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Life Insurance Corporation of India

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About Life Insurance Corporation of India

Life Insurance Corporation (LIC) of India is the only public sector Life Insurance Company in India. The company was formed in September 1956.

LIC was formed in 1956 with the merger of more than 200 insurance companies and provident societies. Since then they have been among the most trusted brands in India providing insurance solutions to even the remotest corners of India through their huge network of agents and distributors. It was only in 2001 that the private sector was allowed into the insurance sector in India. LIC has maintained its dominant leadership status even with the presence of 22 other life insurance companies.

LIC is the largest life insurance company in India with a huge presence in both urban and rural markets. Its distribution is unmatched and has a strong agent force which reaches out to every small town in India ensuring that their products are being offered to one and all in the country. The insurance products of LIC are often the most simple and consumer friendly and it is displayed by the enormous response it gets to the launch of any new product. LIC has an insurance product for almost any need - from protection, savings and investments, micro-insurance plans to special plans for women and even for handicapped individuals. The insurance agents of LIC have been the backbone of the company for long and their agent network keeps getting bigger by the day.

List of all the plans from Life Insurance Corporation (LIC) of India.

Leadership

Mr. MR Kumar is the Chairman of Life Insurance Corporation of India.

Contact Details

Corporate Office
Life Insurance Corporation of India,
Yogakshema Building,
Jeevan Bima Marg,
P.O. Box No – 19953,
Mumbai – 400 021

022 6827 6827

www.licindia.in
Branch Locator

Claims ratio of Life Insurance Corporation of India

Year 2012-132013-142014-152015-162016-172017-182018-192019-202020-21
Claims ratio 97.7398.1498.1998.3398.3198.0497.79-Yet to be published

Market share of Life Insurance Corporation of India

Year 2012-132013-142014-152015-162016-172017-182018-192019-202020-21
Market share 71.475.569.370.571.1169.466.24-Yet to be published

News on Life Insurance Corporation of India

​LIC relaxes claim settlement requirements...

Keeping in view the safety of its customers, LIC has given relaxations in various claim settlement requirements to make the processes easier and hassle free. To facilitate speedy settlement of death claims in the prev...

May 17, 2021 62 views

Life insurance managed to stay afloat by cutting costs

Life insurance companies in India focused on controlling costs and renewal business which enabled them to make higher profits in 2010-2...

May 27, 2011 2,759 views

Central govt considers selling 25% stake i...

The timing of the insurer’s initial public offering will depend on market conditions, and the sale is likely to be done in tranches India is planning to seek cabinet’s approval to sell 25% stake in the nat...

Sep 30, 2020 199 views

LIC grows by 22 percent while private players crawl

Life Insurance Corporation of India (LIC) continues to hold its strong position amidst the increasing number of private players in the ...

Apr 27, 2011 4,532 views

Videos on Life Insurance Corporation of India

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