The Ministry of Finance on Monday approved a series of welfare measures for the benefit of LIC agents and employees. These include enhancement of the gratuity limit from ₹3 lakh to ₹5 lakh for LIC agents and expansion of term insurance cover for agents from ₹3,000-10,000 to ₹25,000-1,50,000. Family pension at a uniform rate of 30% for employees was fixed.