Awareness on Lic Essay

6 | 4 | Literature Review | 7 | 5 | Research Methodology | 9 | 6 | Research Results | 10 | | Topic | Page Number | 1 | Executive Summary | 3 | 2 | Summary | 11 | 8 | References | 12 | 9 | Annex - Questionnaire | 13 |

The service industry is one of the fastest growing industries in India today. Display the charts for the upcoming industry - telecommunications, banking, insurance. These departments ... Read more

In India, life insurance premium accounts for 5% and general insurance premium accounts for 0.65% of GDP in India, so insurance is a national issue, life insurance and general insurance are growing rapidly. . The Indian insurance industry experienced several stages and changes, especially since 1999. India has pioneered the insurance industry for private enterprises through the Insurance Regulatory Development Authority (IRDA) Act, with overseas direct investment accounting for 26%. Since then, the insurance industry in India has been recognized as a prosperous market among global insurance companies. However, India's largest life insurance company is still owned by the government.

Modern life insurance came to India from the UK in 1818. Oriental Life Insurance, established by Europeans in Calcutta, is the first family life insurance company in India. LIC has five branches, 33 branches and 212 branches, with the exception of the headquarters office in 1956. Since life insurance contracts are long-term contracts and are in the period of insurance contracts, various service needs are necessary. We will expand our business over the next few years and opened branches in each regional headquarters.

Founded in 1956, LIC has nationalized all life insurance companies operating in India. Since then, in the field of life insurance, LIC has been almost monopolized because the amount of life insurance business through postal insurance and state insurance is relatively small. Life insurance is a very important form of long-term contract savings. It can promote savings and promote institutionalization or mobilization. If the organization and operation efficiency of LIC can be improved (and there is much room for it), the scope of new insurance is introduced, the service is expanded to a narrower place, the popularity of life information insurance becomes more popular As the overall price level is stable, the people of the insurance industry will not be fooled by inflation on most of the real value of long-term savings.

LIC, India's only public sector life insurance company, is a state-owned insurance group and investment company. LIC is one of the largest insurance companies in India with an estimated asset value of RS 1,560,482. Indian Life Insurance Company (LIC) with a network spread throughout India offers a wide range of life insurance plans to customers. Based on individual choice, the company provides programs ranging from pure term insurance to investment and savings. In addition, the service of LIC Life Insurance is rated as the sixth most reliable service brand in India. In order to better understand the LIC offering, we have listed the types of plans provided by LIC India.