What is the full form of LIC?
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What is the full form of LIC?
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The full form of LIC is Life Insurance Corporation of India.
It was founded on 1 September 1956, when parliament passed the act life insurance of India after this act life insurance industry nationalized in India. LIC is one of the largest insurance companies in India, today it has 290 million policyholders.
It is a public sector company in India, and it deals with life insurance products and investment plans. Around 245 insurance companies and provident societies merged to make state-owned Life Insurance Corporation.
LIC motto is "Yogakshemam Vahamyaham" which means "your welfare is our responsibility"
LIC headquartered in Mumbai, it has 8 zonal offices, 100 divisional offices, 2048 branches, and 11,48,811 LIC agents.
As of 2019, LIC had a total life fund of ?28.3 trillion, total police sold in 2018-2019 is?21.4 million.
LIC Products
LIC Jeevan Akshay
LIC e-Term Insurance
LIC New children's Money Back Plan
LIC Jeevan Anand
LIC Jeevan Saral
Subsidiaries of LIC
LIC Housing Finance
LIC International Ltd
LIC Cards Services Ltd
LIC Mutual Fund Ltd
LIC Pension Fund Ltd
IDBI Bank
Axis Bank (9.02%)
Yes Bank (10%)
Awards won by LIC
In 2013 -2014 LIC won 31 awards
Skoch Renaissance Award
Outlook Money Award
Annual Greentech CSR Awards
MACCIA-IBN Award
Asian Sustainability Leadership Award
Readers Digest Trusted Brand
LIC ranked among “Top -10 Most Trusted Brands in India” in the 2013 survey.
