Life insurance of india

LIC of India - Life Insurance Corporation of India Latest New Plans

LIC of India Overview Life Insurance Corporation of India (LIC of India) is the only public sector life insurance company in India. It was founded in 1956 with the merger of more than 245 insurance companies and provident societies. LIC has its headquarters in Mumbai, the commercial capital of India and currently functions with 8 zonal offices and 113 divisional offices. It is the largest life insurance company in India with over 2000 branches and over 14 lakh agents to solicit life insurance business in the country. LIC provides wide range of life insurance plans from pure term insurance plans to savings and investment products. It has a phenomenal presence in both urban and rural India....

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Life Insurance Corporation - Wikipedia

Life Insurance Corporation Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹ 2,529,390 crore (US$370 billion)(2016). As of 2013 it had total life fund of Rs.1433103.14 crore and total number of policies sold coming in at 367.82 lakh that year (2012-13). The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned...

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Life insurance in India - Wikipedia

Life insurance in India Life Insurance is one of the fastest growing sector in India since 2000 as Government allowed Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to 49%. In 1955, mean risk per policy of Indian and foreign life insurers amounted respectively to ₹2,950 & ₹7,859 (worth ₹15 lakh & ₹41 lakh in 2017 prices). Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993, the Government of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector. While the...

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