LIC has been a nation builder since its inception in 1956 with the main objective of spreading the doctrine of Life Insurance to every nook and corner of the country especially in the remote rural areas and to reach the less privileged and downtrodden class of society. It has stood the test of time for the last 58 years and is today an “icon” of trust, confidence and reliability.

LIC's Vision is to become "A trans-nationally competitive financial conglomerate of significance to society and occupy a place of "Pride of India" in the heart of every Indian.

LIC's mission is "to ensure and enhance the quality of life of people by providing financial security through its products and services of aspired attributes with competitive returns, and contribute to the economic growth & development."

Today, LIC is the largest insurance company in the world in terms of number of customers. As a single largest investor in the Indian market with major investments in the Government securities, it forms the backbone of Indian Economy.

LIC serves its customers through 8 Zonal offices, 113 Divisional Offices, 2048 branches, 1346 Satellite offices, 73 Customer Zones, 25 MASH (Metropolitan Area Service Hub)centers, 30557 Premium Acceptance Points, 2137 Life Plus offices, with more than 1,20,000 employees and 11.95 lakh agents. It provides insurance services in several countries abroad through branch offices (UK, Fiji, Mauritius), JVs (LIC Bahrain, LIC Nepal, LIC Sri Lanka, Kenya, Saudi Arabia ) and a representative office in Singapore. LIC provides other financial services through its various subsidiaries viz. Pension (LIC Pension Fund), Housing Finance (LIC HFL), Mutual Fund (LIC Nomura MF),Credit cards (LIC Cards Services Ltd.), Financial Products distribution (LIC HFL Financial Services Ltd), and LIC HFL Care homes.

LIC has been fulfilling its social responsibilities and obligations in the Corporate sector and mainly through its contribution in the Five year plan to society. In fact, most of our investments are geared towards industrial growth, infrastructural growth and national development. LIC has formed a Trust named 'LIC Golden Jubilee Foundation'. The grant amount sanctioned so far under various projects is Rs.52.34 Cr.

Its other initiatives include donations to Prime Ministers’ National Relief Fund, Chief Ministers' Relief Funds of various states as also Rajiv Gandhi Foundation to help relief measures in case of calamities. It has also been rendering support to hospitals by providing ambulances and mobile health vans. For senior citizens, they have pension schemes, LIC HFL Care Homes (assisted community centers

LIC is wholly owned by the Government of India and has consistently declared dividends right from its inception. It has met all the guidelines prescribed by Insurance Regulatory and Development Authority (IRDA), with regard to Investment of funds, Solvency and Policyholder servicing. It is also responsive to all the institutions that work for the customer's interest like customer forums, courts and ombudsman.