Life Insurance Corporation

What Life Insurance Corporation does

Life Insurance Corporation of India (LIC) is the largest life insurer in India and a state-owned public sector undertaking established on September 1, 1956 through the nationalization of 245 private life insurers under the Life Insurance Corporation Act. LIC serves individual households, families, and group customers across India and in 13 international markets through a comprehensive portfolio covering term assurance, endowment, whole life, money-back, pension, unit-linked (ULIP), micro insurance, and health products such as cancer cover. The corporation operates the largest insurance distribution network in India, comprising 2,048 domestic branches, an extensive agent and development officer force, regional offices in Delhi, Chennai, and Kolkata, and international branches across the UK, Sri Lanka, Fiji, Bahrain, Nepal, Kenya, Singapore, Bangladesh, and Mauritius.

LIC's business model rests on two revenue streams: premium income from policyholders (first year premium of ₹2,26,669 crore reported) and investment income generated from managing a float exceeding ₹57 lakh crore across government securities, equities, and real estate. Investment income reached ₹4.32 lakh crore in FY26 with 10% year-on-year growth. The company maintains 1.78 crore+ policies in force and has settled 2.29 crore claims paying out ₹2,69,243.59 crore cumulatively. Its technology platform includes the My LIC mobile app, LIC Customer Portal, agent productivity apps (Agent App, Pragati, Associate, Pratidhi), and the Ananda digital onboarding solution for Aadhaar eKYC and e-signature. Subsidiaries span housing finance (LIC Housing Finance), pension fund management (LIC Pension Fund), mutual funds (LIC Mutual Fund), card services (LIC Cards), and international life insurance entities, alongside a 49.24% stake in IDBI Bank and a 10.72% stake in the National Stock Exchange of India.

LIC went public in May 2022 through India's largest ever IPO at ₹21,008 crore, structured entirely as an Offer for Sale; the Government of India retains 96.5% ownership. As of 2026, the company is led by Chairman-cum-Managing Director R. Doraiswamy, with the CFO position vacated following Sunil Agrawal's resignation effective July 14, 2026. The corporation holds approximately 65.83% market share in the Indian life insurance segment and operates as the dominant channel for government-backed micro insurance and financial inclusion products.

Name

Life Insurance Corporation

Legal name

Life Insurance Corporation of India

Website

https://licindia.in

Company type

Public

Founded year

1956

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Life Insurance Corporation of India (LIC) is the state-owned, largest life insurer in India, founded 1956, serving over 1.78 crore policyholders through term, endowment, pension, ULIP, and micro insurance products distributed via 2,048 branches, agents, and digital platforms, with assets exceeding ₹57 lakh crore.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Carriers (5241), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Insurance Carriers, Nec (6399), Accident & Health Insurance (6321)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Participating (Dividend) Whole Life Insurance (FSAIABAI), Non-Participating Whole Life Insurance (FSAIABAJ)

Keywords

• Life insurance
• Pension plans
• Endowment policies
• Term assurance
• Micro insurance

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices13 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Premium Income: LIC generates primary revenue through insurance premiums collected from policyholders. Premiums include first-year premiums and renewal premiums, representing the core revenue stream for the life insurance business.
2. Investment Income: Returns generated from investment of premium float and reserves in various asset classes including government securities, equities, and real estate. Investment income grew 10% YoY to reach ₹4.32 lakh crore.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Life Insurance Corporation of India (LIC) is India's largest life insurer, offering a comprehensive portfolio of individual and group life insurance, pension, annuity, unit-linked, micro insurance, and health insurance products. The company collects premiums from policyholders and generates investment income from premiums float invested in government securities, equities, and other assets. Distribution is delivered through 2,048 branch offices, an extensive agent network, and digital channels including the My LIC mobile app and customer portal.

Product overview

Life Insurance Corporation of India operates as a diversified life insurance provider offering a comprehensive portfolio of individual and group insurance products through multiple distribution channels. The product portfolio spans term insurance plans (including digital offerings like Digi Term and Yuva Term), endowment and savings plans (New Endowment Plan, Jeevan Lakshya, Amritbaal), money-back plans (New Children's Money Back, Bima Shree), whole life plans (Jeevan Umang, Jeevan Utsav), pension and annuity products (Jeevan Akshay-VII, New Jeevan Shanti, New Pension Plus), unit-linked insurance plans (SIIP, Nivesh Plus, Index Plus), micro insurance for underserved segments (New Jeevan Mangal, Bhagya Lakshmi, Jan Suraksha), and health insurance (Cancer Cover). The corporation also provides group insurance schemes including term plans, pension schemes, and gratuity management through its Group Business division. Digital customer engagement is facilitated through the LIC Customer Portal, My LIC App, and various agent-facing digital tools (Agent App, Pragati, Associate, Ananda, Pratidhi) supporting the extensive branch network of over 2,048 offices across India and international operations in 13 countries.

Differentiator

Problem solved

Functional benefit

Brands

• My LIC: Mobile app for customers to access policy details, premium payments, and claims
• LIC Agent App
• LIC Pragati
• LIC Associate
• Ananda
• LIC Pratidhi
• Bima Sakhi
• Jeevan Sathi
• Jeevan Utsav
• Bima Kavach
• Protection Plus
• Bima Lakshmi
• Digi Term
• New Tech Term
• New Jeevan Amar

Products and services

• LIC's New Endowment Plan Traditional participating endowment assurance plan that provides life coverage along with periodic bonuses and a maturity benefit.
• LIC's New Jeevan Amar Term assurance plan offering pure protection with flexible sum assured options and death benefit payable as lump sum or installments.
• LIC's New Tech-Term Digital term insurance plan with flexible premium payment options, offering level or increasing sum assured with coverage up to 100 years of age.
• LIC's Saral Jeevan Bima Standardized simple term insurance plan providing basic life protection at affordable premiums with minimal documentation.
• LIC's Jeevan Akshay-VII Immediate annuity plan offering guaranteed lifetime income with 10 annuity options and flexibility in premium payment and annuity frequency.
• LIC's New Jeevan Shanti Deferred annuity plan providing guaranteed rates from policy start with options for single or joint life and flexible deferment periods.
• LIC's New Pension Plus Unit-linked pension plan combining market-linked returns with guaranteed additions and flexible premium payment options for retirement planning.
• LIC's SIIP Systematic investment-linked plan offering unit fund growth with guaranteed additions and flexible premium amounts for wealth creation.
• LIC's Nivesh Plus Unit-linked investment plan allowing customization of sum assured with market-linked fund returns and accident benefit rider option.
• LIC's Index Plus Unit-linked plan with low starting premiums of Rs 2500 offering exposure to NIFTY 50 stocks alongside guaranteed additions.
• LIC's Cancer Cover Regular premium health insurance plan providing financial protection upon diagnosis of early or major stage cancer during the policy term.
• LIC's Jeevan Umang Whole life participating money-back plan providing periodic returns during the policy term and life coverage throughout the policyholder's lifetime.
• LIC's New Children's Money Back Plan Money-back plan designed for children's future with guaranteed additions and maturity benefits timed to coincide with major life events.
• LIC's Jeevan Tarun Children-oriented endowment plan providing financial support for children's education and future needs with flexible premium terms.
• LIC's Jeevan Lakshya Non-participating endowment plan offering guaranteed additions and death benefits with flexibility to increase coverage at life stages.
• LIC's Amritbaal Child-focused endowment plan with attractive guaranteed additions throughout the policy term and maturity age options between 18-25 years.
• LIC's New Jeevan Sathi - Single Premium Single premium participating plan designed for couples providing combined life coverage, savings accumulation, and bonus declarations.
• LIC's Jeevan Utsav Whole life plan offering periodic survival benefits and life coverage with limited premium payment period options.
• LIC's Bima Kavach Term insurance plan with flexible premium options including single, regular, and limited payment modes with customizable sum assured increases at life stages.
• LIC's Digi Term Digital term plan offering flexibility to choose level or increasing sum assured with attractive high sum assured rebates for online purchase.
• LIC's Yuva Term Term insurance plan designed for young adults offering affordable premiums with flexible coverage options and rider benefits.
• LIC's New Money Back Plan-20 Years Money-back plan with 20-year policy term providing periodic survival benefits at specified intervals and maturity benefit.
• LIC's New Money Back Plan-25 Years Money-back plan with extended 25-year policy term offering more frequent survival benefit payouts and comprehensive coverage.
• LIC's Bima Shree

Quantifiable outcome

• 65.83% market share in Indian life insurance sector
• +3 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• SBI Life Insurance: One of India's largest private life insurers, offering a comparable suite of term, endowment, ULIP, and pension plans. It is LIC's closest private-sector competitor by premium volume and product breadth, and competes directly for the same individual and group customers.
• HDFC Life Insurance: Major private life insurer with a strong distribution mix across agency, bancassurance, and digital channels. Closely comparable to LIC across protection, savings, ULIP, pension, and health riders; frequently cited as the share-gainer benchmark against LIC's traditional products.
• ICICI Prudential Life Insurance: Large private life insurer with a balanced product mix across term, ULIP, and savings plans, distributed via bancassurance and agency. Directly competes with LIC in the same Indian customer segments with similar life and health insurance offerings.
• Max Life Insurance: Top-five Indian private life insurer focused on protection and long-term savings products. Comparable to LIC in product design (term, endowment, retirement) and target customer segments of middle and upper-middle class Indian households.
• Bajaj Allianz Life Insurance: Private life insurer offering term, ULIP, endowment, and retirement products with a strong agency-led distribution. Directly comparable to LIC in product taxonomy and target market, particularly for individual and group insurance buyers.
• Tata AIA Life Insurance: Private life insurer with a growing share of protection and ULIP sales, distributed via agency, banca, and digital channels. Comparable to LIC across protection, savings, and retirement offerings, and a key share-gainer in segments where LIC is structurally weaker.
• Kotak Mahindra Life Insurance: Private life insurer offering term, ULIP, savings, and retirement products with a bancassurance-led distribution model through Kotak Bank. Directly competes with LIC for individual and group life insurance customers across similar product categories.
• Aditya Birla Sun Life Insurance: Private life insurer offering a comparable product portfolio (term, endowment, ULIP, pension, health) distributed via agency and bancassurance. Competes directly with LIC in the individual and group insurance segments across India.
• Reliance Nippon Life Insurance: Private life insurer offering term, savings, ULIP, and retirement plans with a multi-channel distribution model. Comparable to LIC in product range and customer base, and a notable recent acquirer (Sunil Agrawal, LIC's outgoing CFO, previously worked here).
• IndiaFirst Life Insurance: Bank-promoted life insurer offering term, endowment, ULIP, and micro insurance products targeting mass-market and underbanked customers. Comparable to LIC's retail and micro insurance segments, particularly in Tier-2/3 and rural geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/licindiaforever
• YouTubeyoutube.com/channel/UC0pII1V1bN_5B0pRcNfK4eg
• Facebookfacebook.com/LICIndiaForever
• LinkedInlinkedin.com/company/lic-india-forever-27b83226
• Instagraminstagram.com/lic_india

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries13 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments38 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Life Insurance Corporation