LIC of India is a government owned insurance group. It is the largest insurance company in India with more than 75% of total life insurance market share. It has more than ₹20 lakh crore of assets. Lic was formed in 1956 by combining 245 insurance companies
LIC is the most trusted company enjoying more than 60 years of trust, faith and confidence of people. Your investment in LIC is backed by Sovereign Guarantee of Govt. of India.
Easy access to service. 113 Divisional Offices 2,048 branches 1,381 satellite offices Number of employees 114773 13 lakh+ agents 54 customer zones 25 metro-area service hubs
LIC has settled 208.85 lakh claims amounting to Rs 85,519.96 crore in 2015-16.LIC is known as “Pension Provider” of the country.
In a recent survey conducted by TRA Research across 16 cities and compiled in The Brand Trust Report 2019 Lic of India is the most trusted life insurance brand of India.
Recent News in Lic of India
On November 30 many Lic of India plans would be withdrawn and new improved plan would be launched. The new IRDA ruling have lead to this change and it is for the better security and ease of understanding of the policy holder.
The plans that are likely to be changed / revised / relaunched are:
|Plan Name||Old Table No.||New Table No.|
|New Endowment Plan||814||914|
|New Jeevan Anand||815||915|
|New Bima Bachat||816||916|
|Single Premium Endowment Plan||817||917|
|New Money Back – 20 years||820||821|
|New Money Back – 25 years||920||921|
|New Children’s Money Back||832||932|
|New Endowment Plus||835||935|
Source: Lic of India