LIC celebrates 63rd anniversary with 'Insurance Week'

GUWAHATI: Life Insurance Corporation of India celebrated 64th insurance week recently. A premier financial institution of the country, it has immensely contributed to propagating the message of life insurance. In its 64 years of existence LIC has spread its wings from being the leading Life Insurance Company into an internationally recognized financial conglomerate with the presence in fourteen countries. It has also ventured into other financial services through its subsidiaries and associates viz LIC HFL Ltd, LIC Pension Fund Ltd, LIC Mutual Fund, LIC Cards Services Ltd, IDBI Bank Ltd , LIC HFL Care Homes Limited, LICHFL Financial Services Limited, and LICHFL Asset Management Company Limited.

Starting with an initial capital of Rs.5 crore in 1956, today LIC has asset base of Rs. 31,96,214.81 crore, with Life Fund to the tune of Rs. 31,14,496.05 crore. LIC has always been at the forefront in Nation Building Activities by deploying the funds to the best advantage of the policy holders as well as the Community as a whole, true to the spirit of nationalization. National priorities and obligation of reasonable returns to the policyholders are the main criteria of our investments. The total funds, so invested for the benefit of the community at large are Rs 30,69,942crore as on March 31.

LIC is today serving its customers through eight zonal offices, 113 divisional offices, 74 customer zones, 2048 branch offices, 1526 satellite offices , 3354 Life Plus Offices and 31556 premium points. It has over one lakh employees, 12.08 lakh agents and 28.92 crore plus policies In-force.

Today LIC offers a bouquet of 28 plans for sale under Individual Business, each catering to the needs of various segments of the society, stated a press release.

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