LIC policies: Vizag division tops South Central Zone

Visakhapatnam: Visakhapatnam Division of LIC is standing first in volume of policies completed in the South Central Zone (SCZ) comprising Andhra Pradesh, Telangana and Karnataka so far for 2017-18, said LIC senior divisional manager
P Ramesh Babu here on Thursday.

“Our division has accrued 115 crore of first premium so far as against the target of Rs 384 crore. Number of policies completed so far is 84,000 as against a target of 2,90,000 policies for the year, according to the senior divisional manager.
When it comes to settlements of claims, the division has settled 52,500 claims by direct benefit transfer, which comes around 85 per cent of the total claims settlement, he said. In the zone, the division stands first in sale of a special product Bima Diamond, which was launched by LIC last year, on the occasion of Diamond Jubilee celebrations.

“As part of CSR activities, 20 schools were adopted across the division and provided amenities worth Rs 25,000 per school. A village Lingalavalasa of Julumuru mandal was adopted. Also, the division conducted 25 medical camps during this year,” he pointed out. LIC is celebrating its 61st anniversary from September 1 to 7, he said .

The first day of the Insurance Week will be observed as the LIC Day to mark the formation of Life Insurance Corporation of India.