<h1>LIC Dominates Insurance Market with Over 70% Share, Boosted by Diverse Products and Strong Agent Network.</h1> The Life Insurance Corporation of India (LIC) continues to dominate the insurance market with a 70.52% market share in first-year premiums and 75.64% in policies as of December 31, 2019. The Union Minister of State for Finance highlighted LIC's diverse product offerings, including Term Assurance, Endowment, and Pension plans, aimed at different societal segments. LIC recruited over 114,000 agents and 4,374 Development Officers in 2019, contributing to a 17.81% growth in policies sold. The corporation's strategies and appealing product features, like higher surrender value and flexible benefit options, are expected to help it surpass the three crore policy benchmark.