Why LIC ?
LIC’s strength lies in its history of trust, commitment and transparency that it has created over the last 60+ years since its establishment in 1956. A pioneer of insurance services in India, no other insurance provider from the public or private sector has matched up to that history yet. All of the organisation’s core operations and processes are designed around only one sentiment – keeping people’s faith people intact. A survey conducted in 2012 by the Economic Times Brand Equity rated LIC as the “Sixth Most Trusted Service Brand in India.” The Brand Trust Report has also declared LIC as “India’s Most Trusted Brand in the BFSI Category” for four consecutive years – from 2011 to 2014.
This state-owned insurance group and investment organisation today has an estimated asset value of Rs.2,009,119 crore, an estimated revenue of $88.400 billion and profit of $9.257 billion. In the year 2015-2016 alone, LIC settled more than 200 lakh claims amounting to Rs.85,519.96!
LIC also offers one of the Highest Bonus Rates in the industry ranging from 3.5% to 5.2% as compared to 1.2% to 2.8% offered by other brands. The organisation also boasts Stress-Free Claims and Assured Returns.