LIC also known as Life Insurance Corporation of India is an Indian Life Insurance Company. It offers Term Life Insurance Plans, Traditional Savings Plans and Unit Linked Insurance Plans. Founded in the Year 1956, it is owned by the Government of India. The company is headquartered in Mumbai and functions with 2048 fully computerized branch offices, 113 divisional offices, 8 zonal offices, 1381 satallite offices and the Corporate office. The chairman of the company is Mr. M R Kumar..