About LIC

Life insurance business in India was being transacted by private companies until 1956. As a result of the long felt need and in the interest of insuring public, the life insurance business was nationalized in 1956. The nationalization resulted in the establishment of Life Insurance Corporation of India (LIC) by an act of the Parliament. The Corporation was formed and began to function on September 1st, 1956 by taking over 170 companies and 75 provident societies. The entire initial capital of Rs.5 crore was contributed by the government of India. The objective of nationalization was described by the then finance minister, Dr. Deshmukh as “to see that the gospel of insurance is spread as far and wide as possible so that we reach beyond the more advanced urban areas well into the hither to neglected rural areas”.
Headquartered in Mumbai, which is considered the financial capital of India, Life Insurance Corporation of India currently has 8 Zonal Offices, 101 Divisional Offices, 2048 Branch Offices located in different cities and towns in India.
LIC is the most trusted life insurance brand in India.
Every day we wake up to the fact that more than 250 million lives are part of our family called LIC.
We are humbled by the magnitude of the responsibility we carry and realize the lives that are associated with us are very valuable indeed. Though this journey started over six decades ago, we are still conscious of the fact that, while insurance may be a business for us, being part of millions of lives every day for the past 61 years has been a process called TRUST.
A True Saga Of Trust.


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