Abhishek Kumar -1Abhishek Kumar -2

Abhishek Rajpurohit -3Aditi -4

Aditya Kothalkar - 5

IntroductionThe Life Insurance Corporation of India (LIC) (भा�रती�य जी�वन बी�मा� निनगमा) is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses.

Headquartered of LIC is in Mumbai8 Zonal Office113 Division Office3500 (Approx) Service Office2048 branches  54 Customer Zones  25 Metro Area Service Hubs   A network of 13,37,064 individual agents, 242 Corporate Agents, 79 Referral Agents, 98 Brokers and 42 Banks (as on 31.3.2011) for soliciting life insurance business for public.

The slogan of LIC is "Zindagi ke saath bhi,Zindagi ke baad bhi" 

Over its existence of around 50 years, Life Insurance Corporation of India, which commanded a monopoly of soliciting and selling life insurance in India, created huge surpluses, and contributed around 7 % of India's GDP in 2006.

Total employees 115,966 (2010).

History & AwardsLIC was founded in 1956 (Sept, 1st)with the merger of 243 insurance companies and provident societies.

It has assets estimated of `13.25 trillion (US$ 295.48 billion)

The Economic Times Brand Equity Survey 2010 rated LIC as the No. 4 Service Brand of the Country.

CNBC Awaaz Consumer award 2010

ProductsPlan Keyword Types

Insurance 12,41

Pension Future, Senior citizen 5

Unit  Investment, Save tax 2

Special Insurance + Investment 4,6

Group Scheme Employees, Societies 2,11

Withdrawn  12

Marketing StrategiesTV Advertisements.Newspaper advertisements.Push Strategy.Pull Strategy.

Cross Selling Offers of LICLoansMediclaimsMutual FundsUlipsPension Schemes

Financial Planning Process1. Understanding your needs.2. Preparing the recommendations.3. Implementing your strategy.4. Review and update plan.

Risk Management StrategyThe corporation recently roped in global

consultant Deloitte Touche Tohmatsu to devise best risk management for its swelling investment portfolio.

The standard assets of the corporation are consistently maintained above 99% and gross non-performing assets (NPA) have fallen from 2.40% to 1.21%.

To protect the interest of and secure fair treatment to policyholders

To bring about speedy and orderly growth of the insurance industry (including annuity and superannuation payments), for the benefit of the common man, and to provide long term funds for accelerating growth of the economy.

To set, promote, monitor and enforce high standards of integrity, financial soundness, fair dealing and competence of those it regulates.

To ensure speedy settlement of genuine claims, to prevent insurance frauds and other malpractices and put in place effective grievance redressal machinery.

To promote fairness, transparency and orderly conduct in financial markets dealing with insurance and build a reliable management information system to enforce high standards of financial soundness amongst market players.

To take action where such standards are inadequate or ineffectively enforced.

To bring about optimum amount of self-regulation in day-to-day working of the industry consistent with the requirements of prudential regulation.

Types of Insurance1. Auto insurance2. Home insurance3. Health insurance4. Accident, sickness and unemployment insurance5. Casualty6. Life7. Property8. Liability9. Credit10. Other types11. Insurance financing vehicles12. Closed community self-insurance

AdvantagesRisk Cover.Planning for life stage needs.Protection against rising health expenses.Builds the habit of thrift.Safe and profitable long-term investment.Assured income through annuities.Protection plus savings over a long term.Growth through dividends.Facility of loans without affecting the policy benefits.Tax BenefitsMortgage Redemption.