| Scenario | Benefit Received | Who Gets It? | | :--- | :--- | :--- | | | Sum Assured (based on salary) + Accumulated Contributions + Bonuses + Loyalty Additions | Nominated family member / Legal heir | | Retirement / Superannuation | Accumulated Employee Contributions + Employer Contributions (if any) + Bonuses – Tax deductions (if applicable) | The employee | | Resignation / Voluntary Retirement | Accumulated employee’s own contributions (with interest) – administrative charges | The employee (employer share may be forfeited depending on rules) | | Disablement (on duty) | Special disability benefit; sometimes the plan continues without further contributions | Employee or family |
Here is the detailed piece regarding the correct term, . lic efeap full form
, a modernized version of this core application, as part of its ongoing digital transformation initiatives. licindia.in for agent use or more about LIC's digital transformation | Scenario | Benefit Received | Who Gets It
Reports generated at branches (like loan quotations) are 100% synchronized with the central LIC system. licindia
As the system evolved to a web-based, centralized platform connecting thousands of branches and satellite offices, it became eFEAP . What Does eFEAP Actually Do?