About LIC The Life Insurance Corporation of India (LIC) is, India's largest life insurer, has been in operation for more than 65 years. Around 245 private life insurance businesses were merged and nationalized to become LIC in 1956. For Fiscal 2021, it holds a 64.1 percent market share in terms of premiums (or GWP), 66.2 percent market share in terms of New Business Premium (or NBP), 74.6 percent market share in terms of individual policies issued, and 81.1 percent market share in terms of group policies issued. It is also India's largest asset manager. It was the country's only life insurance business until 2000. LIC's product line is diverse and covers a wide range of categories in both individual and group products. Savings insurance products, term insurance products, health insuran
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