Mumbai: Life Insurance Corporation of India (LIC) enters the 64th year of its incorporation on Sept 1, 2019. In its 63 years of existence, LIC has grown from strength to strength, be its customer base, agency network, branch office network, new business premium, and has a significant role in spreading life insurance widely across the country.
At the end of FY2018-19, LIC had 32 plans for sale under individual business. The products satisfy different needs of various segments of the society. Various categories being Endowment, Term Assurance, Children, Pension, Micro Insurance, Health Insurance and Unit Linked products etc. Customers are assured to be provided with the best products as per their changing needs and changing times.
Starting with an initial capital of Rs 5 cr in 1956, today LIC has assets of over Rs 31,11,847.28 cr, with a Life Fund of Rs 28.28,320.12 cr. LIC started with 168 offices in 1956 and today with over 4,851 offices, has over one lakh employees, 11.79 lakh agents and policies in force.