The Life Insurance Corporation of India (LIC) was not founded by a single individual. It was established by the Indian government through an Act of Parliament. The Life Insurance Corporation Act of 1956, which came into effect on September 1, 1956, nationalized and merged around 245 private life insurance companies and provident societies in India, creating a single state-owned entity known as the Life Insurance Corporation of India (LIC).

The purpose of establishing LIC was to spread life insurance widely across the country, especially in rural areas, and to provide financial protection and security to the people of India. Since its establishment, LIC has grown to become one of the largest and most trusted insurance companies not only in India but also in the world.

(Surendranath Tagore had founded Hindustan Insurance Society, which later became Life Insurance Corporation.)

[Note: This is not lic original website. This is  the only thing to shear information about lic]