LIC SALLS AND kL1AIL MANAGLMLN1 kCILC1

Llfe lnsurance CorporaLlon of lndla ls an organlzaLlon whlch was sLarLed ln Lhe year 1936 and
lL's an organlzaLlon whlch ls promoLlng Llfe lnsurance as lLs baslc producL lL has also goL MuLual
lunds Pouslng llnance and PealLh lnsurance as well
LlC has goL lLs presence naLlonally wlLh Lhe help of 2048 branches 103 ulvlslonal Cfflces 8
Zonal Cfflces 2048 8ranch Cfflces 922 + SaLelllLe 8ranch offlces and 1 corporaLe offlce whlch ls
locaLed ln Mumbal
LlC sLarLed lLs Llfe lnsurance CperaLlons ln Lhe year 1936 on 1
sL
of SepLember LlC ln Lhe year
1989 on 19
Lh
!une sLarLed wlLh LlC Ml (MuLual lunds) and LlC PlL (Pouslng llnance LLd) ln Lhe
year 2009 Lhe ldea of PealLh lnsurance came lnLo force and by 2010 LlC was fully operaLlonal ln
Lhe porLfollo of PealLh lnsurance as well As on daLe LlC has goL 4 orLfollos
LlC has goL producLs under Lhese 4 porLfollos on Lhe concepL of Need 8as|s" whlch means
I|tn| 2aroorath Utna n|
LlC ln lLs Llfe lnsurance orLfollo has goL
(a) ndowmenL roducLs 1hese producLs have goL a flxed Lerm of mlnlmum of 3 years and
maxlmum 20 years
(b)Chlldren roducLs 1hese producLs have goL a Lerm of 18 years
(c) uLl roducLs 1hese producLs have goL a Lerm of 7 years and maxlmum Lerm of 20
years
(d)Speclal lans 1hese producLs have goL a mlnlmum Lerm of 6 and 10 years and maxlmum
Lerm of 12 and 20 years
(e) Croup lnsurance 1hese are for Lhe blg corporaLe worklng wlLhln lndla and who have a
employee base of mlnlmum 100 employees ln oLher cases a mlnlmum of 23 employees
ls Laken lnLo conslderaLlon
Note uLl roducLs are Lhe non convenLlonal producLs of Llfe lnsurance as Lhey are MarkeL
Llnked lnsurance lans Lhey have Lhe dual beneflL of Llfe lnsurance and SLock MarkeL
8eneflL ln a secured scenarlo Lhey glve a reLurn of 6 Lo 10 (8Cl)
LlC ln lLs MuLual lund orLfollo has goL
(a) CrowLh lund
(b)SecLor Speclflc lund
(c) lndex lund
(d)C Sec lund eLc
LlC ln lLs Pouslng flnance can fund a sound pollcy holder from a mlnlmum of 8s 1 Lakh Lo a
maxlmum of 8s 1 Crore
LlC ln lLs PealLh lnsurance has goL
(a) PealLh lus
(b)PealLh roLecLlon lus

1aklng Lhe 3 key funcLlons of an organlzaLlon now we are golng Lo analyze LlC as a MarkeLlng
and Sales CrganlzaLlon
1 lannlng As already menLloned Lhey have plannlng ln Lerms of Lhelr producLs whlch
Lhey go markeL and sell ln Lhe markeL 1hey have goL plannlng for upcomlng
professlonals hlgh neL worLh lndlvlduals and for Lhe corporaLe

(a) rofesslonals LlC has goL Money 8ack lan ndowmenL lan Chlldren lan and uLl
lan
(b)Plgh neLworLh lndlvlduals LlC has goL !eevan Anand !eevan 1arang and new 8lma
Cold ln Lhe speclal caLegory of plans
(c) CorporaLe Pouses LlC has goL
1 Croup lnsurance
2 Croup CraLulLy
3 Croup Super AnnuaLlon (enslon lans)
4 Croup Savlng Llnked Llfe lnsurance
3 Croup MorLgage eLc

Note 1he above plannlng ls carrled ouL by Lhe plannlng and markeLlng deparLmenL and Lhey
have a person who goes by Lhe name AcLuarlal erson" (Speclallzed MaLhemaLlclan) who ls
responslble for deslgnlng Lhese plans 1hese plans are Lhen revlewed by Lhe apex offlce whlch ls
Mumbal and Lhen afLer LhaL offlclal announcemenL ls glven ln fronL of publlc

2 Crganlzlng ln Lerms of organlzlng LlC has goL lLs presence ln all Lhe elecLronlc and prlnL
medla whaLever noLlflcaLlon relaLlng Lo LlC comes prlmarlly ln all Lhe ngllsh and all Lhe
reglonal language news paper and LlC ls 2
nd
ln lndla for uslng hlgh amounL of servlces
wlLh respecL Lo lnformaLlon 1echnology and also any klnd of recrulLmenL and selecLlon
for employees wlll come ln all Lhe newspapers and on Lhe offlclal slLe LlC has also goL a
sLrong presence ln Lerms of soclal neLworklng slLes as well AparL from Lhls exhlblLlon
shows and organlzlng any klnd of masslve evenL LlC ls one of Lhe premler sponsors and
also sponsorlng for Lhe dally soaps as well LlC ls one of Lhe key sponsored

3 SLafflng lor SLafflng Lhe organlzaLlon seLup ln my flrsL word documenL can be
consldered

4 Leadlng ln Lerms of Leadlng Lhe organlzaLlon has goL
(a) uevelopmenL Cfflcers for Llfe lnsurance ConsulLanLs
(b)unlL Managers for MuLual lund Advlsors
(c) uevelopmenL Cfflcers for Llfe lnsurance ConsulLanLs who are responslble
for also selllng PealLh lnsurance lans
ln case Lhe organlzaLlon needs for selllng a hlgh sum assured pollcy LlC has dlrecLed Lhe servlces
of Senlor ulvlslonal Manager and ulvlslonal MarkeLlng Manager (AL Lhe ulvlslonal Level) LlC aL
Lhe branch level can alloL Lhe servlces wlLh Lhe help of AddlLlonal 8ranch Manager (Sales) and
8ranch Manager (AL Lhe 8ranch Level) 1he above menLloned 4 persons can asslsL Lhe
uevelopmenL Cfflcers and Lhe lnsurance ConsulLanLs
3 ConLrolllng ln Lerms of conLrol
Apex Cff|ce (Mumba|) 1he Chalrman (LlC of lndla) conLrols all personnel's worklng for
LlC of lndla
2ona| Cff|ce Zonal Manager conLrols Lhe Leam of 8eglonal MarkeLlng Managers Lhelr
underwrlLers Lhe supporL sLaff
D|v|s|ona| Cff|ce Sr ulvlslonal Manager conLrols Lhe ulvlslonal Manager MarkeLlng
Managers Lhelr respecLlve Chlef Managers and Lhe underwrlLers eLc
8ranch Cff|ce ln Lerms of 8ranch Cfflce LlC has goL Chlef Managers for performlng
branches and 8ranch Manager for meeLlng up Lhe LargeLs ln case of Chlef Manager
geLLlng appolnLed aL Lhe branch dlvlslonal offlce sends AddlLlonal 8ranch Manager from
ulvlslonal Cfflce AL branch offlce Lhe Chlef Manager conLrols A8MS (Sales)
underwrlLers varlous deparLmenLal heads sub sLaff uevelopmenL Cfflcers and
lnsurance ConsulLanLs