LIC Full Form | Full Form of LIC

LIC Full Form - Life Insurance Corporation of India

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 Life Insurance Corporation of India

Life Insurance Corporation of India

  • LIC stands for Life Insurance Corporation of India.
  • It's a public sector company in India that mainly deals with life assurance products and investment plans.
  • Its motto is "Yogakshemam Vahamyaham" which suggests "your welfare is our responsibility".
  • It was established in 1956 when Parliament of India passed the life assurance of India Act.
  • This act merged and nationalized around 245 private insurance companies and provident societies to make state-owned life assurance Corporation.
  • Today, LIC is that the largest life assurance company in India. It's headquartered at Mumbai, India.
  • It's 8 zonal offices, 113 divisional offices and more than 2000 branches.
  • It also has more than 14 lakh LIC-agents to market its insurance business within the country.
  • As per Economic Times Brand Equity survey of 2012, the LIC was at the sixth position within the list of most trusted service brands of India.
  • It's won various awards like MEIF institutional Excellence Award 2012, Golden Peacock Innovative Product/Services Award 2011.

LIC Products

 Lic Products

Lic Products

  • It offers various products which include life assurance policies, savings and investment products. A number of the favored LIC products/plans launched in 2016-2017 are given below;
    • LIC Bima Diamond Plan
    • LIC Jeevan Pragati
    • LIC Jeevan Shikhar Plan
    • LIC Jeevan Labh Plan

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