Why life needs to be put in LIC?

The Life Insurance Corporation (LIC), which manages a huge corpus of Rs. 28 lac crores of its policy holders is a thoroughly mismanaged entity. Its pathetic and untenable state of affairs has been widely exposed by the fraudulent ILFS saga. The question is that why life needs to be put in LIC? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.