LIC

Life Insurance Corporation of India, which is better known as LIC is the largest life insurance company in India. The Government of India fully owns the company and incidentally, it is the only public sector insurance company in the country. LIC was founded in the year 1956.

  • LIC is headquartered in Mumbai and is having 7 zonal offices and 100 divisional offices spread across the country. LIC has a number of subsidiaries and they are the following:
    Life Insurance Corporation of India International
    LIC Nepal
    LIC Lanka
    LIC Housing Finance
    LICHFL Care Homes

    The major products offered by Life Insurance Corporation of India are the following:
    Insurance Plans
    Pension Plans
    Unit Plans
    Special Plans
    Group Scheme
    LIC has numerous insurance plans for its customers. It understands that every individual is having a different requirement in his or her life. The insurance needs and requirements by every individual are different from one another. Some of the major insurance plans offered by Life Insurance Corporation of India are the following:
    Children’s Plans
    Plans for Handicapped Dependents
    Endowment Assurance Plan
    Plans for High Worth Individuals
    Money Back Plans
    Special Money Back Plans for Women
    Whole Life Plans
    Term Assurance Plans
    LIC also offers Group Insurance Schemes to a group of people. These plans are ideal for associations, employers and societies.

    The Unit plans by LIC are the investment plans that are designed for the people who value their hard-earned money. These plans help the investors to earn high yield benefits and also help them to save tax considerably. The Unit Plans offered by LIC are the following:
    Market Plus
    Fortune Plus
    Profit Plus
    The Special Plans by LIC offer the facility of both insurance and investment. The Special Plans by LIC are New Bima Gold, Jeevan Saral, Bima Nivesh 2005, and Jeevan Madhur.

    The customer services offered by Life Insurance Corporation of India are the following:
    Policy Status
    Insurance Selector
    NRI Center
    Phone Helpline
    Policy Guidance & Help Line
    Tax Benefit
    Bonus Information
    LIC also offers premium payment plans for the customers. Premium Due, Payment through Alternate Channel and Online Payment are the three services under this segment that LIC offers.

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    Last Updated on : 27th June 2013

 

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