The life Insurance Corporation (lIC) that has completed 57 years of service in the country is making all out efforts to cover the entire population of the country under the ambit of insurance.
At the same time, the lIC would also play a role for the students of the weaker section for their education and economic development, said senior divisional manager (SDM) of Sambalpur lIC division NC Bhatta during the celebration of Insurance Week here.
Talking about the success of the lIC in the country, Bhatta said that the lIC sold new policies worth Rs 367.82 lakh in 2012-13. At the same time, it collected Rs 76,245.64 crore as the first premium. In Sambalpur division, 2,31,446 new policies were procured with collection of Rs 140.82 crore as the first premium, he said.
The market share of the lIC is 83.24 per cent and 71.25 per cent in first premium sector that again establishes lIC’s leadership in the the insurance sector, Bhatta boasted. The lIC has also insured 304.61 lakh lives under pension and group schemes and 132.24 lakh lives under social security schemes, the SDM said.
So far as payment to the policy holders is concerned, the lIC paid Rs 74,077.84 crore to settle 183.63 lakh claims last year. In Sambalpur division, Rs 283.86 crore was paid to 85, 470 policy holders to settle claims, the SDM informed. The division also opened satellite offices and mini offices to provide services to the customers at door step.
The SDM further said that the lIC supported wide ranging projects for construction of schools, hospitals, hostels, old-age homes as part of the CSR activities. A building at a cost of Rs 9.12 lakh was constructed at the Isaac Santra Balniketan at Phuljharan for the destitute children.
During the celebration of the Insurance Week, an insurance awareness rally, blood donation camps, debate competition among the school students and health camps in villages would be organised, informed marketing manager GK Jena.