A Study on Performance Evaluation of Life Insurance Corporation of India

The life insurance corporation of India plays an important role in providing insurance protection against death and old age on the one hand and accelerating the growth of our economy. Safety and security have become a major concern for everybody. India has considerably developed economically but a section of people still feel unsafe and insecure. Insurance have come up as very important financial services in most part of the world. Insurance is one of the important segments in the economy for its growth. LIC Company provides long term funds that are essential for the development of personnel. This company has witnessed many phases of working, there are days when private sector companies initially then became nationalised. The LIC of India is also seriously competing with other private companies. In a way private players are trying to capture the market features of the LIC of India, which was enjoying a monopoly position for a long period of time. In this study the performance is evaluated. LIC has a capacity of taking up all the customers and return a huge profit. Its success process is determined by the terms of service they provide and it remains as a trusted company to invest for a secured future