Lic Efeap Full Form Extra Quality May 2026

Unified System: e-FEAP is the primary software used by LIC to manage its business and services.

Maintenance: Divisional IT departments are responsible for handling e-FEAP queries from branches, maintaining servers, and performing data backups.  Modernization Initiatives  lic efeap full form

Platform: The application typically runs on the Linux operating system and was originally introduced around 2010 to replace older manual or fragmented systems. Unified System : e-FEAP is the primary software

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To get the exact meaning, check the original source where you saw "LIC EFEAP." Look for: lic efeap full form

• Employee contributions qualify for deduction under Section 80C of the Income Tax Act.
• Maturity proceeds may be taxable if the premium/contribution exceeds 10% of the sum assured (per current budget rules for non-ULIP group policies). However, since LIC EFEAP is an old welfare scheme, many tax experts argue that proceeds are partially exempt under Section 10(10D) for the risk cover portion.
• Death benefits paid to the family are generally tax-free under Section 10(10D).