Life Insurance Corporation of India (LIC) vision 2020 is to have a policy in every pocket. LIC’s chairman D K Mehrotra, said that journey towards vision 2020 is a relay race-baton will get passed on as years change but run must continue till the goal of ‘policy in every pocket’ was achieved.
As per LIC, it is determined to make every Indian feel financially secure and in adequate measure, in terms of life, health insurance and annuity. LIC has vision to reach out to every Indian with these three protections.
Meanwhile, despite a weak economic scenario, LIC has successfully increased its market share. At the end of August 2012, LIC’s market share in terms of new policies increased to 81.25% and 75.95% in terms of new premium.