Short note on lic stands for.Discuss its organizational structure and

1.	Short note on lic stands for.Discuss its organizational structure and objectives
Answer» nds for Life INSURANCE CorporationORGANIZATION STRUCTURE To perform the functions of tile Life Insurance Corporation of India, a conunittee consisting of 15 members is appointed by the Central Government. One of these members is also appointed as the chairman. The organization structure of Life Insurance Corporation of India has four-tier structure. They are (A) Central Office (B) Zonal Offices (Seven) (C) Divisional Offices (100) (D) Branch Offices (2048). The Central Office is to perform the activities relating to investments, FRAMING and administering the rules and laws of the corporation. Branch Offices carryout almost 90% of the functions related to policyholders. There are seven Zonal Offices and 100 Divisional Offices, which are established on the basis of geographical AREAS. They are discharging their co-ordinating functions relating to the Central Offices and Zonal Offices. The Central Office of Life Insurance Corporation of India is located in MUMBAI. There are several executive committees appointed by the Govemment of India from time to time to review the activities of the Life Insurance Corporation

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Short note on lic stands for.Discuss its organizational structure and objectives

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