The correct answer is D. All of the above.
The Government of India transacts life insurance business in India through the Life Insurance Corporation of India (LIC), the General Insurance Corporation of India (GIC), and the Postal Life Insurance (PLI).
The LIC is the largest life insurance company in India and the world. It was founded in 1956 and is owned by the Government of India. The LIC offers a wide range of life insurance products, including term insurance, endowment insurance, and whole life insurance.
The GIC is the largest general insurance company in India. It was founded in 1972 and is owned by the Government of India. The GIC offers a wide range of general insurance products, including fire insurance, marine insurance, and motor insurance.
The PLI is a government-owned life insurance company that offers a limited range of life insurance products to rural and semi-urban areas. It was founded in 1884 and is headquartered in New Delhi.
The Government of India transacts life insurance business in India through the LIC, the GIC, and the PLI. These three companies offer a wide range of life insurance products to meet the needs of different customers.