Established in 1956 through the nationalization of the insurance industry in India, the Life Insurance Corporation of India (LIC) is the country's largest life insurer and a significant institutional investor. Wholly owned by the Government of India, LIC's mission is to spread life insurance widely, particularly in rural areas, and to provide financial cover to all insurable persons at a reasonable cost. The corporation offers a vast portfolio of products, including life insurance plans, pension plans, unit-linked plans, and group schemes, playing a crucial role in the nation's economic development by channeling public savings into long-term investments.

Founded in

India