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. | Name | Designation |
| 1 | M R Kumar | Chairman |
| 2 | Pankaj Jain | Government Nominee Director |
| 3 | Padmaja Chunduru | Director Nominated by Government of India |
| 4 | Mukesh Kumar Guta | Managing Director |
| 5 | Raj Kumar | Managing Director |
| 6 | Siddhartha Mohanty | Managing Director |
| 7 | Ipe Mini | Managing 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
