The Cuttack Division of the life Insurance Corporation (lIC) of India, the premier division in Odisha, now ranks fourth among all lIC divisions across the country in terms of business and policy covers. This was informed by lIC Senor Divisional Manager PK Sethy on the occasion of the 58th lIC Week celebration here on Monday.
Sethy said the division now handles over 36.62 lakh policies covering 10 of the State’s 30 districts. With a massive network of around 30,000 agents, the lIC in this part of the country continues to be a major life insurance policy provider, he said.
Sethy further informed that the claim settlement record of the Cuttack Division is also considered to be the best in the country. “Having achieved an envious 99.68 per cent of claim settlement and 99.30 death claim settlements, we are constantly making an endeavour to have 100-per cent claim settlement in future,” he added.
The lIC also on the occasion launched a single-premium money back policy called ‘Jeevan Shagun’. The 12-year policy is open for the age group of 8-45 years with ten times coverage of premium deposit of guaranteed loyalty addition with maturity value, sources said.