Life Insurance Corporation of India (LIC) – UPSC Prelims

Life Insurance Corporation of India:
  • LIC is a government-owned insurance and investment company arising from the Life Insurance Act of India.
  • It is a statutory body.
  • Established in 1956.
  • HQ : Mumbai
  • Its aim is to provide citizens with a higher return on economic security through services and products than most other investment players on the market, thereby helping them build a particular quality of life and providing economic development.
  • LIC is fully owned by the government.