The correct answer is: A. 1956
The Life Insurance Corporation of India (LIC) was nationalized on 1 September 1956. It is the largest life insurance company in the world in terms of premium income. It was formed by the merger of 245 private life insurance companies in India. The LIC is a government-owned company and is headquartered in Mumbai.
The LIC offers a wide range of life insurance products, including term insurance, endowment insurance, whole life insurance, and unit-linked insurance plans. It also offers pension plans and annuity plans. The LIC has a network of over 2,000 branches and over 1.3 million agents across India.
The LIC has been a major player in the Indian life insurance industry. It has helped to increase the penetration of life insurance in India. It has also helped to improve the financial security of millions of Indians.
The LIC has been criticized for its high costs and its poor customer service. However, it remains the most popular life insurance company in India.
Option B is incorrect because the LIC was not nationalized in 1956. It was nationalized on 1 September 1956.
Option C is incorrect because the LIC was not founded in 1934. It was founded on 1 September 1956.
Option D is incorrect because the LIC was not nationalized in 1964. It was nationalized on 1 September 1956.