What is the full form of LIC?

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    • Life Insurance Corporation of India is the largest insurance group in India. It is owned by the Government of India and was formed in the year 1956. The headquarter is located at Mumbai, India. Before LIC a number of insurance companies existed. LIC was formed by merging 245 insurance companies and provident societies. It has presence across India through its zonal offices, divisional offices and numerous agents who serve as the point of contact with the customers. Recently with the entry of foreign players and private players in the insurance segment if faced stiff competition but it still holds its ground comfortably owing to its pan India presence and excellent claim settlement record.

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