Life Insurance Corporation of India was founded in 1956 when the Indian Parliament passed the Life Insurance of India Act.
LIC is India’s largest insurance provider with more than 290 million policyholders.
It is also the most profitable insurance company in India.
LIC could have the 5th largest population in the world if it was a country!
This company has issued more than 21 million individual policies in 2022!
The Life Insurance Corporation of India has paid 10.84 lakh claims in 2022.
The latest LIC Jeevan Utsav 871 policy can be surrendered if the policyholder has paid all premiums of the initial 2 years.
LIC Jeevan Utsav 871 Plan allows the policyholder to return the policy if he or she is not happy with the terms and conditions.
The nominee in the policy will receive 80% of the total premium according to the suicide clause of the new Jeevan Utsav policy.