The network of LIC agents in the country is humongous. According to Life Insurance Council, the number of LIC individual agents as of March 31, 2021, were 13.53 lakh compared to a total of 11.01 lakh agents for over 20 private life insurers.
The company offers a wide variety of life insurance plans, endowment plans, whole life plans, money back plans, term insurance plans and insurance riders.
According to LIC's 2019-20 annual report, LIC had a market share of around 69% in the life insurance space.
Apart from life insurance, LIC has the following businesses: LIC Housing Finance, LIC Mutual Fund, LIC Pension Fund, LIC Cards Services. In 2019, LIC acquired IDBI Bank as well.
LIC has over 1.14 lakh employees.
LIC also directly operates through its foreign branch offices in Fiji (Suva and Lautoka), Mauritius (Port Louis) and United Kingdom (Wembley).