LIC’s Insurance Week celebrations launched at Kadapa office

98.6% death claims settlement a testament to LIC’s credibility, says Senior Divisional Manager

LIC of India’s Senior Divisional Manager K. Giridhar releasing a poster on ‘Insurance Week’ marking the corporation’s 67th anniversary, in Kadapa on Friday. | Photo Credit: SPECIAL ARRANGEMENT

Life Insurance Corporation of India (LIC) staff launched the ‘Insurance Week’ celebrations commemorating the 67^th Foundation Day of the corporation, here on Friday.

“Our death claims stand at 98.6%, and maturity claims at 92.65%. It is hence the corporation has bagged sixteen prestigious awards and accolades during the last financial year,” said K. Giridhar, Senior Divisional Manager (Kadapa).

Mr. Giridhar inaugurated the celebrations meant to take insurance products to every doorstep. He hailed the Kadapa division as a promising market for LIC in the State. The LIC served 36 crore individuals and group policyholders across the country and achieved a market share of 72%, notwithstanding the tough competition from private players during the last 23 years, he said.

With an ambitious target to provide insurance products to every Indian by 2047, LIC unveiled a strategy to be adopted during this Insurance Week. Marketing Manager Syam Sundar Rao said awareness programmes would be held during this week.