Case Study LIC Why is LIC the largest company in the insurance sector?

Why is LIC the largest company in the insurance sector? In a way, Life Insurance Corporation of India is a successful company in the insurance sector. A few months back, LIC also included IDBI Bank itself. Insurance company Life Insurance Corporation of India is at the top of success today. Do you know whose hand is behind this? Because, behind every successful man, there is a woman’s hand. But, this is not the case in Amitabh Bachchan’s film Sooryavansham. Here the man has a hand in the success of the woman.

LIC (Life Insurance Corporation of India) is neither female nor male, yet it is a successful insurance company. The credit for this goes to all respected account holders. It has the highest market city in the insurance sector.

LIC Success Story

LIC insurance company also supports ‘with life, and after life. You may not know, and some insurance consultants may not even know. Life Insurance of India was started by the Government of India by merging 245 (two hundred and forty-five) companies. By the way, the government takes such concrete steps that it is not able to get up. But, steps were taken in this matter also and today Life Insurance Corporation of India remains the top company with 70% market share.

Do you know which is the fifth largest country in the world? Nobody needs to know this. Tomorrow there is no bank, SSC railway exam. This was asked because if all the employees and policyholders of Life Insurance Corporation of India are merged, it will become the fifth largest country in the world!

Some people say that every household has become a LIC insurance agent, so there is no use in becoming a life insurance agent in India. I’ll tell them. Not only agents from house to house, the population is also increasing accordingly. Some relative around your house must be associated with this company in some way or the other. This company was started in the year 1956 and over the years it has made its mark by building the largest building in the country, in which more than one lakh people are working directly and about 11,55,000 insurance consultants are working with it. Huh.

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Why LIC is so popular

Often you must have heard that people do not talk about insurance plans, but talk about LIC. For example, if the customer has bought insurance from some other insurance company, then LIC speaks only. Like Whenever we have to take a bottle of water, we speak only Bisleri. Even if you are buying a bottle of another brand instead.
There are many such insurance companies which come into the discussion only two, three, and four thousand crores. But, with Life Insurance Corporation of India’s 15000 crores in the year 2018, yes you are reading absolutely right. Not fifteen thousand crores, but much more unclaimed money. who has no creditor.

Official Website of LIC https://licindia.in/

LIC Mutual Funds https://www.licmf.com/

Life Insurance Corporation of India had no competitors for the next 44 years from 1st September 1956. For so many years, this company alone continued to serve the entire country honestly. At that time it had only a limited policy, at that time LIC did not have any policy like a term plan. From the year 2000, the Government of India also started giving insurance licenses to private insurance companies. After this many insurance companies came to the country and some companies robbed the customer’s money too! At present, there are 24 registered life insurance companies operating in India. Out of which only LIC is a public sector company.

Even after coming into such a private company, Life Insurance Corporation of India remains in the top position. The credit for this goes to the respected policyholder. Sometimes we hear something wrong, some agent did it wrong, then some employees working here. As you all know that money is given for not doing a government job, and something similar is also for some employees working in LIC. They come to the office only to earn some extra income!

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History of LIC | LIC of India Success story in Hindi

Life Insurance Corporation of India (LIC) brought many new insurance policies to the market according to the time and need. It made all possible changes for the policyholders. Today you know the status of Bharat Sanchar Nigam Limited (BSNL). Even after that nothing changed in it. But, LIC of India made every effort and got successful.

Apart from this, LIC has 10-15 percent money of many other big companies in the country like ITC, and SBI. IDBI Bank was started on 01 July 1964. Despite being the largest bank in the country, its 51% stake is held by LIC of India. Today the parent organization of IDBI Bank is LIC of India. The credit for this goes to all the policyholders of LIC.

Today it is the best life insurance company in India and will continue to be the top life insurance company in the country in the future as well. The reason for this is that it keeps on making changes in the product according to the time and need of the customer. It is providing various types of sales training to the insurance advisors as per the time. Talking about its advertisement, if you want to become LIC Insurance Agent with new policy information then you are welcome, this kind of promotion was also done. For this reason, LIC insurance agent is present in every street, locality, village, and city. Insurance is definitely a matter of solicitation. But, one who learns to persevere will become the best. The biggest reason for the sinking of a company is working without any good planning.

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Anyone can earn money with LIC

LIC offers a lot of benefits to its policyholder as well as the life insurance agent. This company has generously given money and facilities to its insurance agent. Any agent who did this as a full-time job filled their life and home with happiness. Hardly you have heard that any LIC agent has started working in any other insurance company except LIC of India. If done then not with Life Insurance Corporation of India otherwise not with anyone else. It is said that what we saw became ours, it is with LIC. LIC has never allowed anyone to take matters into its own hands. For this reason, LIC still has the largest number of policyholders.

The more you write about the LIC of India, the more work you get. Often people think, LIC is a government organization. It doesn’t work well here. But, it is not that being a government company, it is always ready to serve its customers. No one is perfect so here also some mistakes happen and some LIC agents and some LIC employee do these mistakes. One piece of advice is from my side if discipline and customer support is a little improved in LIC like a private company, then, believe me, the customer’s first and last choice will be LIC of India (Life Insurance Corporation of India).

So, this was the case study about LIC of India, I hope you like this article, thanks for reading.