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May 09, 2013

Important Details about LIC


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Friends, here are some important points you should know about Life Insurance Corporation of India (LIC). It hardly will take 5 minutes to read this post but trust us this post will helpful for you in all LIC exams. All the best and Happy Reading.


Important points about LIC


  • Oriental Life Insurance Company (1818, Calcutta) is the first insurance company in India
  • First Indian Company that offered insurance was Bombay Mutual Life Assurance Society (1870)
  • LIC was created by passing LIC Act in 1956 by consolidating 245 private life insurance providers.
  • Life insurance is one among 17 sectors reserved for the government in Industrial Policy Resolution 1956.
  • Slogan of LIC is Yogakshemamvahamyaham (from Bhagvadgita) which means ‘Your Welfare is Our Responsibility’.
  • Within 57 years of its existence, LIC contributed 7% to GDP.
  • At present LIC has 8 zonal offices, 113 divisional offices, 350 million policies and a corpus of Rs.8 trillion ($ 150 billion).
  • According to Brand Trust Report 2012, LIC is the 6th most trusted brand in India.
  • LIC Golden Jubilee Foundation is a charity organisation established in 2006. It works for providing education, alleviation of poverty and providing better living conditions to the poor.
  • It gives scholarships (Golden Jubilee Scholarship Award) to students of the standard 12, whose income is less than 60000 per annum for further studies.
  • Head quarter of LIC is at Mumbai.
    Present chairman of LIC is D K Mehrotra.
  • Insurance regulatory and development authority (IRDA) is the regulatory body of Insurance sector In India 
  • Present chairman of IRDA T.S. Vijayan
  • FDI allowed in insurance sector is of 49%

Suggested Readings :


  1. tum yr comment dikhate nh ho kya bat hai ?

  2. where is the comment which i posted in the morning?

  3. LIC ke mail bhi spam mailbox me jate hai...hadd hai ....!!!

  4. gr8 wrk...keep doing...

  5. Hi...

    May 18 th LIC exam.. This is a great website i found after so many days.
    Great work.. Kepp Rocking..(gl)

  6. superb stuff..!!

  7. priyanka srivastavaMay 10, 2013 at 9:25 PM

    thanks a lot to gr8ambitionz team

  8. Zonal Offices of LIC

    East - Kolkata
    East Central _ Patna
    West - Mumbai
    North - New Delhi
    North Central - Kanpur
    Central - Bhopal
    South Central - Hyderabad
    South - Chennai

  9. there are 109 divisional offices..mentioned on lic official website


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