DHAN Foundation had facilitated 50 lakh insurance policies emerging from poor families at the national level in association with LIC of India, and Madurai division alone had covered 90% of the total member families insured under Other Group Insurance.
Speakers at the 10th edition of the five-day biennial conference, ‘Madurai Symposium,’ recalled the efforts to reach out to the poorest of the poor in different parts of the country through its network. Lauding the role of the LIC, they said that the coverage was mutually beneficial. The awareness of insurance had risen in the recent days, especially after the outbreak of COVID-19 pandemic in March 2020.
With LIC’s theme ‘Changing world: unchanged promises,’ the timely response in claim settlement despite pandemic difficulties was highly valued by the policy holders across the nation reflected the Corporation’s commitment.
L. Chendurnathan, Senior Divisional Manager, Madurai Division, LIC of India, in his address acknowledged the significant attempts of People Mutuals, a wing of DHAN Foundation in insuring the lives of the economically weaker section at the national level. He assured to support their new initiatives in association with the LIC.
Divisional Manager (Pension and Group Scheme) Narayanan said that social security was the fundamental right of each citizen. The death rate of the policy holders belonging to DHAN programmes was less than the national average.
In his key note address, M. P. Vasimalai, executive director, DHAN Foundation, stressed the importance of social capital, viability and sustainability of deepening mutual insurance products. Risk management and risk reduction were possible when the community became more resilient, he added.
Leaders from Kalanjiam, Vayalagam and Neithal Movements from 14 States attended the convention through virtual mode and shared their experience of social security facilitated by DHAN People Mutuals.
