Life Insurance Corporation Act, 1956 alongwith Rules

This comprehensive edition compiles the Life Insurance Corporation Act, 1956, along with all relevant Rules, providing a complete statutory framework for the formation, governance, and administration of the Life Insurance Corporation of India (LIC). The Act establishes LIC as a government-owned insurance company, detailing its powers, responsibilities, and functions in administering life insurance policies across the country. Enhanced with detailed commentary, interpretative notes, and practical guidance, this volume covers statutory provisions related to corporate governance, policy issuance, fund management, regulatory compliance, and LIC administration. It also explains procedural aspects for policyholders, LIC employees, and government oversight mechanisms. Cross-references to key legal provisions and examples make the book a practical resource for legal practitioners, insurance officers, policymakers, and finance students. Ideal for legal professionals, insurance practitioners, regulators, corporate officers, and researchers, this edition bridges statutory law and real-world application, offering clarity on LIC’s statutory obligations and operations. By combining statutory text, rules, and expert commentary, it serves as a single reference for insurance governance, compliance, and policy administration in India.