Explanation:

- Option 1: T C Susheel Kumar - There is no notable public information available about T C Susheel Kumar being appointed as a Managing Director of the Life Insurance Corporation (LIC) during this time frame.

- Option 2: Rajeev Arora - Similar to T C Susheel Kumar, there is no relevant data indicating that Rajeev Arora was appointed as a Managing Director of LIC in February 2021.

- Option 3: Pankaj Jain - Pankaj Jain's name is not associated with the appointment as a Managing Director of LIC in February 2021.

- Option 4: Siddhartha Mohanty - Correct Answer. Siddhartha Mohanty was appointed as the Managing Director of the Life Insurance Corporation of India (LIC) in February 2021. Before this, he served as the Chief Executive Officer of LIC Housing Finance.

The correct answer is Option 4: Siddhartha Mohanty.