Hyderabad: To commemorate the 52nd anniversary of the Life Insurance Corporation (LIC), week-long celebrations are being held from September 1-7, LIC’s zonal manager D D Singh said.
LIC’s business in force (Provisional) includes 23.39 crore policies under individual assurance and 5.10 crore lives under group insurance as on 31March, 2008.
LIC is the largest life insurance company on the basis of number of policies and number of claims settled, with total Life Fund of Rs6,86,616 crore and total assets of Rs8,03,820 crore, making it India’s largest financial institution.
At South Central Zone, “we have provided insurance cover to 61.78 lakh people with first premium income of Rs5,813.65 crore under individual new business, 90.62 lakh lives with Premium Income of Rs1,466.33 crore under Pension & Group Schemes during 1April, 2007 to 31March, 2008, he said.
LIC provides different channels for premium collection through internet, ECS, ATMs, SMS and also through authorized collection centres like AP online and Suvidha outlets, he said.
With a view to help customers interact easily from the place of their convenience, the insurance company has set up information centres in 12 cities including Hyderabad, he added.
To provide easy access to its policy holders, they have also opened over 400 satellite offices across the country, with 108 in Andhra Pradesh and Karnataka.