Kadapa Municipal Commissioner P. Chandramouleeswar Reddy on Monday launched the 57th Insurance Week celebrations by hoisting the LIC flag and lighting a lamp. LIC Kadapa Senior Divisional Manager G. Babu Rao said LIC’s goal was to enrol policy member from every household in Kadapa division covering Kadapa, Anantapur and Kurnool districts. Mini-offices were set up in Bethamcherla and Uravakonda in the division this year.
LIC has a special place insurance sector and provides life cover, a doctor, Yadavendra Reddy, said in the celebrations in Kadapa branch. Chief Manager of Kadapa branch Sivaram said officers and employees should rededicate themselves to the policy holders. Karimnagar Staff Reporter writes: The LIC of India Karimnagar division topped the country in enrolment of the micro insurance policies albeit Jeevan Madhur insurance policies during the last financial year and was forging ahead to repeat the performance this financial year also.
Disclosing this to newsmen here, LIC Karimnagar senior divisional manager P. Jaipuria said that they had enrolled 1.13 lakh micro insurance policies and emerged toppers in the country during the last financial year.
During this year, against the target of enrolling 90,000 micro insurance policies, the Karimnagar division had so far made 41,000 policies, he said and hoped that they would surpass the target and set a new record.
The senior divisional manager also said that the LIC Karimnagar division had also topped in the country in the settlement of claims during the last financial year. He hoped that they would repeat the same performance during this year also.
Service tax from Oct. 1
Stating that the insurance policies would be imposed service tax from October 1 as per the Insurance Regulatory and Development Authority (IRDA) guidelines, he called upon the people to purchase the insurance policies during this month and avoid service tax of 3.09 per cent. “If a person purchases insurance policies during this month, he will be exempted from service tax forever,” he added. However, as per the IRDA guidelines, the insurance policies purchased from October 1, 2013 would be have service tax, he maintained.
Giving details about the LIC insurance week celebrations, he said that they would conduct various programmes from September 1 to 7 to create awareness about the insurance policies. He said that they would take out a massive motorcycle rally in Karimnagar town on September 5.