The Life Insurance Corporation of India (LIC) on Monday launched a new plan ‘Jeevan Shagun,’ which is being rolled out across the country, in Goa.
LIC holds 84.44 per cent market share in number of policies and 75.33 per cent in first year premium income amounting to more than Rs. 90,000 crore for 2013-14.
LIC has around 5,000 Offices across the country, said S. P. S. Vilkhoo, Senior Divisional Manager, LIC, as he spoke to presspersons here during the launch. The LIC has 14 products in its basket, he added.
“Our claim settlement ratio was 99.68 per cent for the year 2013-14. We settled 2.59 crore claims amounting to Rs. 91,186.45 crore,” he said.
During the year 2013-14, LIC tied up with the Government’s National e-Governance Plan thereby making it possible for its customers to pay premiums in more than 1,30,000 Common Service Centres (CSCs) spread across the country, Mr. Vilkhoo added.
