Insurance

INSURANCE

LIC

WHEN IT COMES TO BUYING LIFE INSURANCE, THERE SHOULD BE NO COMPROMISE

Insurance is a way of managing risks. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, known as the premium. Insurance companies invest the funds securely, so it can grow, and pay out when there’s a claim or maturity. When you buy insurance, you're buying a promise. It's a promise that if something catastrophic happens to you, your insurance is going to assist your family to regain normalcy.

Established in 1956, Life Insurance Corporation (LIC) is the largest insurer and financial institution in the world with an estimated asset value of Rs.352.2 crores (FY2018). It is the largest life insurance company in the world with 29 crore plus policies and counting. LIC has the sovereign guarantee of Government of India under Section 37 of LIC Act 1956.It offers a diverse range of insurance portfolio catering to various needs of its customers. LIC is the only insurance company in the country to have no pending complaints at the end of March 2019.According to IRDAI report, LIC had no pending grievance despite 102127 complaints being filed in 2018-19. It also is a global insurance company with presence in 14 countries across the globe.