Advisor-Life Insurance Corporation Of India

Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of ₹2,529,390 crore (US$350 billion)(2016).[3] As of 2013 it had total life fund of ₹1,433,103.14 crore and total number of policies sold coming in at ₹367.82 lakh that year (2012-13). The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalized the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.