LIC sets new records in life insurance business

Bokaro: Life Insurance Corporation of India on Monday celebrated its 63rd anniversary. The corporation has been playing a crucial role in ensuring the people, spreading the message of life insurance and mobilisation of people’s money for people’s welfare, said Sanjiv Kumar, Branch Manager, LIC Bokaro (Branch-1).

The LIC has set new performance records in various aspects of life insurance business – be it new business performance, customer service aspects, use of technology or claims settlement.

While completing 63 years of existence, the LIC has grown from strength to strength by increasing the number of distribution channels capitalising on the experience and emerging as “The Most Trusted Brand” of the country, he said.

LIC has the insurance plans available for people from newborn to 100 years, from the minimum sum assured of Rs. 50000 to Rs. 1 crore, with no limit of maximum, said Kumar. “The plan includes endowment, health, unit-linked, lifetime guarantee pension plan,” he added.

LIC of India today has over Rs 31 lakh crore of assets to manage and is able to serve the policyholders through a vast network of 2048 Branch Offices, 1,481 satellite offices and 1,200 mini offices with a dedicated workforce of 1.12 lakh employees and a loyal army of 12 lakh agents.

The Corporation stands as number one in terms of percentage of claims settled, said Kumar.

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