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Synopsis The LIC of India has emerged as one of the important financial institutions entrusted with the responsibility of financing economic growth of our country. It has been playing a catalytic role in strengthening the financial and social fabric of our nation. There has been a major thrust in the activities of LIC both at covering the poorer and vulnerable sections of India socially through group insurance scheme and investing the income for building infrastructure for socially oriented projects. Based on secondary sources of data the present work highlights the role of LIC in the social sector development of our country. The analysis of various dimensions of LIC finance has relevance to the future growth trend, their implications on socio-economic development of our country. Such studies are of much significance to the economists, researchers, policy makers and planners of our country in formulating policy for accelerated development of the economy.