‘LIC major vehicle for nation-building’

Special Correspondent

KADAPA: Life Insurance Corporation has been the market leader due to innovative policies, adaptability to the changes and dedicated efforts of its staff and will continue to be so, Kadapa Collector Shashi Bhushan Kumar said on Tuesday.

In his inaugural address at the 53rd Insurance Week celebrations at LIC divisional office here, he described LIC as a national treasure and as a major vehicle for nation-building. LIC has gained the trust of the people and was known to almost every family in the country, he said.

He lauded LIC for its splendid performance in Kadapa division, where the per capita income was very less. Aam Aadmi Bima Yojana and Janasri Bima Yojana covered nearly five lakh poor persons in Kadapa district. The Collector felicitated A.R.S. Babu and T. Sikhamani and Tuesday’s first customer A. Rajababu of Mantapampalle.

Interesting facts

Only seven nations in the world have more population than the total number of LIC policies in force, LIC Senior Divisional Manager M. Veerabhadra Rao said on Tuesday. Mr. Rao and union leaders narrated several interesting facts on LIC at the inauguration of the 53rd LIC Insurance Week celebrations. The number of LIC policies added every year was equivalent to the population of Australia. LIC was settling two claims per second on an average. Although the Central government was guarantor for LIC, it never took the former’s assistance. LIC was bearing almost one-third of the Five-Year Plans. Leaders of several LIC unions promised to strive with rededication for further growth of LIC.

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