Life Insurance Corporation of India is owned by the state government having its Headquarters in Mumbai. LIC was founded on September 1, 1956. The slogan of LIC is “your welfare is our responsibility”. It was founded with an aim to work for the economic welfare of Indian citizens and was awarded the most trusted brand of India in the year 2012. The Golden Jubilee Foundation run by LIC aimed to help the poor and unprivileged society of the country and help them to fight against poverty as much as possible.