Life Insurance Corporation continues to be the most trustworthy insurance partner for the common people of India. This one institution has not only provided people with ample returns but has also leveraged them with the best of life security, timely returns and a family like feeling.
What makes Life Insurance Corporation a success in India is its wide network of policy providers; LIC not only safeguards our lives but also provide our near and dear with employment opportunities at large. Life Insurance Corporation of India continues to enjoy the indispensable support of local bodies, government and private institutions.
While every other family in India have experienced how LIC simplifies lives when it matters the most, we must also look at the data and draw a clear understanding of how it is not just important but essential for the existence of a secure and happy environment in the country.
Why LIC’s 61 years of service should make us proud?
Central Government has an impressive 822820 crores security deposited with Life Insurance Corporation of India. The trust that Central Government bestows over LIC in this time of economic turmoil and irrational money environment proves the mettle of LIC and makes it the single largest insurance institution in the country.
With Central Government showing the way, State Governments have joined and party and are trying to bank upon the most trustworthy institution when it comes to securities and proper returns. With an impressive security deposit of 655603 Crores, State Governments have strengthened the trust of common people in Life Insurance Corporation of India. These numbers of central and state deposit are not only numbers but proves of trust that the whole country collectively puts in Life Insurance Corporation of India.
The total investment made by government entities in Life Insurance Corporation makes up for the huge sum of 1478423 Crores.
Life Insurance Corporation is contributing to the making of New India:
Let alone the government deposits, which are a huge achievement for any private entity or institution, Life Insurance Corporation of India has a compelling share in Housing, Power and Irrigation sectors.
With 655693 Crores from the Housing Sector, 117398 from the Power and 2031 from Irrigation Sector, LIC is thriving and helping the new India breathe the air of development and security. These funds are put to use for the building of a country that is stable, healthy and happy.
LIC came into existence in 1951-1952 and since then it has been a great source of the security deposit and higher returns for the common people of India, LIC had a gross investment of 184 Crores during the five-year plan in the tenure of 1956-1961.
The gross investment for the five-year plan has increased up to a whopping sum of 1423055 Crores in 2012-2017.
61 years of service to more than 125 crore people with gross investment of 1423055 Crores and all this is just the beginning. Life Insurance Corporation of India is here to stay and change the way Indians deposit money and safeguard their futures.