Welcome To

C.N. Prasad is a LIC (Life Insurance Corporation of India) insurance advisor located in Wagholi, Pune. He is known for his experience and is recommended by reviewers for having a policy from him. His office is open 24 hours a day and can be reached by phone, WhatsApp, or through online inquiries.

  • Location: Shop No 5 0656, Kolte Patil IEV Estate, Wagholi, Pune - 412207.
  • Reviews: C.N. Prasad has a high rating of 4.8 based on 4.8 reviews.
  • Payment: Cash payments are accepted.
  • Availability: The office is open 24 hours a day, 7 days a week.
  • Services: He is an experienced advisor and can help with various LIC policies.

🏢 What is LIC?

A state‑owned life insurer founded on 1 September 1956, through the nationalization of 245 insurance companies. Headquartered in Mumbai, LIC is India's largest insurance provider and institutional investor. LIC is a cornerstone of India’s insurance ecosystem—boasting a vast outreach, exceptional financial metrics, government backing, and strong social commitments. It offers a comprehensive suite of products—life, health, pension, and investment—through robust online infrastructure and traditional channels.

🧮Financial & Business Highlights

  • AUM: Around ₹54.5 lakh crore (≈ US $640 billion) as of March 2025
  • Revenue & Profits: FY 2024–25 Q4 net profit jumped ~38% year-over-year to ₹19,013 crore (~US $2.3 billion) .
  • Recent Q1 FY24 results: Reported ₹95.4 billion profit for Q1—a dramatic rise from ₹6.8 billion the year before, largely due to fund transfers and investment income surge.

    • 🎯Core Objectives & Mission

  • Extend life insurance coverage widely, especially in rural and underprivileged areas.
  • Maximize savings mobilization and community-oriented investment.
  • Operate cost-effectively and transparently as a trustee of policyholders’ funds.

    • 📈Market Position & Performance

  • Holds more than 70% market share in India’s life-insurance sector with ~290 million policyholders .
  • Known for high claim settlement ratio (~98.6%) and strong solvency (~187–198%) .

    • 🏛Management & Governance

  • The Government of India owns ~96.5% shares; regulated by the Finance Ministry.
  • Top leaders include Sat Pal Bhanoo (CEO & MD) and several MDs like Doraiswamy Ramchandran.
  • FSIB recently recommended R. Doraiswamy for CEO & MD role.

    • 🌐Products & Services

  • Offers life, health insurance, pension and mortgage products, plus asset and investment management via its subsidiaries .
  • Digital channels include online plans like ‘Jeevan Utsav’, term covers, cancer and health policies .

    • 🤝Social Initiatives & Outreach

  • Scholarships via the Golden Jubilee Foundation, rural agent programs, disaster relief support, and fast-track claim settlement in crises (e.g., Air India crash, Pahalgam terror attack).
  • Bima Sakhi initiative empowers women as LIC agents with starting stipends (₹7,000/month).

    • 🧠Financial Strength & Trust

  • Globally, LIC is among the largest life insurers by policy count (~290 million), agents (~1.2 million), and annual claims settled (~20 million).
  • AUM exceeds combined GDP of smaller South Asian economies, signifying massive scale.

    • 📊Latest News & Updates

  • Q4 FY 2024–25: Profit surged 38%, final dividend ₹12/share declared.
  • Home loan rates: LIC Housing Finance has reduced interest rates to 7.50% following RBI policy cuts.
  • Recent fraud: Four individuals in Ahmedabad were scammed by a fake job promise tied to LIC; EOW is investigating.

    • Welcome To

    Services

    Insurance is a financial agreement between an individual (or business) and an insurance company. The insured pays a premium, and in return, the insurer promises to provide financial protection or reimbursement for specific losses, damages, or risks.

    Life Insurance

    Life insurance is a financial product that provides a monetary benefit to designated beneficiaries upon the death of the insured person. It’s primarily used to provide financial security to loved ones and can also serve other purposes like estate planning or wealth transfer.

    Health Insurance

    Health insurance is a type of coverage that pays for medical and surgical expenses incurred by the insured. It can also include benefits like preventative care, mental health services, and prescription drugs. Health insurance protects you from high medical costs and helps ensure access to necessary healthcare services.

    General Insurance

    General insurance is a broad category of non-life insurance policies that provide financial protection against risks other than death (which is covered under life insurance). It includes coverage for property, health, travel, vehicles, and liability—essentially anything that can be lost, stolen, damaged, or sued over.

    Contact

    Address

    Kolte Patil IVY Estate, Opp.Reliance Smart Point, Shop No.5, Shinde Shop, Wagholi, Pune 412207.

    Call Us

    9552510221/9359064359

    Email Us

    cnprasad.lic@gmail.com