LIC Housing Finance’s parent organization — Life Insurance Corporation (LIC) has collected new premiums of Rs 1.84 lakh crore in FY21. It also paid out Rs 1.34 lakh crore as claims during the year. Despite Coronavirus outbreak where there was a nationwide lockdown imposed during Q1FY21, this is its highest ever new premium collection by LIC.
LIC Housing Finance is one of the largest Housing Finance Company in India. The main objective of the company is providing long term finance to individuals for purchase or construction of house or flat for residential purpose / repair and renovation of existing flat / houses.