As on 31st March 2013 the LIC does not publish the job position for MBA, but in Nov 2012 the LIC publish the recruitment notification for ADOs that requires MBAs, here are the details:

ADO:

Eligibility:
The applicant should have completed MBA in Marketing OR Post Graduate Diploma in Marketing, bcoz the LIC ADO is a Marketing and Sales Job.

The applicants age must be aged 21 to 30 years.

Pay Scale
11535-700(2)-12935-825(2)-14585-840(17)-
Rs 28865 (Plus Allowances and Other Benefits)

Selection procedure:
The selection is based on the must be aged in 21 to 30 years.

Application Fee:
The application fee was Rs 500

Important dates;
Last Date for submitting online application:
22 December 2012

Date of the Online Test:
2 February 2013 and 3 February 2013

Last Date of Submitting Application Fee: 29 December 2012