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#1
The Life Insurance Corporation of India (Hindi: भारतीय जीवन बीमा निगम) (LIC) is the largest life insurance company in India and also the country's largest investor; it is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of 8 Trillion Rupees (or about $170 Billion dollars). It was founded in 1956.

Headquartered in Mumbai, which is considered the financial capital of India, the Life Insurance Corporation of India currently has 8 zonal Offices and 101 divisional offices located in different parts of India, at least 2048 branches located in different cities and towns of India along with satellite Offices attached to about some 50 Branches, and has a network of around 1.2 million agents for soliciting life insurance business from the public.

[b][u]Nationalization[/u][/b]

In 1955, parliamentarian Feroze Gandhi raised the matter of insurance fraud by owners of private insurance companies. In the ensuing investigations, one of India's wealthiest businessmen, Ram Kishan Dalmia, owner of the Times of India newspaper, was sent to prison for two years. Eventually, the Parliament of India passed the Life Insurance of India Act on 1956-06-19, and the Life Insurance Corporation of India was created on 1956-09-01, by consolidating the life insurance business of 245 private life insurers and other entities offering life insurance services. Nationalization of the life insurance business in India was a result of the Industrial Policy Resolution of 1956, which had created a policy framework for extending state control over at least seventeen sectors of the economy, including the life insurance. The company began operations with 5 zonal offices, 33 divisional offices and 212 branch offices.
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#2
Life Insurance is a lot more than just an investment to save taxes. From providing financial security for your family to protection cover when life springs up unpleasant surprises, insurance provides it all. It even takes care of the educational needs of your loved ones. Unlike other investment avenues, Insurance give you the much needed all round protection throughout life. Our LIC helps you to provide financial security for your family.
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#3
Compare Lic Life Insurance Products - Compare Life Insurance Costs - Easy 5-Step Questionnaire For the Right Life Insurance Plan. Life Insurance Quotes, Rates & Policies by LIC of India Life Insurance Corporation, List of Lic Latest Policy 2011


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