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The Life insurance pot of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance assiduity in India. Over 245 insurance companies and provident societies were intermingled to produce the state-possessed Life Insurance Corporation of India.

As of 2019, the Life Insurance Corporation of India had a total life fund of ₹28.3 trillion. The total value of vended programs in the time 2018 – 19 is ₹21.4 million. Life Insurance Corporation of India settled 26 million claims in 2018 – 19. It has 290 million policyholders.

LIC invests in sectors similar as banks, cement, chemicals and diseases, electricity and transmission, electrical and electronics, engineering, construction, and structure, presto- moving consumer goods, finance and investments, healthcare, hotels, information technology, essence and mining, motor vehicles, and ancillaries, Oil and natural coffers, retail, textiles, transportation, and logistics.

What are the benefits for LIC Policyholders in LIC IPO?
In 2022-2023 budget officials announced that up to 10 percent of the LIC IPO issue size would be reserved for its policyholders. LIC officials inform its policyholders to update their PAN card details, so they can avail themselves of the advantage in the proposed public offer.

If you are a LIC policyholder and going to apply for upcoming LIC IPO then you need a Demat account and also your PAN card details must be updated on your policy records.

How can LIC Policyholders check and update PAN with LIC policy?
Go to https://linkpan.licindia.in/UIDSeedin...
Enter your Policy Number, Date of Birth (dd/mm/yyyy), PAN and captcha in the designated boxes. There after press Submit.
How can LIC Policyholders link PAN card details with LIC policy?
Either go to LIC’s official website https://licindia.in/ or visit the direct page https://linkpan.licindia.in/UIDSeedin...
If you go to the website, on the home page itself select the ‘Online PAN Registration’ tab
In the Online PAN Registration page, tap the ‘Proceed’ button at the bottom.
Thereafter, on the new page, enter date of birth, gender, email id, PAN, full name as per PAN, mobile number, and LIC policy number.
Click the declaration checkbox.
Enter the captcha into the box.
From your registered mobile number, request an OTP.
On receiving the OTP, key in the digits into the portal and submit.
Competitive Strength
In FY 2018-19, LIC’s total asset volume was Rs 31.11 lakh crore
In 2018-19, LIC’s total premium receivable was 2 lakh crore
In 2019, LIC’s investment volume stood at Rs 29.84 lakh crore, including investments in debt and equity
LIC is the country’s largest insurer with 68.9 percent market share in the new business premium collection and 60.9 percent in annual premium collection