1956 CE · economy policy

Life Insurance Corporation Is Established

Following nationalisation of life insurance, Parliament passed the LIC Act in June 1956 and the Life Insurance Corporation of India began operations on 1 September 1956, absorbing 245 Indian and foreign insurers and provident societies.

Life Insurance Corporation of India building in Mumbai — 2019 institutional context, not an image of LIC's 1956 establishment. · Credit: Sailko · License: CC BY 3.0

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Life Insurance Corporation of India — History

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