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About LIC

  • Life Insurance Corporation of India (LIC) is an Indian insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹1,560,482 crore (US$230 billion). As of 2013 it had total life fund of Rs.1433103.14 crore with total value of policies sold of 367.82 lakh that year. The Life Insurance Corporation of India was founded in 1956. Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost. Maximize mobilization of people's savings by making insurance-linked savings adequately attractive.

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  • Mission: "Ensure and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development."

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  • Vision: "A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."

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  • LIC offers a variety of insurance products to its customers such as insurance plans, pension plans, unit-linked plans, special plans and group schemes. From its creation, the Life Insurance Corporation of India, which commanded a monopoly of soliciting and selling life insurance in India, created huge surpluses and by 2006 was contributing around 7% of India's GDP.

Reach and Range of Products:

Reach:

  • Central Office: Mumbai.

  • 8 Zonal Offices: Mumbai, New Delhi, Kolkatta, Chennai, Bhopal, Kanpur, Hyderabad and Patna.

  • 113 Divisional Offices throughout country.

  • 2048 Branch Offices at various places.

  • 1346 Satellite Sampark Branches.

  • 1242 Mini Offices.

  • 1,20,388 Employees.

  • 11,95,916 Agents.

 

Range of Products:

We have wide range of products catering to different segments of Individuals and Group Insurance products for companies.

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PROFILE OF LIC OF INDIA

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