Life Insurance Corporation of India | 124,373 followers on LinkedIn. The Life Insurance Corporation of India (LIC) is a state-owned Life Insurance Company of India. Founded in 1956, it operates as a Government-Owned Corporation, headquartered in Mumbai, Maharashtra, and is a key player in the life insurance sector in India. LIC offers a wide range of insurance products to cater to different needs of individuals, including Life Insurance, Health Insurance, Pension Plans, ULIPs, Group Schemes and Micro Insurance.