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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.

Leadership

S K Roy is the Chairman of Life Insurance Corporation of India.

Contact Details

Corporate Office
Life Insurance Corporation of India,
Yogakshema, East Wing,
Jeevan Bima Marg,
Mumbai - 400 021.

1251 (MTNL or BSNL numbers)

www.licindia.in

Claims ratio of Life Insurance Corporation of India

Year 2007 - 082008 - 092009 - 102010 - 112011 - 122012 - 132013 - 142014 - 152015 - 162016 - 17
Claims ratio 96.7195.4896.5497.0397.4297.7398.1498.1998.33Yet to be
published

News on Life Insurance Corporation of India

In Future, LIC Agents who are expected to ...

In 1956, all life insurance companies were nationalized to form LIC to increase penetration and protect policy holders from mismanagement. Fast forward to today, LIC continues to dominate life insurance segment in India....

Jul 20, 2017 24 views

LIC introduces third gender option in proposal forms

In line with Supreme Court's 2014 verdict to recognise the third gender, country's biggest insurance player state owned Life In...

Feb 26, 2016 220 views

GST rates for LIC policies and other Insurance premiums

One nation, one tax, Goods and Services Tax or GST has come into effect from July 1st, 2017. India's biggest tax reform ever since ...

Jul 06, 2017 186 views

LIC rolls out limited premium payment Jeevan Labh endowment plan

LIC Jeevan Labh, introduced by the state-owned insurer --Life Insurance Corporation of India on January 4, 2016, is an endowment plan w...

Jan 06, 2016 507 views