LIC Full Form

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To Know The LIC Full Form Is Important To Make Proper Investments 

The abbreviation lic stands for Life Insurance Corporation of India. It is not an initiative by the government of India. The motto of Life Insurance Corporation of India is "Yogakshemam Vahamyaham," which means "your welfare is our responsibility". They indeed have been serving the citizens of India by making the best policies and schemes. They are honest and reliable in their dealings, and that is why people still have a lot of faith in them. They mainly deal with life insurance products and investment plans. These are secure and safe investments. 

Some of Their Products

It offers a lot of products, which include life insurance policies, savings, and investment products. Some of the popular LIC products/plans launched in 2016-2017 are given below;

  1. LIC Jeevan Pragati

  2. LIC Bima Diamond Plan

  3. LIC Jeevan Shikhar Plan

  4. LIC Jeevan Labh Plan

Some More Facts About the LIC

Get to know the LIC a little better with the following facts:

  • It was established in 1956 after the Parliament of India passed the Life Insurance of India Act. 

  • The LIC headquarter is at Mumbai, India. 

  • There are 8 zonal offices, 113 divisional offices, and more than 2000 branches. 

  • Presently, LIC is the largest life insurance company in India. 

  • The state-owned Life Insurance Corporation was created after merging and nationalizing around 245 private insurance companies and provident societies to create.

  • More than 14 lakh LIC-agents work to promote its insurance business across the country.

Why Must You Trust LIC?

People have been trusting the Life Insurance Corporation of India because of the following reasons:

  • The products and services of LIC are highly promising.

  • There have been no scandals or cases of fraud and forgery that they have been involved in.

  • The returns of the policies and investments are great.

  • LIC agents are also trustworthy and knowledgeable. 

  • You will get to know about the company and its reliability from anyone.

  • The details of their services are registered, and anyone can learn more about them.

What Must One Do to Work as a LIC Agent?

Interested candidates must understand the meaning of lic first. Then they must prepare for the entrance exam of LIC. Once you crack the exam, you have to face an interview, after which you will be a certified LIC agent. 

Conclusion 

Investing in a LIC policy would indeed be a good idea. Once you understand the full form of lic, it will not be a difficult job to place your faith in them. They are the most trusted insurance company in India for several reasons. The following questions will help you to clear some of the apparent doubts.

FAQ (Frequently Asked Questions)

1. Who Can Make Investments With the Life Insurance Corporation of India?

Ans: Life Insurance Corporation of India has been catering to a large mass of people. Since they have been serving the nation for so long, they are associated with many people. So, anyone can make an investment in their policies. For any other assistance, you can get in touch with an LIC agent.

2. Can I Trust Them With My Personal Information While Making Investments?

Ans: You will have to share some of your details and documents with the LIC agent. However, you can do so without worrying about your privacy being hurt. Share the information without any tension.

3. What are the Eligibility Criteria for Buying Policies?

Ans: There are no fixed eligibility criteria for buying the policies. The requirements and requirements will vary from one policy to another about which the LIC agent will inform you.