Discuss the aims of LIC act of 1956 Pondicherry University 2015

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Discuss the aims of LIC act of 1956? - Pondicherry University - 2015

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By:Divyanshu-Changkakoti

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  • Spread life insurance widely and in particular to the rural areas, to the socially and economically backward claries with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost
  • Maximisation of mobilisation of people’s savings for nation building activities.
  • Provide complete security and promote efficient service to the policy-holders at economic premium rates.
  • Conduct business with utmost economy and with the full realisation that the money belong to the policy holders.
  • Act as trustees of the insured public in their individual and collective capacities.
  • Meet the various life insurance needs of the community that would arise in the changing social and economic environment
  • Involve all people working in the corporation to the best of their capability in furthering the interest of the insured public by providing efficient service with courtesy.

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