Union Finance Minister Arun Jaitley today said that LIC would soon insure about one third of India's population by partnering with Prime Minister's Jan Dhan Yojana. Addressing LIC employees at its corporate office in Mumbai, Mr. Jaitley said that LIC is a role model of how a Public sector institution can take prudent commercial decisions. The minister also appreciated the LIC's handling of claims, saying it is much better than the private sector.Jaitley pointed out that the total assets of LIC which amounts to 17.69 lakh crore is almost equal to Government's Annual Budget. He said LIC has also helped the economy by generating employment.