Articles

Browse Articles  »  Finance  »  LIC of India – Serving Satisfaction and...

LIC of India – Serving Satisfaction and Earning Trust

by Sonal Kadam insurance policy

‘Life Insurance Corporation of India’ is a state owned insurance cum Investment Company of India which came into existence in 1956 when the Parliament of India passed ‘Life Insurance of India Act’. This Act nationalized private insurance sector of India. More than 245 private insurance companies were clubbed to form Life Insurance Corporation of India. The aim was to provide avenues of reliable and trusted insurance services to the common man in a transparent manner! LIC of India, since then has served along the desired values of business ethics and efficiency and has earned a burgeoning base of satisfied customers to its credit. The company today operates as the biggest player of Indian insurance sector and has the majority of share through vibrant LIC Life Insurance products.

LIC – A Diversified Insurance Giant

LIC of India has over the years, diversified its business portfolio to include dedicated housing finance, mutual funds business, health insurance and pension services among others. It operates through five subsidiaries which are LIC Housing Finance Limited, LIC Pension Fund Limited, LIC International, LIC Nomura Mutual Fund and LIC Card Services. However it is LIC Life Insurance Products that have brought in prestige and substance for the company in the past decades. People have relied upon LIC as a synonym of life insurance in India and this explains the majority share of the company. In the last decade LIC came out with viable yet attractive options of health insurance products for the common people. The rising cost of medical services led the people to aspire for some reliable options and LIC’s products were equally resonant to respond to the diverse socio economic demands of the people!

Easy Accessibilities for LIC Life Insurance Products

Life Insurance Corporation of India has built a resurgent infrastructure – both physical and human, in the last few decades with the aim of ensuring efficiencies in its products and services. This is the reason that even in the post liberalization period in India, LIC has stood tall and robust and maintains lead by wider margins with respect to its competitors. LIC today has a widespread network of branches and offices which includes more than 2000 branch offices under the initiative of 9 zonal offices and 109 divisional offices with a uniform spread throughout the Indian Territory. While LIC is headquartered in Mumbai, its ‘Satellite Sampark Kendras’ acts as points of convenience and access for the large array of LIC Life Insurance products.

LIC Life Insurance Serving Diverse Orientations 

LIC has evolved brilliantly in the last decade by generating responsive and ethical interfaces with their existing and prospective customers. A whole matrix of LIC Life Insurance products have been designed with the view of serving the emergent demands of the society and the economy. Building upon its base of traditional customers, investment orientations were introduced through vibrant market oriented ULIPs (Unit Linked Insurance Policies) which were greatly accepted by the social classes with investment aspirations. Its ‘Money Plus’ and ‘Market Plus’ policies are some of most trusted investment products of age! LIC has therefore emerged as a success saga of India serving the popular life insurance needs in the most desired and reliable manner.

Sponsor Ads


About Sonal Kadam Junior   insurance policy

1 connections, 0 recommendations, 14 honor points.
Joined APSense since, July 7th, 2014, From Mumbai, India.

Created on Dec 31st 1969 18:00. Viewed 0 times.

Comments

No comment, be the first to comment.
Please sign in before you comment.