88 LifePositive | FEBRUARY 2018
LIC—61 years
of service and trust
Life Insurance Corporation of India (LIC)
completed 61 years of its incorporation on
September 1, 2017. In this time frame, LIC has
grown from strength to strength, excelling in
all the departments, be it its customer base,
agency network, branch office network, or new
business premium, spreading life insurance
widely across the country.
In the current financial year, four new plans
have been added viz LIC’s Aadhaar Stambh,
LIC’s Aadhaar Shila, LIC’s Jeevan Umang and
Pradhan Mantri’s Vyay Vandana Yojana. These
products satisfy different needs of various
segments of society. Starting with an initial
capital of five crore in 1956, today LIC has assets of over 25 lakh crore with life fund of 23,23,802.59 crore. LIC started with 168 offices in 1956 and has over 4897 offices today, with 1.15 lakh employees, 11.31 lakh agents, and 29 crore plus policies in force. During 2016–17, Life Insurance Corporation of India registered a growth of 27.22 per cent. The total first-year premium amounted to1,24,396.27 crore at the end of March 31,
2017, capturing 71.07 percent of the market
share. It is a matter of pride for us at Life
Insurance Corporation of India that we settled
98.34 per cent maturity claims and 99.63 per
cent of death claims in the year.
Making full use of information technology,
LIC has facilitated SMS-based helpline
services, online payment of premiums through
wallets, and SMS alert on transactions for its
customers. Customers are able to make use of
e-services for many transactions. All payments
are now made through NEFT.
LIC Golden Jubilee Foundation was established
in the year 2006 as a social initiative and has,
since its inception, supported NGOs dedicated
to poverty alleviation. It has been providing
medical relief and infrastructure, at both rural
and urban levels through its 398 projects. LIC
also provides scholarships to children from
economically weaker sections of the society till
they complete their graduation/professional
courses.
LIC is present in 14 countries abroad through
its branch offices, wholly owned subsidiaries,
and joint venture companies. LIC won 33
awards this year, notable among which are the
Golden Peacock Award for National Training
2017, Indian Insurance Award, Dainik Bhaskar
Award, Hindustan Award 2017, Reader’s Digest
Most Trusted Brand Award, and Business
Today-MT Financial Award.
The Life Insurance Corporation of India has
been a nation builder since its formation in 1956
and has always worked for the benefit of the
customer and the community at large.For further information, please contact: Regional Manager
(CC), LIC of India, Northern Zonal Office, New Delhi.
Phone: 011-28844143, email id: [email protected].
Visit us at http://www.licindia.in