Life Insurance Corporation of India completes 60 years of its incorporation on 1st September, 2016. LIC has played a significant role in spreading life insurance among the masses and mobilisation of people’s money for people’s welfare. LIC celebrates this Diamond Jubilee Year dedicated to the nation.
Starting with an initial capital of Rs. 5 Cr in 1956 today LIC has Assets of over Rs.22 lakh crore with Life Fund to the tune of Rs. 2057625.38 Crore. LIC started with 168 offices in 1956 and today with over 4762 offices and 33161 touch points has 1.14 lakhs employees, 10.61 lakh agents, 29 crore plus policies in force.
Information technology initiatives have facilitated SMS based Helpline services, Online payment of premiums through wallets and SMS Alert on Transactions. Customers are able to make use of e-Services for many transactions. All payments now are made of through NEFT.
The International Operations of LIC of India consists of overseas business activities in life insurance market in 13 countries with Branch offices in Fiji, Mauritius and United Kingdom.
