LIC – Life Insurance corporation of India is the “Oldest” and the “Largest” insurance company in India.
It was incorporated in 1956 and has its headquarters in Mumbai, India.
LIC’s slogan योगक्षेमम् वहाम्यहम (yogakshemam vahamyaham) is in Sanskrit which loosely translates into English as “Your welfare is our responsibility”. This is derived from the Bhagavad Gita‘s 9th chapter. The slogan can be seen in the logo, written in Devanagari script.
From the year 2006, LIC has been continuously winning the Readers’ Digest Trusted brand award.
Unlike most Private insurers, LIC is not tied up with any foreign Insurance company
Nation Building: LIC invests in sectors such as banks, cement, chemicals and fertilizers, electricity and transmission, electrical and electronics, engineering, construction and infrastructure, fast-moving consumer goods, finance and investments, healthcare, hotels, information technology, metals and mining, motor vehicles and ancillaries, oil and natural resources, retail, textiles, transportation and logistics.
- LIC Policy holders enjoy Sovereign Bond Guarantee by Govt of India for all policies they buy from LIC OF INDIA. Your money is safe. This benefit is not there for any other private life insurance company.
- Total Asset $440 Billion (3,11,18,47,27,00,000 Rupees) Rs.31 Thousand Crores which no other insurance company in India can match in terms of stability.
- LIC Holds around 75% + market share. This means Indians prefer to buy new policy form Government backed Insurance company to safeguard your hard earned money.