The Life Insurance Corporation of India, Brahmapur Division launched a weeklong celebration of the 63rd anniversary of the LIC here on Sunday.
Addressing a Press meet here, LIC Marketing Manager Gupteshwar Bag, Senior Divisional Manager SP Parichha and Manger BK Padhy said the LIC has now 48 products, including 12 group insurance, two health insurance and two micro insurance. Converged Aam Admi Bima Yojana and converged PMJJBY are administered by the Central Government and implemented through the LIC .
The Brahmapur Division procured 1.98 lakh policies with first premium of 262.48 crore and recruited 1,094 agents last year. The Division has settled 1,82,244 maturity claims and paid Rs 619 crore.
“We were first in all India in settlement of SB claim. We have also settled 5,915 death claims and paid Rs 72.82 crore. We have also advanced loan to 40,554 policyholders an amount of Rs 168.97 crore,” said the officials. The division has given financial help f Rs 9.8 lakh to an NGO named Integrated Development Society of Dashamantpur, Koraput for purchasing vehicle to transport SC/ST schoolchildren, they said.