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Best life insurance companies in india. Life insurance corporation of india corporate office.
In todays date icici prudential life insurance is undoubtedly one of the most extensively recognized insurance companies in india.
Life insurance of india. Lic has its headquarters in mumbai the commercial capital of india and currently functions with 8 zonal offices and 113 divisional. In 1955 mean risk per policy of indian and foreign life insurers amounted respectively to 2950 7859 worth 15 lakh 41 lakh in 2017 prices. The insurance act of 1938 was the first legislation governing all forms of insurance to provide strict state control over insurance business.
There are a plethora of life insurance companies in india offering a wide range of insurance policies and plans to individuals groups companies and families to choose from and benefit from. Many of the best life insurance companies in india have a strong hold on the market with lic leading. Contact to lic agent to buy insurance policy on 8826934385 and get best and sutaible policies for you.
During the year 2017 18 the total individual death claims or claim settlement ratio of icici prudential life insurance company was 9788. Life insurance is one of the fastest growing sectors in india since 2000 as government allowed private players and fdi up to 26 and recently cabinet approved a proposal to increase it to 49. Life insurance corporation of india abbreviated as lic is an indian state owned insurance group and investment corporation owned by the government of india.
It was founded in 1956 with the merger of more than 245 insurance companies and provident societies. Yogakshema building jeevan bima marg po. All 245 insurance companies operating then in the country were merged into one entity.
Life insurance corporation of india lic of india is the only public sector life insurance company in india. A life insurance company pays a sum of money to the beneficiaries either on the death of insured or on maturity in exchange for insurance premium paid by insured during the specified term. Life insurance in india was completely nationalised on 19 january 1956 through the life insurance corporation act.
Life insurance can be described as a contract between an insured and a life insurance company. Life insurance in india was nationalised. Life insurance is considered as one of the most secured.
Box no 19953 mumbai 400 021 irdai reg no 512. The parliament of india passed the life insurance corporation act on the 19th of june 1956 and the life insurance corporation of india was created on 1st september 1956.
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