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 Housing Finance
LICHFL Care Homes
The major products offered by Life Insurance Corporation of India are the following:
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:
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:
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 Guidance & Help Line
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.More Information Related to Financial Institutions
Last Updated on : 27th June 2013