LIC Act 37Chapter VII · Miscellaneous
Section 37 · Policies to be guaranteed by Central Government
Text size — level 1 of 4
The sums assured by all policies issued by
the Corporation including any bonuses declared in respect thereof and, subject to the provisions contained
in section 14 the amounts assured by all policies issued by any insurer the liabilities under which have
vested in the Corporation under this Act, and all bonuses declared in respect thereof, whether before or
after the appointed day, shall be guaranteed as to payment in cash by the Central Government.
1[Provided that the Corporation shall endeavour that its funds are invested in the attractive schemes formulated by it to ensure increased bonus to policyholders while having least investment risk so as to enable the Corporation to play a greater role in economic enrichment of the masses while maintaining its position as a leading player in the market.]
1[Provided that the Corporation shall endeavour that its funds are invested in the attractive schemes formulated by it to ensure increased bonus to policyholders while having least investment risk so as to enable the Corporation to play a greater role in economic enrichment of the masses while maintaining its position as a leading player in the market.]
Your private note on this section
Only you can see this note.