About LIC

The Life Insurance Corporation of India was created on 1st September, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost. Today Life Insurance Corporation functions with 2048 fully computerized branch offices, 113 divisional offices, 8 zonal offices, 1381 satellite offices and the Corporate office. Life Insurance Corporation continues to be the dominant life insurer even in the liberalized scenario of Indian insurance and is moving fast on a new growth trajectory surpassing its own past records. Life Insurance Corporation has crossed many milestones and has set unprecedented performance records in various aspects of life insurance business. Life Insurance Corporation has crossed many milestones and has set unprecedented performance records in various aspects of life insurance business.

Objectives of LIC 

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 them adequate financial cover against death at a reasonable cost.

• Maximize 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 be deployed to the best advantage of the investors as well as the community as a whole, keeping in view national priorities and obligations of attractive return.

• Conduct business with utmost economy and with the full realization that the moneys belong to the policyholders.

• Act as trustees of the insured public in their individual and collective capacities.

• Meet the various life insurance needs of the community that would arise in the changing social and economic environment.                                                                                                                                                                                                                                                                                                                                                                                                     

• Involve all people working in the Corporation to the best of their capability in furthering the interests of the insured public by providing efficient service with courtesy.

• Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards achievement of Corporate Objective.                                                       

Mission of LIC                                                                                                                                                 "Ensure and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development."

Vision of LIC                                                                                                                                                            "A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."