Life Insurance Corporation (LIC) of India?is the only public sector Life Insurance Company in India.?LIC?was formed in 1956 with the merger of more than 200 insurance companies and provident societies.?LIC?is the largest life insurance company in India with a huge presence in both urban and rural markets. Its distribution is unmatched and has a strong agent force which reaches out to every small town in India ensuring that their products are being offered to one and all in the country.