Life Insurance Corporation of India (LIC) is an Indian State-owned Insurance Group and Investment Corporation owned by Government of IndiaThe Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalized the Insurance industry in India. Over 245 Insurance Companies and Provident Societies were Merged to create the state-owned Life Insurance Corporation.Founded 1 September 1956.We are Providing insurance policy to our customers. our claim ratio is 99.98%.Our New Policy is Jeevan Labh. In which you have to invest Rs.10,000 per Month i.e Rs19,20,000 as 16 years amount. You will get Rs 67,50,000 as a maturity amount. In this loan facility, the pension plan is also given. you can save tax under 80(c) and 10(10D).