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The question is, In a normal course of evaluation would LIC have bought such assets?


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1/D-57
Jan 26, 2013
11:03 AM

  L I C is perhaps, relevant overseas, even though they might not be operating overseas. They had certain policies pertaining to insurance, which were not practiced in Europe, and North America, if elsewhere. I mean, their polices were not exactly as liberal as those in the west, but no one in India complained, under the premiership of Indira Gandhi. Insurance companies in the west must not have complained about the policies under which LIC undertook insurance, but they must have been disappointed at the clientele, or most of them, then. Everyone in India was insured by LIC, and most of the people who were insured, weren't very 'affluent'. Today, the why's and any other reasons, for the polices of LIC especially in the past, have some relevance, if not at all, even in the west. It appears, it was govt. practice, that claims were looked into with a certain priority. This must be now, too. 

Aditya Mookerjee
Belgaum, India
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