Thursday, 2 January 2020

Full form of LIC | Get all information about LIC

Full form of LIC, What is LIC Full Form, What is the full name of LIC, what is LIC?, The full name of LIC and what it means, answers to all such questions will be found in the post.

LIC full form - what is LIC?

Full form of LIC = Life Insurance Corporation

LIC full form is Life Insurance Corporation. It is called Life Insurance Corporation of India in Hindi and as you must have read the full form of LIC and understand what LIC is. So let's talk about the general information of LIC.

LIC Life Insurance Corporation of India is a public sector company in India that deals mainly with life insurance products and investment schemes. Its motto is welfare is our responsibility. This company keeps reliance on the plans of the bright future of individuals, the statement of LIC means with life even afterlife. It was established in 1956 when the Parliament of India passed the Life Insurance of India Act. LIC offers various products including Life Insurance Policy Savings and Investment Products.

Full form of LIC | Get all information about DTP

LIC currently offers many types of Insurance Policy. Under which the insurance taker keeps on doing the work slowly and whenever any misfortune happens, he can withdraw more money from his deposit. The methods of investing in this can vary. LIC was started on September 1, 1956, today, LIC has spread not only in India but across the world.

The head office of LIC is located in the Mumbai district of Maharashtra. Today, LIC's Branches are spread in more than 15 countries. You probably know that LIC has many term plans and these term plans change from time to time. Apart from LIC, there are many other companies which provide Life Insurance such as -

  1. Max Life Insurance
  2. SBI Life Insurance
  3. Tata Life Insurance
  4. Reliance general insurance
  5. Birla Life Insurance
  6. Kotak Mahindra Life Insurance
  7. Sahara Life Insurance

LIC Insurance Types

There are several types of LIC Insurance such as -

  1. Life Insurance
  2. Crop Insurance
  3. Home Insurance
  4. Personal Accident Insurance
  5. Travel Insurance
  6. Vehicle Insurance
  7. Medical and Health Insurance

LIC Products

LIC offers various products including life insurance policies, savings and investment products.  Popular LIC Products Plans launched in 2016-2017.

  1. Lic jeevan pragati
  2. LIC Jeevan Shikhar Plan
  3. LIC Jeevan Labh Plan
  4. LIC Bima Diamond Plan

Awards and Recognitions

According to the 2012 Economic Times Brand Equity Survey, LIC was ranked sixth in the list of India's most trusted service brands. Since 2006, LIC has been consistently winning the Reader's Digest Trusted Brand Award. It has won various awards like the MEIF Institutional Excellence Award 2012, Golden Peacock Innovative Product / Services Award 2011.

Also, read more post like what is PFA.

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