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May 09, 2013

Important Details about LIC

14 comments

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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%
Rajeeyam

Suggested Readings :

14 comments:

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

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

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

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

    ReplyDelete
  5. Hi...

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

    ReplyDelete
  6. superb stuff..!!

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

    thanks a lot to gr8ambitionz team

    ReplyDelete
  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

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

    ReplyDelete

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