WHAT IS LIC?
Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance companyinIndia with an estimated asset value of ₹2,529,390 crore (US$370 billion)(2016).
LIC IS GOVERNMENT OR PRIVATE?
LIC is a corporation started by central government in 1956.All the profit (Surplusin insurance terminology)of which 95%is distributed among the policyholders and 5% of the surplus is given to central government as their share every year.LIC moneys are guaranteed by the Government of India.
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