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LIC ACT.1956?


LIC founded on September 1 ,1956 then Parliament pass the act.and nationalized Life insurance in India.

It's head office is at Mumbai.

In 1955,Parliamentarian Firoz Gandhi raised the matter that fraud in private insurance agencies then after investigation ,it became nationalized on 1 st September 1956.

LIC Slogan-"Your welfare is our responsibility"

In sanskrit-"Yogakshemam Vahamyaham"from Bhagabat Gita 19th chapter 22nd means "I carry what they lack and preserve what they have "(refers to Lord Krishna speaks to Arjun)

Now LIC has prepared for  6 big changes in 1956 act.as following.

Retail invester and employee of LIC , can get 5% reserved share.

Retail Invester can get 10% discount for purchasing of Share..




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