In other words the corporation's has a total Rs 21,556.17 crore of fresh investible funds at its disposal for both public and private sector investment during 1999-2000. According to government guidelines, LIC devotes 75 per cent of its investible funds in the public sector with the balance going to the private sector.

The LIC board met on Thursday to approve the financial result of the corporation.

The life fund, which signifies the real growth of the public sector juggernaut has grown by 20.37 per cent in 1998-99 against a targeted growth of 20.42 per cent. The institution's life fund during 1997-98 was pegged at Rs 105,832 crore.

Druing the year, LIC's total assets, including the company's investment plus the fixed assets, has moved up by 20.74 per cent to Rs 132,764.39 crore. The totalincome of the institution, which is calculated by adding the investment income and premium income, has increased by 18.29 per cent to Rs 36,352.59 crore during the year. LIC had recorded a growth of 19 per cent in the total income during the year, but it has fallen below the targeted figure of Rs 36,699 crore during the year.

The investment income, which also includes rent receipts of the institution has gone up by 16.71 per cent to Rs 13,183.92 crore from Rs 11,296.32 crore during the year. Earlier, total premium income was pegged at Rs 22,805.80 crore reflecting a growth of 18.46 per cent.

Total claims settlement of LIC stood at Rs 7,615.78 crore for squaring up 59 lakh of policies against Rs 6,673 crore last year for 55.5 lakh policies. The institution has paid Rs 6,237.42 crore for settling 56 policies, which matured during the year. Earlier, LIC's sale of individual new policies was to the tune of 1.49 crore for a sum assured of Rs 75,606.62 crore generating first premium income of Rs 2,695.55 crore.The first premium income of the institution registered the highest growth of the decade. The corporation sold 1.06 lakh policies under various individual pension plans generating the first premium income of Rs 111.14 crore.

LIC covered 12.68 lakh lives under various pension and group schemes generating new business premium income of Rs 443.23 crore. Besides, over 1.29 lakh lives were also covered by the company under various social security schemes for the weaker sections of the society.

The institution will announce its bonus for policy holders in next two to three months of time. It pays 95 per cent of its income in form of bonus and rest five per cent goes Government for valuation surplus to the Goverment.