The Central Government has notified an important amendment to the Life Insurance Corporation General Rules, 1956, providing greater clarity on the tenure and reappointment of senior officials of the Life Insurance Corporation of India (LIC). The amendment was published in the Gazette of India, Extraordinary, on January 27, 2026.
Key Change in Rule 5 of LIC General Rules
As per the Life Insurance Corporation General (Amendment) Rules, 2026, Rule 5(1)(i) has been modified to replace the earlier provision of "one further term of four years" with "reappointment for one further term of up to four years." A similar substitution has also been made in the proviso to the same rule.
This change introduces flexibility by allowing reappointment for a period up to four years, instead of mandating a fixed four-year term.
Amendment Effective Immediately
The notification clarifies that the amended rules shall come into force on the date of their publication in the Official Gazette, making them effective from January 27, 2026 itself.
Issued under the LIC Act, 1956
The amendment has been issued by the Ministry of Finance, Department of Financial Services, under the powers conferred by Section 48 of the Life Insurance Corporation Act, 1956. The notification has been signed by Shri Parshant Kumar Goyal, Joint Secretary , Ministry of Finance.
Background
The Life Insurance Corporation General Rules, 1956 have been amended multiple times since their inception to align with administrative and governance requirements. This latest amendment continues that process by refining the language related to tenure and reappointment of LIC officials.
Official copy of the notification has been attached
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