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Indian multinational public sector life insurance company
- Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹52.52 trillion (US$630 billion) as of March 2024.
en.wikipedia.org/wiki/Life_Insurance_Corporation
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Life insurance corporation, popularly known as lic is indian state-owned insurance group and investment company. Buy life insurance plans and policies from LIC of india avail tax benefits with multiple cover options.
Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹52.52 trillion (US$630 billion) as of March 2024. [4]
Discover the story of LIC India. Learn about our commitment to serving your insurance needs with trust and excellence. Your partner for a secure financial future
Any LIC Agent will be glad to help you choose the life insurance plan to meet your needs and render policy servicing. What Is Life Insurance? Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.
- What Is Lic?
- Objectives of Lic of India
- Functions of Lic
- Should You Buy Lic Policy?
- Various Lic Schemes
- Conclusion
The Life Insurance Corporation was incorporated and started on 19th January 1956.This was done by a merger of 16 insurance company and 75 provident societies on that day. The LIC Act was passed by the Parliament on 18th June 1956, which then came into effect from 1st July 1956. Life Insurance Corporation has started its journey as a corporate firm ...
Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing th...Maximize the mobilization of people’s savings by making insurance-linked savings adequately attractive.Bear in mind, in the investment of funds, the primary obligation to its policyholders, whose money it holds in trust, without losing sight of the interest of the community as a whole; the funds to...Conduct business with utmost economy and with the full realization that the money belongs to the policyholders.The main function of LIC is to collect the savings of the people through a life insurance policy and invest that money in various financial markets.One of the main functions of LIC is to invest fund into government securities so as to protect the capital of the people who have given their money to LIC.LIC has to issue an insurance policy at affordable rates to people.LIC provides direct loans to industries at lower interest rates. The rate of interest is as low as 12% for the entire tenure.If you ask me this question, my direct answer is big NO! The reason behind is : 1. The LIC is gathering money from the people like you and me and invest it in the financial market where it makes huge money and in return, you will get peanuts. 2. The return from the LIC policy is not even beating inflation rate in India. 3. Most of the people who ar...
LIC has launched various schemes catering to different categories and segment of the Indian economy. Its main product is insurance plans for individuals. Below is the list of the major LIC policies available in India.
LIC is the oldest investment institution in India. It gathers money from the household savings and invests it in the financial markets. But it doesn’t give you good returns on your investment. I always keep telling people that don’t mix insurance with investment. Both are different as they have different objectives. From the above list of functions...
LIC Life Insurance Benefits. Since its establishment on 1st September 1956, the Life Insurance Corporation of India (LIC) has been on a mission to make life insurance accessible to all, especially in rural areas. The company's goal is to provide adequate financial protection to every insurable individual in the country at an affordable price.
LIC, also known as the Life Insurance Corporation of India, came into being after the Indian Parliament passed the Life Insurance Corporation Act on June 19, 1956. This act led to the birth of LIC on September 1, 1956. The main aim of LIC of India was to make life insurance accessible to more people, especially those living in rural areas.
