LIC Nagpur Division garners 3.46 lakh policies in financial year 2017-18

Source: The Hitavada      Date: 02 Sep 2018 10:16:43


Business Bureau,

LIFE Insurance Corporation of India (LIC) completes 62 years of its incorporation on Saturday. In its 62 years of existence, LIC has grown its customer base, agency network, branch office network, new business premium and has played a significant role in spreading the message of life insurance among the masses and mobilisation of people’s money for their welfare.

LIC Nagpur Division has procured a total 3.46 lakh insurance policies and stood at fifth position out of total 112 divisions in the country as on March 31, 2018. The total first year premium amounted to Rs 636 crore securing all India nineth position during the same period.

Announcing this here at a press conference on Saturday, Mukesh Chandra Joshi, Senior Divisional Manager, said that Nagpur Division includes Nagpur, Gondia, Chandrapur, Gadchiroli, Bhandara and Wardha and has 15,000 agents.
LIC Nagpur Division has settled 4,49,902 claims amounting to Rs 1,517.53 crore. More than 90 per cent of the claims have been credited into the policy holders accounts through National Electronic Funds Transfer (NEFT) payment system, he noted.

LIC Nagpur Division has set a target to garner 4.03 lakh new policies and first premium of Rs 648 crore for the financial year 2018-19. M C Joshi said, “We will be focusing our energy on recruiting new agents to the profession. Becoming an LIC agent is one of the best professions and we want the new generation to join in large numbers and earn a life of dignity”. Furthermore, all out efforts will be made for revival of lapsed policies so that policy holders can start get risk cover at low premium. Jeevan Akshay plan of LIC is one of the most sought after plans. In all LIC has 30 plans to choose from. The policies satisfy different needs of people. Various categories include endowment, term assurance, children, pension, micro insurance, health insurance and market linked products etc.

Mahendra Mendhe, Manager Sales, Rajesh Sukhdeve, Marketing Manager, and Ajay Joshi, Marketing Manager were also present.