The Life Insurance Corporation of India (LIC)'s unit-linked Endowment Plus, an investment-cum-insurance policy, was launched at its Arundelpet branch here on Monday by MLC K.S. Lakshman Rao and LIC Senior Divisional Manager (Machilipatnam) P Mallikarjuna Rao.
On the occasion, Mr. Lakshman Rao said LIC had been rendering the best services to its customers amidst stiff competition from private companies.
LIC could withstand the vagaries of financial markets whose doors were thrown open to private capital and participation in the 1990s. It was the goodwill among customers that enabled LIC beat the competition and rule the insurance sector with a market share of nearly 75 percent.
LIC's performance has been excellent due to the efforts made by its strong field force, officers and staff and agents, Mr. Lakshman Rao said and exuded confidence that it would continue to be the leader for a long time.
The Endowment Plus would certainly set a new record just as the Bima Gold and Money Plus had secured their place in the Guinness Book of World Records, Mr. Mallikarjuna Rao asserted and exhorted officers and staff to give the LIC's new offering a big push in the market.