full form of LIC

LIC Full Form

Full form of LIC

Full form of LIC is Life Insurance Corporation. In fact the complete name of the organization is life insurance corporation of India. SO people also call it LICI besides LIC and LIC of India.

Introduction to LIC of India

According to Wikipedia, Life Insurance Corporation of India (abbreviated as LIC) is an Indian government owned insurance and investment corporation. It is under the ownership of Ministry of Finance , Government of India .

The Life insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation of India.[2][3]

As of 2019, Life Insurance Corporation of India had total life fund of ₹28.3 trillion. The total value of sold policies in the year 2018–19 is ₹21.4 million. Life Insurance Corporation of India settled 26 million claims in 2018–19. It has 290 million policy holders

LIC Chairman and other official

S. No.NameDesignation
1M R KumarChairman
2Pankaj JainGovernment Nominee Director
3Padmaja ChunduruDirector Nominated by Government of India
4Mukesh Kumar GutaManaging Director
5Raj KumarManaging Director
6Siddhartha MohantyManaging Director
7Ipe MiniManaging Director

LIC Offices

LIC of India has 2048 fully computerized branch offices, 8 zonal offices, around 113 divisional offices and 1408 satellite offices and the Central Office. It also has 73 customer zones and 25 metro-area service hubs. .

LIC Agents

LIC of India has a network of 1,537,064 individual agents, 342 Corporate Agents, 109 Referral Agents, 114 Brokers and 42 Banks.

LIC Logo

LIC of India logo

LIC Anthem / Song

LIC Ringtone

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