About Life Insurance Corporation
Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of 1560482 Crore. As of 2013 it had total life fund of Rs.1433103.14 Crore with total value of policies sold of 367.82 Lakh that year.
The company was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalized the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.
Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub-standard lives and heavy extra premiums were being charged on them. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates. Starting as Indian enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society. Bharat Insurance Company (1896) was also one of such companies inspired by nationalism. The Swadeshi movement of 1905-1907 gave rise to more insurance companies. The United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative Assurance at Lahore were established in 1906. In 1907, Hindustan Co-operative Insurance Company took its birth in one of the rooms of the Jorasanko, house of the great poet Rabindranath Tagore, in Calcutta. The Indian Mercantile, General Assurance and Swadeshi Life (later Bombay Life) were some of the companies established during the same period. Prior to 1912 India had no legislation to regulate insurance business. In the year 1912, the Life Insurance Companies Act, and the Provident Fund Act were passed. The Life Insurance Companies Act, 1912 made it necessary that the premium rate tables and periodical valuations of companies should be certified by an actuary. But the Act discriminated between foreign and Indian companies on many accounts, putting the Indian companies at a disadvantage.
1. LIC India Recruitment 2015 – 120 Insurance Advisor Posts:
Government of Maharashtra, Life Insurance Corporation of India (LIC), Jeevanship LIC of India Vita has released notification for the recruitment of 120 Insurance Advisor vacancies on permanent basis. Eligible candidates may apply in prescribed application format on or before 30-06-2015. Other details like age limit, educational qualification, selection process, how to apply are given below
LIC India Vacancy Details: Total No. of Posts: 120
Name of the Post: Insurance Advisor
Age Limit: Candidates age should be between 18-33 years as on 01-06-2015.
Educational Qualification: Candidates should possess HSC in Arts (H.S.C.) in Marathi Medium.
How to Apply: Eligible candidates may send their application on or before 30-06-2015.
Last Date for Submission of Applications: 30-06-2015.
2. LIC India Recruitment 2015 – 93 LIC Insurance Agent cum Adviser Posts:
Government of Maharashtra, Life Insurance Corporation of India (LIC) has published a notification for the recruitment of 93 LIC Insurance Agent cum Adviser vacancies on permanent basis. Eligible candidates may apply in prescribed application format on or before 22-06-2015. Other details like age, educational qualification, selection process, how to apply are given below…
LIC India Vacancy Details: Total No. of Posts: 93
Name of the Post: LIC Insurance Agent cum Adviser
Age Limit: Candidates age limit is 18 to 50 years as on 02-05-2015.
Educational Qualification: Candidates should possess HSC, Diploma and SSC & Post Graduation.
Selection Process: Candidates will be called for interview.
How to Apply: Eligible candidates may send their application along with relevant certificates on or before 22-06-2015.
Last Date for Receipt of Applications: 22-06-2015
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