CURRENT AFFAIRS

Detailed explanation-1: -Life Insurance Corporation of India (LIC) has partnered with Paytm to facilitate e-payments for its customers.

Detailed explanation-2: -Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost.

Detailed explanation-3: -In the case of LIC v. Union of India; (Supra) this court held that the word ‘tender’ appearing in Section 31 of the Act expresses not merely the readiness and ability to pay or perform at the time and place but also the actual production of the things to be paid or delivered either.