Our social responsibility
LIC offers life insurance protection under group policies to various groups such as employer-employee, co-operatives, weaker sections of society etc. and insurance coverage to people below poverty line at subsidized rates under social security group schemes like ‘Janashree Bima Yojana’ & ‘Aam Aadmi Bima Yojana’.
The scheme ‘Shiksha Sahayog Yojana’ is a free add-on scholarship benefit that is available for the children of the members who are covered under Janashree Bima Yojana.
Golden Jubilee Foundation
LIC, as a part of its Corporate Social Responsibility, formed a Trust - ‘LIC Golden Jubilee Foundation’ in the year 2006, with the objective of promoting education, health, relief of poverty or distress and advancement of other objects of general public utility.
As on date LIC has put in a Corpus of Rs. 90 Crores towards LIC Golden Jubilee Foundation and interest is distributed for various Charitable Purposes.
So far it has sanctioned projects worth of Rs. 22.35 crore. LIC Golden Jubilee Scholarship Scheme provides scholarship to economically weaker sections of the society to pursue higher education at the rate of Rs. 100000/- per year for 10 students per Division till they complete their graduation/ professional course.
Approximately 2650 students have benefited from the Scheme so far.