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Life Insurance Corporation of India: A Catalyst to Development

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  • Pushpa Kumari

Abstract

The present paper finds how LIC has provided security to the masses, and how it has contributed greatly to the development of the economy through mobilising savings, making investments in development and development-augmenting activities, and in the process, generating employment. It is observed that insurance cover is not concentrated in only urban areas and among well-off individuals/groups; but is equally spread in rural areas and also provides social security to economically weaker/backward people. It is observed that the number of employees has decreased during the 90s. In the light of increasing insurance business, it clearly implies an enhancement in productivity. Its investment structure seems to have undergone a shift in favour of the Govt, securities&related items, and also corporate sector. However, investment in the social and development activities experienced a decreasing trend.

Suggested Citation

  • Pushpa Kumari, 2002. "Life Insurance Corporation of India: A Catalyst to Development," Vision, , vol. 6(2), pages 19-27, July.
    • Handle: RePEc:sae:vision:v:6:y:2002:i:2:p:19-27
    DOI: 10.1177/097226290200600203
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