Every day we wake up to the fact that more than 330 million lives are part of our family called LIC.
Though this journey started over SIX decades ago, we are still conscious of the fact that, while insurance may be a business for us, being part of millions of lives every day for the past SIX decades has been a process called TRUST.
Life Insurance Corporation of India (LIC) the largest life insurer in India, was started in the year 1956. LIC has its Head Office in Mumbai and functions with 8 Zonal Offices, 113 Divisional Offices, 2048 Branch Offices with 1346 Satellite Offices and 1242 Mini Offices across the country besides 7 subsidiary companies and overseas operations in 13 countries, and is manned by 1.20 lakh Employees.
LIC has 3 of its Branch Offices functioning at Fiji, U.K and Mauritius. Also, there are 5 Joint Venture Companies functioning at Bahrain, Nepal, Sri Lanka, Kenya and Saudi Arabia, out of which, the latter two are composite companies transacting both life and non-life business. A wholly owned subsidiary company was also opened at Singapore.
LIC is the leader in the life Insurance sector with the largest number of policies in the world i.e., we are serving more than 33 crores customers (Only 4 countries in the World, whose population is more than LIC’s Customer base). LIC holds the World record in settlement of Claims. LIC’s estimated Asset value is more than Rs.25 lakh crores and Life Fund more than Rs.24 lakh crores. LIC is the most trusted brand in India and has been one of the pioneering organizations in India who introduced the leverage of Information Technology in servicing and in their business. We have gone in for relevant and appropriate technology over the years.
All the Policies taken from LIC has Government Sovereign Guarantee i.e., Only LIC policies are guaranteed by Government of India.
LIC is a regular contributor for Nations all Five Year Plans right from 1956 and its total contribution for all the 5 year plans was Rs.16,84,690 crores including Rs.4,51,460 crores contributed for 12th Five Year Plan (2012-2017)
LIC has tied up with major Banks and Service providers to offer On-line premium collection facilities. It has given its policyholders a unique facility to make Online premium payment on LIC website, licindia.in through Internet absolutely free with the help of Net Banking Facility of 50 major Banks and its Credit / Debit cards and American Express credit cards and also view their policy details on Internet premium payments. Premium can be paid through various Banks like City Bank, HDFC, ICICI, Federal Bank, Corporation Bank, Axis Bank, LIC Credit Cards and through Service Providers – Bill Desk and Tech process which cover almost all other banks throughout the country. Banks are allowed to collect the premiums through ATM.
LIC’s Customer Zones have been conceptualized as a “ONE STOP RESOLUTION” for all servicing needs of Phone-in & Walk-in customers with special emphasis on quality experience for the customer. Presently, LIC has 73 Customer Zones all over the country where customers can get all the details of their policies besides selected service, during 8.00 am to 8.00 pm from Monday to Friday and during 10.00 am to 6.00 pm on Saturdays.
LIC as a part of its Corporate Social Responsibility, formed a Trust called “GOLDEN JUBILEE FOUNDATION” in the year 2006, with the objective of promoting education, health, relief of poverty or distress and advancement of other objects of general public utility. As on date LIC has put in a Corpus of Rs.90 crores towards LIC Golden Jubilee Foundation and the interest earned on its distributed for various charitable purposes.
LIC offers their clients unmatched financial strength and solidity. We have invested in creating a state-of-the-art in technology to help and serve our clients. LIC offers World class & most powerful combinations of unique products, to help you meet all your financial goals, in order to give you a greater competitive edge with better returns. LIC is also continuously working on newer and more innovative products.
LIC was conferred with more than 32 awards, notable ones being Readers Digest Trusted Brand, Skoch Renaissance Award, Outlook Money Award, Annual Greentech CSR Award, MACCIIBN-Lokmat Award. Asian Sustainability Leadership Award products.Annual Greentech CSR Award, MACCIIBN-Lokmat Award. Asian Sustainability Leadership Award.