Jul 13, 2015 12:05 PM
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Life isurance corporation of India which is famous as LIC is one of the oldest insurance company in India. LIC comes into existence on 19 June 1956. It is a Government of India enterprise.
Before 2000 LIC has monopoly market in India but after the formation of IRDA many private insurer came to India. Till now It has more than 50% market share in LIfe insurance business in India. Being a Government body people have unlimited trust for LIC.
I think every family in India has a insurance from LIC. I have 2 insurance With LIC. One is LIC jeevan anand and another is unit linked insurance plan. LIC has 2048 number of brances and more than 13 lakhs agents allover India. You can calculate your insurance premium at LIC website and the premium payment option is also available there.
LIC send premium alerts before time so that you can arrange your premium amount and avoid policy lapsation. Due to large number of customer LIC is able to give good dividend and bonus to its policy holders. LIC has all types of insurance like pension plans, ULIPs, health plans, endowment plans and group plans. You can mortgage your LIC policy bond at bank during loan but policy bonds of other insurer are not considered.
