1626(e)(1). This definition also includes ANC direct and indirect subsidiary corporations, joint ventures, and partnerships that meet the requirements of 43 U.S.C. 1626(e)(2).

  • Nonprofit corporation means that term as defined under section 108 of the nonprofit corporation act, 1982 PA 162, MCL 450.2108.

  • Insurance group means the persons that comprise an insurance holding company system.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

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