Life Insurance Corporation:

The Life Insurance Corporation of India was established in 1956 and is considered as the largest life insurance company in India owned by the Government of India. Currently the company has about 8 zonal offices and 101 divisional offices in different parts of India with about 1.2 million agents handling the businesses at these locations.

 It has won Awards which include Loyalty Awards 2008 in the insurance sector, NDTV Profit Business Leadership Award in 2007, CNBC Awaz Consumer Awards in 2007 and Outlook Money NDTV Profits Awards in 2007.  The organization has nearly 12 million policy holders and had underwritten more than 120 million policies as well.

Life Insurance Corporation of India has helped individuals for almost 52 years banking on the trust they gained in the process. The main agenda has always been directed towards mobilization of savings through insurance linked savings for people.

 Amongst the various principles followed by the company, their priority is to act as trustees of the public and comprehend that the money invested belongs to the policyholders.

Currently Life Insurance Corporation of India is managing funds worth Rupees 600,000 Crore and is all set to launch credit cards by the end of this year. They have plans to make this project a success by opening a separate company for handling the same which will be owned by LIC.

The company is also looking at beginning with a project for Electronic Data Management which will convert all LIC policies into the digital format. This will help customers make and receive payments for their premiums anywhere in the country through the electronic medium.

 LIC also has offerings for the weaker sectors, rural areas, social services and infrastructure development as well. Catering to different sectors of the society LIC has made a vast difference in people’s life ensuring a better future.