Question

What was the mission statement of the Life Insurance Corporation of India?

a.

To spread insurance products all over India, particularly in rural areas and economically backward classes and to provide financial insurance covers against death at low premiums.

b.

To encourage local producers and entrepreneurs through its purchase policies.

c.

To ensure that none of its activities or products or processes will, in any manner, cause harm to the environment.

d.

To never resort to overcharging the customer, even if at times, there exists an opportunity to do so.

Posted under IC90 Human Resource Management

Answer: (a).To spread insurance products all over India, particularly in rural areas and economically backward classes and to provide financial insurance covers against death at low premiums. Explanation:When the government set up the Life Insurance Corporation of India in 1956, its mission was stated to be to spread insurance products all over India, particularly in rural areas and economically backward classes and to provide financial insurance covers against death at low premiums.

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