What is LIC? Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company who has its headquartered in Mumbai. It is one of the largest insurance company in India with an estimated asset value of ₹1,560,482 crore (US$230 billion).[2] As of 2013 it had total life fund of Rs.1433103.14 crore with total value of policies…