The insurance sector in India has witnessed the different phases viz. open competitive market, nationalised market, liberalised market and highly competitive market. After the foundation of IRDAI, private insurance players started entering the life insurance industry in India. At present, there are twenty three private life insurers and one public life insurer. The structure of the insurance industry has undergone a drastic change since liberalisation. It has been observed that the total business, earnings and market share of giant LIC of India have been affected. In this context, the present paper is an effort to appraise the performance of LIC of India on the basis of New Business in India under Individual Assurance in respect of Annual Premium, Number of Policies and Sum Assured.