What is LIC?

[rajivkumar]

What does LIC stand for, and what is its role in insurance? I want to understand how LIC works, the types of policies it offers, and whether it’s a good option for long-term savings and life coverage.

 

[Zoe]

The Life Insurance Corporation of India (LIC) is the biggest government insured investment corporation in India. It was founded in 1956 and offers life insurance, pensions and asset management to millions of policyholders.

 

[Aurora]

LIC stands for Life Insurance Corporation of India, a government-owned insurance company that provides life insurance policies, savings plans, and financial protection to individuals and families.

 

[Frederick]

LIC is an acronym that means Life Insurance Corporation which is an insurance company in the government which offers life insurance covers, investment plans and retirement products; which is mostly recognized as long term financial protection and savings plans.

 

[Ynessira]

LIC stands for Life Insurance Corporation of India, the largest government-owned insurance company in India, established in 1956. It provides life insurance, pension plans, and investment options to millions. LIC is known for financial security, long-term savings, and reliable insurance products catering to individuals and families.