LIC Scholarship; Ways To Apply And Requirements 2023

The LIC (Life Insurance Corporation) Scholarship 2023 is a financial assistance program provided by LIC of India, one of the largest life insurance companies in India. The LIC Scholarship aims to support meritorious students from economically weaker sections of society to pursue higher education and achieve their academic goals.

Ways To Apply To Life Insurance Corporation(LIC) Financial Aid 2023

To apply for various services or opportunities with the Life Insurance Corporation (LIC) in India, including scholarships, you can follow specific processes tailored to each purpose. Here are different ways to apply to LIC Scholarship:

The LIC scholarship application process typically involves the following steps:

 Requirements of Life Insurance Corporation(LIC) Scholarship

To provide clarity on the requirements for the Life Insurance Corporation (LIC) scholarship, it’s important to note that LIC offers scholarships primarily through its “LIC Golden Jubilee Scholarship Scheme.” Below are the typical requirements and eligibility criteria for this scholarship program:

LIC Golden Jubilee Scholarship Scheme – Requirements:

  1. Nationality: Applicants must be Indian citizens.
  2. Academic Qualification:
    • For Undergraduate Courses: Students must have passed the 12th standard examination or its equivalent with at least 60% marks (50% for SC/ST students).
    • For Vocational Courses: Students must have passed the 10th standard examination or its equivalent with at least 60% marks (50% for SC/ST students).
  3. Financial Background:
    • The applicant’s family income should not exceed a certain threshold, which is determined by LIC.
    • Preference may be given to students from economically weaker sections of society.
  4. Course of Study:
    • The scholarship is applicable to students pursuing higher education in various courses, including:
      • Regular degree courses (such as BA, BCom, BSc, etc.)
      • Vocational courses (ITI, Polytechnic, etc.)
      • Medical, Engineering, Agriculture, Veterinary, Law, etc.
  5. Age Limit: There is typically no specific upper age limit mentioned for this scholarship scheme.
  6. Minimum Marks: Applicants must have secured a minimum of 60% marks (or equivalent) in the qualifying examination, except for SC/ST students where the minimum requirement may be 50%.

What Is The Scholarship Amount?

The scholarship amount provided by the Life Insurance Corporation (LIC) for its scholarship schemes, such as the LIC Golden Jubilee Scholarship Scheme, varies based on the course of study and level of education of the recipient. Here are the typical details regarding the scholarship amount:

Scholarship Amount Details:

  1. For Graduation Level Courses:
    • Students pursuing graduation-level courses (such as BA, BCom, BSc, etc.) generally receive a scholarship amount of:
      • Rs. 10,000 per annum for a maximum of 3 years (total Rs. 30,000) if pursuing a general degree course.
      • Rs. 15,000 per annum for a maximum of 3 years (total Rs. 45,000) if pursuing a professional/technical degree course (such as engineering, medical, law, etc.).
  2. For Diploma and Vocational Courses:
    • Students pursuing diploma and vocational courses (such as ITI, Polytechnic, etc.) typically receive a scholarship amount of:
      • Rs. 10,000 per annum for a maximum of 3 years (total Rs. 30,000).

Important Points to Note:

  • The scholarship amount is disbursed annually for the duration of the course, subject to satisfactory academic performance and continuation of eligibility criteria.
  • The scholarship amount is intended to assist students with educational expenses such as tuition fees, books, study materials, and other related costs.
  • The exact scholarship amount and duration may vary based on the specific scholarship scheme and guidelines set by LIC.

Renewal and Continuation:

  • The LIC scholarship is often renewable for subsequent years of study, subject to the student maintaining satisfactory academic progress and fulfilling other renewal criteria.
  • Renewal criteria may include maintaining a certain level of academic performance and adhering to the terms and conditions of the scholarship.

Additional Support:

  • In addition to the scholarship amount, selected students may also receive other benefits and support from LIC, such as mentoring, career guidance, and networking opportunities.

It’s important for applicants and scholarship recipients to refer to the official LIC scholarship guidelines and announcements for the most accurate and updated information regarding the scholarship amount, eligibility criteria, application process, and other relevant details. LIC’s official website and scholarship portal are reliable sources of information for all inquiries related to LIC scholarships.

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