A) From year 1967 to 1989
B) From year 1956 to 1989
C) From year 1956 to 2000
D) From year 1957 to 1999
E) From year 1956 to 1999
Correct Answer: E
Solution :
LIC had the exclusive privilege of life insurance business in India from 1956 till 1999. The IRDA Act passed in the year 1999 permitted the private insurance companies also to do life insurance business. LIC came into being on 1 September 1956 through the Life Insurance Corporation of India Act, 1956.
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