The lIC Division of Sambalpur in a land mark record crossed the all India achievement in premium collection during the last financial year.
While the achievement of the Sambalpur division is 127.55 per cent, the all India average is 122 per cent, informed senior divisional manger (SDM) of Sambalpur Manoj Kumar Panda while interacting with the mediapersons.
“The entire credit goes to our policy holders, agents, staff and the public at large. We are hopeful of achieving such a target in the years to come, added Panda. He further said that this is for the last four consecutive years that the division has achieved more than the fixed target.
Talking about the division, Panda further said that the division has included 1, 20, 694 policy holders with premium collection of Rs 256 crores during the last financial year. He further said that last year the division has paid Rs 354 core as maturity value to 78, 000 policy holders. At the same time, Rs 56 crore has been paid towards 4,304 death claims.
He also spoke on some new policies introduced recently like Adhar Stamba, Adhar Shila, Jeevan Umang, Bima Diamond, Jeevan Akhay etc. For the Adhar Stamba and Adhar Shila policies, no medical certificate is required for the policy holders although the age limit has been kept at 55 years. Panda further said that in spite of entry of many private companies to the insurance sector since last 17 years, lIC is number- 1 as on now with market share of 74.72 per cent.