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Question
Which of the following is the only public sector company in the field of life insurance?
Options
New India Assurance Company
Oriental Insurance Company
ICICI Prudential Life Insurance
Life Insurance Corporation of India
MCQ
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Solution
Life Insurance Corporation of India
Explanation:
LIC was established in 1956 and is the sole public sector life insurance organization. It plays a significant role in providing financial protection to families and individuals against life risks. Being a government-owned corporation, LIC has a unique position as the only public sector life insurance company in India.
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