LIC` journey, since 1.9.1956

On 1st Sept. 1956, the LIFE INSURANCE CORPORATION OF INDIA started its journey.

And it completed, 53 years, on 1st Sept. 2009.

The performance of LIC has been excellent and is getting better, as the days are passing by.

Even after, the entry of some pvt. players for almost a decade now, LIC still rules the life insurance market. And is the no. 1.

Some highlights of LIC` s performance :

NEW BUSINESS DURING YR. 08-09 ( AS ON 31.3.09 ) :

~ TOTAL INCOME : RS. 2,00,280.65

~ TOTAL PREMIUM INCOME : RS. 1,57,186.55

~ TOTAL POLICY PAYMENTS : RS. 53,250.37

~ TOTAL LIFE FUND : 8,07,317.43

~ TOTAL ASSETS : RS. 8,73,551.35

One of the objectives of LIC was social welfare, and it has remained committed to it.

Below are the figures which tell about its contributions to social welfare :

Yr. > Contributions ( cr. )

1956-1961 > 184
1961-1966 > 285
1969-1974 > 1530
1974-1979 > 2942
1980-1985 > 7140
1985-1990 > 12969
1992-1997 > 56097
1997-2002 > 170929
2002-2007 > 394779
2007-2009 > 218510

AWARDS LIC HAS WON :

~ READER`S DIGEST TRUSTED BRAND AWARD ( PLATINUM ) 2009

~ BRAND EQUITY`S MOST TRUSTED BRANDS 2009

~ DECLARED " SUPER BRAND 2009 "

~ LOYALTY AWARD, 2009

~ CNBC AWAAZ CONSUMER AWARD

~ NDTV PROFIT BUSINESS LEADERSHIP AWARD, 2009

~ ASIA BRAND CONGRESS BRAND LEADERSHIP AWARD, 2009

~ IT USER 2008 NASSCOM AWARD

~ GOLDEN PEACOCK INNOVATIVE PRODUCT AWARD, 2008

~ NO. 1 AMONG " INDIA`S TOP 50 SERVICE BRAND " in Pitch / IMRB
International Survey

~ CUSTOMER & BRAND LOYALTY AWARD 2008 in the LIFE INSURANCE category

CLAIM SETTLEMENT PERFORMANCE ( 2008-2009 ) :

~ TOTAL CLAIMS SETTLED : OVER 149 LAKH CLAIMS, AMOUNT PAID TO THEM, RS. 37893 CRORES

~ 97 % OF MATURITY CLAIMS SETLLED ON OR BEFORE THE DATE OF MATURITY

~ 93.22 % OF NON-EARLY DEATH CLAIMS SETTLED WITHIN 20 DAYS OF INTIMATION

~ OUTSTANDING CLAIM RATIO : ( MATURITY + SURVIVAL BENEFIT ) : 0.26

~ OUTSTANDING CLAIMS RATIO : ( DEATH CLAIMS ) : 2.21 %