Human life is a full of risk. The effective solution of reducing the burden of these risks / losses is insurance. Insurance occupies an important position in the financial sector of an economy. In a period of less than half a century the insurance sector in a country has come in a full circle from being an open competitive market to compete nationalization and then back to a liberalized market. The entry of private player’s in the Indian insurance market has change the nature of competition. But LIC (Life Insurance Corporation of India) continuous to be the dominant life insurer even in the liberalized scenario of Indian insurance and it moving fact on a new growth trajectory surpassing its own past records. Insurance Regulatory and Development Authority (IRDA) has been established to protect the interests of holders of insurance policy and to regulate, promote and insure growth of the insurance industry. The present research work is an attempt to study the performance of LIC after liberalization policy regime