Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India’s largest insurance company as well as the largest institutional investor with total assets under management worth ₹45.7 trillion (US$570 billion) as of March 2023. It is under the ownership of Government of India and administrative control of the Ministry of Finance.
The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalising the insurance industry in India. Over 245 insurance companies and provident societies were merged together.
LIC reported 290 million policyholders as of 2019, a total life fund of ₹28.3 trillion, and a total value of sold policies in the year 2018–19 of ₹21.4 million. The company also reported having settled 26 million claims in 2018–19. It ranked 98th on the 2022 Fortune Global 500 list with a revenue of ₹775,283 crore (equivalent to ₹8.2 trillion or US$100 billion in 2023) and a profit of ₹4,415 crore (equivalent to ₹47 billion or US$590 million in 2023).
Official Customer Care & Support Information
| Office Address | Life Insurance Corporation of India. Yogakshema Building, Jeevan Bima Marg, P.O. Box No – 19953, Mumbai – 400 021 |
| Registered Address | Yogakshema Building, Jeevan Bima Marg, P.O. Box No – 19953, Mumbai – 400 021 |
| Contact Number | +91-22-68276827 |
| Customer Care Number | +91-22-68276827 |
| Complaint Helpline | +91-022-6659-9335/ 9334/ 9391/ 9464 |
| Email ID | [email protected] (For Policy Number Related Complaints) [email protected] (Spurious calls) |
| Whatsapp Number | 8976862090 |
| Website | https://licindia.in/ |
| Download App | https://play.google.com/store/apps/details?id=com.lic.liccustomer |
LIC History
Founding organisations
The Oriental Life Insurance Company, the first company in India to offer life insurance coverage, was established in Kolkata in 1818 by Bipin Das Gupta. Its primary target market was India.
Surendranath Tagore had founded Hindustan Insurance Society in the same time period, which later became the Life Insurance Corporation.
The Bombay Mutual Life Assurance Society was formed in 1870, almost half a century later. It was the first native insurance provider of Western India. Other insurance companies established in the pre-independence era include:
- Postal Life Insurance (PLI) was introduced on 1 February 1884
- Bharat Insurance Company (1896)
- United India (1906)
- National Indian (1906)
- National Insurance (1906)
- Co-operative Assurance (1906)
- Hindustan Co-operatives (1907)
- The New India Assurance Co Ltd (1919)
- Indian Mercantile
- General Assurance
- Swadeshi Life (later Bombay Life)
- Sahyadri Insurance (Merged into LIC, 1986)
These companies were established when India was marked mostly by turbulent economic and political conditions including the Indian rebellion of 1857, World War I and World War II. The effect of these events led to a high liquidation rate of life insurance companies in India and adversely affected the faith of the general public in the value of obtaining life insurance.
Nationalization in 1956
In 1956, parliamentarian Feroze Gandhi raised the matter of insurance fraud via owners of private insurance agencies. In the ensuing investigations, one of India’s wealthiest businessmen, Times of India owner Sachin Devkekar, was sent to prison for two years.
Initial public offering
Finance Minister Nirmala Sitharaman announced a proposal to conduct an initial public offering for LIC in the 2021 Union Budget. The IPO is expected to occur in 2022, and the Government of India will remain the majority shareholder after the public listing. Ten percent of shares are proposed to be allotted to existing LIC policyholders. In year 2021, the government of India had proposed to enhance the authorized capital of the LIC of India, to ₹250 billion (US$3.1 billion) to facilitate its public listing scheduled for the next fiscal year which will begin on 1 April.
Due to the scale of the offering and the LIC’s ownership structure, the deal has been referred to as “India’s Aramco moment” in reference to the comparable 2019 IPO of Saudi Aramco.
The LIC announced it would open its IPO to the public on 4 May 2022, and the process would be concluded on May 9. Through this IPO, the Government of India is now aiming to raise ₹21,000 crore, as opposed to raising between ₹65,000 crore to ₹70,000 crore by diluting the 5% equity earlier. As per the IPO price band for 3.5% stakes for ₹21,000 crore, the valuation comes to around ₹6 lakh crore.
LIC Addresses in India
| Location | Contact No. | Address | |
|---|---|---|---|
| Agra | 0562-2524912 | [email protected] | Agra LIC Office Sanjay Place, Agra |
| Ahmedabad | 079-27461662 079-27461032 079-27490619 | [email protected] | Ahmedabad Maruti Complex, Subhash Chowk, Gurukul Road, Memnagar, Ahmedabad- 380052 |
| Amritsar | 0183-2560673 | [email protected] | Amritsar Sainik Bhawan, Opp St. Paul Church Rialto Chowk, Amritsar (Punjab) |
| Bangalore-I | 080-22966528 080-22966553 | [email protected] | Bangalore-I, No.13, 39th A Cross, 9th Main Road, 5th Block, Jayanagar, Bangalore- 560 041 |
| Bangalore-II | 82122966896 82122966836 | [email protected] | Bangalore Division II No. 817, Girija Complex, Koramangala 8Th Block, Bangalore – 560095 |
| Belgaum | 0831-2443857 0831-2443856 | [email protected] | Belgaum LIC of India, Jeevan Prakash Divisonal Office , Basaveshwar circle ( Goves ) Belgaum 590 011. |
| Bhagalpur | 0641-2610011 0641-2610099 | [email protected] | Bhagalpur, Mani Complex, Jail Road, Tilkamanjhi, Bhagalpur – 812001. |
| Bhubaneswar | 0674-2573910 0674-2573911 | [email protected] | Bhubaneshwar Cuttack-Puri Road PO- Bomikhal, Bhubaneswar – 751006 |
| Bhopal | 0755-2676254 0755-2570043 | [email protected] | M.F 19 & 20, Mansarovar Complex, B-Block, Mezzanine Floor Bhopal- 462016 |
| Chandigarh | 0172-2631075 | [email protected] | S.C.O 107, First Floor, Sector 47-C, Chandigarh |
| Chennai | 044-28611912 044-28611642 | [email protected] | DO-1, 153, Anna Salai, LIC Building Ground Floor, Chennai 600002 |
| Chennai-II | 044-25331915 044-25331914 044-25331912 | [email protected] | No 47, Armenian Street, Ground Floor, Oriental Insurance Building, Chennai – 600001 |
| Coimbatore | 0422-2303318 0422-2304255 0422-2303565 | [email protected] | (Ground Floor), United India Building, Avinashi Road, Tamilnadu – 641018 |
| Cuttack | 0671-2307883 0671-2307889 | [email protected] | Kanika Chhak, Tulsipur, Above SBI Building Cuttack -753008 |
| Delhi | 01123711804 011-23711806 011-23312104 011-23312105 | [email protected] | H-39, New Asiatic Building, Connaught Place, New Delhi-110001 |
| Delhi-II | 011-22785929 011-22785930 | [email protected] | G-2/B-15, Local Shopping Centre, Mayur Vihar Ph-2, New Delhi-110091 |
| Dhanbad | 0326-2225344 0326-2225345 | [email protected] | Sri Ram City, Saraidhela, Dhanbad |
| Dwarka | 011-28042583 011-28042584 | [email protected] | First Floor, Sudeep Plaza Plot No-3 , Sector-11 Dwarka – New Delhi |
| Dharwad | 0836-2212621 0836-2212622 | [email protected] | Lic Of India, Divisional Office, College Road Dharwad 580001 |
| Ernakulam | 04842362680 0484-2363680 0484-2364680 | [email protected] | Divisional Office, 8Th Floor, Jeevan Prakash, Lic Of India Divisional Office, Ernakulam, Kochi 682011 |
| Gandhinagar | 079-23240083 079-23240383 | [email protected] | Gandhinagar 104 and 105, Haveli Arcade, Above Radhe Sweets, Sector -11, Gandhi Nagar, Gujrat – 382011 |
| Goa | 0832-2434404 0832-2230760 | [email protected] | Upper 1St Floor, ‘B’ Wing, Sushila Building, 18Th June Road, Panji, Goa 403 001 |
| Gulbarga | 08472-233030 | [email protected] | No. 3-218/219, Rukmini Chambers, Behind Super Market, Ghazipur, Gulbarga – 585101 |
| Guntur | 0863-2211476 0863-2211562 | [email protected] | D.NO.12-21-58, 1st Floor, Gouri Shankar Theatre Road, Guntur-522001. |
| Guwahati | 0361-2450389 | [email protected] | Tribeni Commercial Complex, First Floor, Bhangagarh, G S Road, Guwahati – 781007 |
| Gwalior | 0751-2448641 0751-2448611 | [email protected] | Madan Tower, Jaynendraganj, Achleswar Road , Laskar, Gwalior – 474009 |
| Gurgaon | 0124-2570060 | [email protected] | SCO 60, First Floor, District Centre, Sector-56, Gurgaon – 122011 |
| Hubli | 0836-2212621 0836-2212622 | [email protected] | Opp. Samyukta, Karnataka Press, Koppikar Road, Hubli-580020 |
| Hyderabad | 040-23420730 040-23420740 040-23420761 | [email protected] | 6-3-1090/C/4, Hosannatowers, 1St Floor, Above Union Bank, Rajbhavan Road, Somajiguda,Hyderabad – 500082. |
| Indore | 0731-2535567 0731-2533523 | [email protected] | 15/2, Shop No. L G -5, Darshan Mall, Race Course Road Indore – 452002 |
| Jabalpur | 0761-2404606 0761-2403194 | [email protected] | Lic Building, Civic Center Marathal Jabalpur- 482001 |
| Jaipur | 0141-2744342 0141-2742845 | [email protected] | CF/O 3-4, Central Block, First Floor, Nehru Place, Jaipur – 302015 |
| Jalandhar | 0181-2480967 0181-2480968 | [email protected] | S.C.O. 3, Crystal Plaza, Chhoti Baradari, Garha Road Jalandhar – 144022 |
| Jamshedpur | 0657-2249077, 0657-2249099 | [email protected] | 2Nd Floor Hindusthan Building Bistupur Main Road |
| Jammu | 0191-2479790 0191-2479791 | [email protected] | Flat No 62, Sector No. 8 , Trikuta Nagar , Jammu (J&K) – 180012 |
| Jodhpur | 0291-2657117 0291-2635076 0291-2657855 | [email protected] | Shanicharji Ka Than, Ummed Hospital Road, Jodhpur |
| Kanpur | 0512-2333998 | [email protected] | 16/98 M.G.Marg Lic Building Divisional Office Kanpur |
| Karnal | 0184-2268024 0184-2266280 0184-2268444 | [email protected] | 3, GuruTeg Bahadur Market, Near Ambedkar Chowk, Karnal – 132001 |
| Kolkata | 033-22124172 033-22124175 033-22124176 | [email protected] | 4, Cr Avenue, Hindusthan Building, Ground Floor, Kolkata- 700072 |
| Kolkata (S) | 033-23370642 | [email protected] | KSDO, Jeevan Prabha, DD-5, Sector-1, Salt Lake City, Kolkata-700064 |
| Kolkata-II | 033-24198845 033-24198540 | [email protected] | Merlin Links Building, 166B, S.P. Mukherjee Road, Kolkata- 700 026 |
| Kottayam | 0481-2302408 0481-2585411 | [email protected] | Jeevan Prakash Bldg. 3Rd Floor, Nagampadam, Kottayam-686001 |
| Kozhikkode | 0495-2725581 0495-2725582 | [email protected] | 1St Floor, Mas Arcade, V.M. Basheer Road, Kozhikkode-673001 |
| Lucknow | 0522-2614782 | [email protected] | Shop Nos. 9 & 10 Jeevan Bhavan -1 (Ground Floor) 43- Hazaratganj, Lucknow – 226001 |
| Howrah | 033-26374387 033-26374388 | [email protected] | 6/5, G.T.Road (South), Near Howrah Maidan, Pin-711101 |
| Madurai | 0452-2372395 0452-2372737 | [email protected] | Ramalinga Radiant’ – I Floor, T.P.K Road, Andalpuram, Madurai 625 003. |
| Mangalore | 0824-2426255 0824-2425955 | [email protected] | Ground Floor, LIC Popular Building, K.S.Rao Road, Hampankatta, Mangaluru – 575001 |
| Mumbai-I | 022-26788943 022-26781224 022-26770302 022-26797532 | [email protected] | 1ST FLOOR, Mayfair Meridian, Caesar Road, Amboli, Andheri(W), Mumbai-400058 |
| Mumbai-II | 022-27723592 022-27725968 | [email protected] | -2, Shop No. 1, 2, 3, 20, Om Sai Dutta, Plot No-32/A, Sector – 20, Nerul (West), |
| Mumbai-III | 022-20891214 022-20891215 | [email protected] | First Floor, Jeevan Bima Nagar, Shopping Center, Above Karnataka Bank, Borivli (W) Mumbai – 400103 |
| Mumbai BKC – III, | 022-26500441 022-26500442 | [email protected] | Mahanagar Telephone Nigam Ltd., Telephone Exchange Building, G-N Block, Bandra Kurla Complex, Bandra (East), Mumbai. |
| Mumbai-IV | 022-28482906 022-28482907 | [email protected] | Madhuram Hall, First Floor, Harishankar Road, Near Dahisar Railway Station, Dahisar – East, Mumbai 400 068. |
| Muzaffarpur | 0621-2281023 | [email protected] | 1St Floor ,Lic Divisional Office, Uma Shankar Pd Marg Muzaffarpur |
| Mysore | 0821-2341096 0821-2341099 | [email protected] | NO.2910, Kantharaj Urs Road, Saraswathipuram, Mysore – 570009 |
| Nagpur | 0712-2450080 0712-2450083 | [email protected] | Mehadia, Nagpur 440012, |
| Nerul | 022-27725968 | [email protected] | Shop No 1,2,3,20, Om Sai Dutta, Plot No 32/A Sector 20 Nerul(W) Navi Mumbai |
| Noida | 0120-2485028 0120-2485399 | [email protected] | LIC Of India B1A/14,Sector-51 Noida – 201301 |
| Patna | 0612-2332033 | [email protected] | 1st Floor, BSFC Building, Fraser Road, Patna -800001 |
| Pune | 020-25539790 020-25534956 | [email protected] | Office 1 Ground Floor, Jeevan Prakash Building, Shivajinagar, Pune 411005, |
| Raipur | 0771-2255008 0771-4912812 0771-4028622 | [email protected] | Shop No . 110/111, Guru Ghasidas Plaza, Amapara, G.E. Road,Raipur (C.G.) – 492001 |
| Ludhiana | 0161-2771310 0161-2771438 | [email protected] | 801/21 Loomba Street, Civil Lines, Opp. Old Dandi Swami Mandir, Ludhiana – 141001 |
| Salem | 0427-2410588 | [email protected] | Johnsonpet, Salem-636007 |
| Secunderabad | 040-27820146 040-27820136 | [email protected] | Behind Ntr Stadium ,Near Indira Prak,Gandhi Nagar, Lic Of India, Divisional Office Secunderabad-17, |
| Siliguri | 0353-2545737 0353-2545739 | [email protected] | Diamond Plaza, 1St Floor, Donbosco More, (Near Bhaktinagar Check-Post), P.O. Sevoke Road, Siliguri |
| Surat | 0261-2770227 | [email protected] | Aditya Complex, Opposite Prime Arcade, Anand Mahal Road, Surat – 395009 |
| Thane | 022-25423226 022-25421474 022-25421475 | [email protected] | Pinak Galaxy, B Wing, Kapur Bawdi, Thane 400607 |
| Thrissur | 0487-2436922 0487-2436933 0487-2436944 | [email protected] | First Floor, LIC of India, Divisional Office, Kovilakathumpadam, Thrissur – 680022 |
| Tirunelveli | 0462-2577070 | [email protected] | Floor 1, Lic P&Gs Unit, 9-A, Punithavathiyar Street, Palayamkottai, Tirunelveli – 627002. |
| Trichy | 0431-2741735 0431-2740734 | [email protected] | D-72, 7th Cross, North East Extension, Thillai Nagar, Trichy 620 001 |
| Trivandrum | 0471-2322622 0471-2322333 | [email protected] | LIC Divisional Office Trivandrum – 695004 |
| Varanasi | 0542-2220457 | [email protected] | C 32/2, Prem Complex, ChanduaSatti Sigra, Varanasi |
| Vellore | 0416-2252181 0416-2256615 0416-2255658 9790164906 9442315236 8754864187 | [email protected] | C Zee, LIC of India, 263-B Power Plaza Complex, RTO Road, Sathuvachari, VELLORE – 632009 |
| Vijaywada | 0866-2499595 0866-2499596 | [email protected] | D No : 59-14/2, Gayathri Nagar, Upstairs Of Lakshmi Vilas Bank, Benz Circle,, Vijaywada – 520010, |
| Visakhapatnam | 0891-2558254 0891-2513404 | [email protected] | New Investment Building.. Thikkana Marg, Backside Of Divisional Office Building., Vishakhapatnam- 530 016 |
| Warangal | 0870-2574034 0870-2574038 | [email protected] | Ist Floor, Opp Arts & Science College, Subedari, Hanmakonda, Warangal-506001. |
| Rajkot | 0281-2581318 0281-2581319 | [email protected] | Akshar Complex, Opp. Patel Kanya Chhatralaya, Dholiakiya School Road, Rajkot- 360005. |
Details of Empanelled TPAs
| Name of the TPA | Toll Free No. | Regions | Zones Covered |
|---|---|---|---|
| Heritage Health Insurance TPA (P) Ltd | 18001024547 | ER & SCR | EZ,ECZ & SCZ |
| Genins India Insurance TPA Ltd | 18001807941 | NR & WR | EZ,ECZ & SCZ |
| Medsave Health Insurance TPA Ltd | 1800111142 | SR | SZ |
Details of TPA enrolled fo servicing of LIC Health Claims PAN India
| Name of the TPA | Regions | Zones Covered | Toll free Numbers & Contact Details |
|---|---|---|---|
| Healthindia Insurance TPA Services Pvt. Ltd | East, West, North, South, and South Central | East, East Central, West, North, North Central, South & South Central Zones | Toll Free Number – 8976923091 Sr.Citizen Toll Free Number – 8976923092 Email : [email protected] |
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