Insurance business can't be explained in a simple manner than this article. As profitability is a concern, historical numbers would help readers connect it.
As you rightly pointed out the incentive behind money-back plan, breakup of revenue would help to connect it.
It is a well known fact that LIC works for its agents rather than for its policyholders or even the shareholders (till now GoI) which is not going to change quickly.
Insurance business can't be explained in a simple manner than this article. As profitability is a concern, historical numbers would help readers connect it.
As you rightly pointed out the incentive behind money-back plan, breakup of revenue would help to connect it.
Thanks Subramanian :). Yes It would have been better if I mentioned historical numbers but it wasn't available anywhere.
It is a well known fact that LIC works for its agents rather than for its policyholders or even the shareholders (till now GoI) which is not going to change quickly.
Yess Kamal :). Even if they decides to change then I think it's going to be very hard for them to do so.
Deep explaination based on facts
Thank you Sriram :). Glad you found it useful!
Thanks for your detailed artical
Thank you Rahul :). It really means a lot!