across various divisions, zonal offices, and central offices, managing a massive data volume of about 200 TB. Comprehensive Modules : It includes over 60 modules
What is the current (In-force, Lapsed, or Grace Period)?
Are you currently seeing an or note on an online payment screen? Has your bank account already been debited for the premium? lic efeap full form
Through eFEAP, the Life Insurance Corporation of India (LIC) handles over 90% of its core transactional data, including customer profiles, agent hierarchies, and premium tallies. Key Operational Features of eFEAP
Originally, LIC developed FEAP as a localized software solution. Each individual LIC branch ran its own separate database server. Data synchronization happened periodically, meaning real-time policy tracking across different cities was difficult. 2. The eFEAP Upgrade (Centralised) Has your bank account already been debited for the premium
When premiums are paid late but within the allowed grace period, EFEAP calculates whether any minor interest or late fee applies.
Policyholders do not need to visit an LIC branch to fix minor payment discrepancies; the system handles it digitally. Each individual LIC branch ran its own separate
When a policyholder pays multiple premiums in advance, the system registers the unadjusted amount under this financial action plan code until the actual due date arrives. How EFEAP Impacts Your Policy Status
Processing premium payments, loan disbursements, and policy maturity payments.
RFP for Development of Data, Reporting and Analytics Solutions - LIC