LIC is a public limited insurance company that offers various plans whether you are buying a life insurance plan or an investment insurance plan. If you aren’t aware of the LIC full form then you must see it in this blog. The full form of LIC is the Life Insurance Corporation of India. This organization was established in 1956 and the parliament of India has passed the life insurance law. This company deals in multiple insurance products and investment plans. The headquarters of LIC is in Mumbai. You can explore more about LIC in this blog below including the plans and other facts. Recently, LIC is also giving Housing Finance so that a person can buy his dream home.
All About LIC
There are various facts about LIC that you must explore below:-
- LIC was established on 1 September 1956 after the parliament passed the Life Insurance Act.
- The headquarters of LIC is in Mumbai.
- LIC is the largest insurance company in India.
- There are 8 Zonal offices of LIC in India.
- LIC also has 118 divisional offices across India.
- There are more than 2000 LIC branches in India.
- There are more than 14 Lacs LIC Agents and promoting LIC’s business in India.
- In 2019, LIC has more than 290 million policyholders.
LIC Zonal Offices
The 8 Zonal offices of LIC are given below:-
- North Zone – Delhi
- East Zone- Kolkata
- West Zone – Mumbai
- South Zone – Chennai
- Central Zone – Bhopal
- East Central Zone – Patna
- South Central Zone – Hyderabad
- North Central Zone – Kanpur
With the LIC Full Form, you must also know the Slogan of LIC. The Slogan of LIC is YOGAKSHEMAM VAHAMYAHAM. It is in Sanskrit that means “Your welfare is our responsibility).
LIC Product and Subsidiaries
The LIC products are as follows:-
- Life Insurance
- Health Insurance
- Investment Management
- Mutual Fund
The Subsidiaries of LIC are given in the table below:-
- LIC Housing Finance
- LIC International Limited
- IDBI Bank
- LIC Cards Services Limited
- LIC Pension Fund Limited
- Life Insurance Corporation Mutual Fund Limited
Employees of LIC
In 2020, there were 114498 employees in LIC out of which 25602 were women. You can see the employment structure of LIC below:-
- Chairman – M.R.Kumar
- Managing Director – Mukesh Gupta, SMT. Ipe Mini, Siddharth Mohanty, and Rajkumar
- The Ministry of Finance is the Owner of LIC.
- There are 32433 class 1 officers out of which 7202 are women.
- There are 24388 class 2 officers out of which 1458 are women.
- Class 3 and Class 4 officers have 16942 women in a total of 51677 officers.
So, you know the LIC full form and all other facts about LIC. The full form of LIC is Life Corporation of India and it offers various insurance products. You can buy any insurance product whether it is life insurance, health insurance, or investment insurance. See all the facts of LIC including the full form.