Mini project lab.

Work

A
Project report
On

LIC POLICY MANAGING

SYSTEM.
Submitted for partial fulfillment of award of
BACHELOR OF TECHNOLOGY
Degree
In
COMPUTER SCIENCE & ENGINEERING
BY :-
HIMANSHU SHARMA (0706410044)
GAURAV GUPTA (0706410038)
ASHISH MITTAL (0706410025)

SUBMITTED TO:-
MR.SANJAY SINGHAL SIR.
(lecturer@CSE)

HINDUSTAN COLLEGE OF SCIENCE AND TECHNOLOGY

MATHURA

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Content
• Introduction

• Objective & scope

• Theoretical background

• Definition of the problem

• System requirement & design issues

• User requirements

• Programming language adopted

Introduction:
The Life Insurance Corporation of India (LIC) (Hindi: भारतीय जीवन बीमा िनगम) is
the largest life insurance company in India, and also the country's largest
investor.; it is fully owned by the Government of India. It also funds close to

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24.6% of the Indian Government's expenses. It has assets estimated of Rs. 8

trillion (US$ 176 billion). It was founded in 1956.
The Oriental Life Insurance Company, the first corporate entity in India
offering life insurance coverage, was established in Calcutta in 1818 by Bipin
Behari Dasgupta and others. Europeans in India were its primary target
market, and it charged Indians heftier premiums. The Bombay Mutual Life
Assurance Society, formed in 1870, was the first native insurance provider.

Objective & scope:

These are following objectives and scopes:
1. Spread and provide life insurance to the masses at a reasonable cost

2. Promote amongst all agents and employees of the Corporation a sense

of participation, pride and job satisfaction through discharge of their
duties with dedication towards achievement of Corporate Objective

3. Involve all people working in the Corporation to the best of their

capability in furthering the interests of the insured public by providing
efficient service with courtesy.

4. Act as trustees of the insured public in their individual and collective

capacities.

5. Conduct business with utmost economy and with the full realization
that the moneys belong to the policyholders.

6. Maximize mobilization of people's savings by making insurance-linked

savings adequately attractive.

Theoretical background:
Life insurance or life assurance is a contract between the policy owner
and the insurer, where the insurer agrees to pay a designated beneficiary a

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sum of money upon the occurrence of the insured individual's or individuals'

death or other event, such as terminal illness or critical illness. In return, the
policy owner agrees to pay a stipulated amount called a premium at regular
intervals or in lump sums. There may be designs in some countries where
bills and death expenses plus catering for after funeral expenses should be
included in Policy Premium. In the United States, the predominant form
simply specifies a lump sum to be paid on the insured's demise.

There is a difference between the insured and the policy owner (policy
holder), although the owner and the insured are often the same person. For
example, if Joe buys a policy on his own life, he is both the owner and the
insured. But if Jane, his wife, buys a policy on Joe's life, she is the owner and
he is the insured. The policy owner is the guarantee and he or she will be the
person who will pay for the policy. The insured is a participant in the
contract, but not necessarily a party to it.

Definition of the problem:

Life Insurance Corporation is the vast field where LIC policies of the number
of people have to be created, maintained & updated the amount daily. So, to
fulfill and challenge this task we have to use the software techniques. Mostly
our problem is not concerned at the major level here we concerned about the
LIC agents who create and update policies number of times in a day. So
according to us, these people need the software facilities for that. By
understanding this problem we, people take it to as our project.

System requirements and design issues.

The following hardware and software support we adopted mentioned below:
1. Windows operating system.
2. Turbo c/c++.
3. Word processor.
4. DOSBOX 0.72

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User requirement:
While using this product user can fulfill their following requirements:
1. How to create policies of policy holders.
2. Maintenance of the data base for the policy holder.
3. User can update the data base when essential.
4. How to list all the policy and search the particular policy holder.
(Since the project is in running state. we can further add the new
requirements.)

Programming language adopted:

C programming language.

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*******************

Thank you:

1. Himanshu Sharma
(himan.sharma5050@yahoo.com)
2. Gaurav Gupta (mrgauravgupta@yahoo.co.in)
3. Ashish Mittal (vinaymittal02@gmail.com)

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