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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, Extra
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The government has amended the Life Insurance Corporation General Rules, 1956, specifically Rule 5, concerning the tenure and reappointment of senior officials.
The amendment replaces the previous provision of 'one further term of four years' with 'reappointment for one further term of up to four years', allowing for more flexibility.
The amended rules came into force on January 27, 2026, the date of their publication in the Official Gazette.
The amendment was issued by the Ministry of Finance, Department of Financial Services, under the powers conferred by the Life Insurance Corporation Act, 1956.
It clarifies that senior officials can be reappointed for a period of up to four years, rather than a mandatory fixed four-year term.
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