LIC infusing confidence among people

Rajamahendravaram: Life Insurance Corporation of India (LIC) senior divisional manager TK Patnaik said that LIC is infusing confidence among the people in the country with its reliable and quality insurance related activities.

Speaking to the media at his office here on Friday, he said that LIC, which came into existence in the 1956 with a capital amount of Rs 5 crore, now flourshing with Rs 28 lakh crore worth of assets in the country, along with Rs 25.84 lakh crores of life fund. LIC is serving the policy holders with its 1.12 lakh employees and 11.48 agents across the country.

In 2017-2018, LIC has paid an amount of Rs 1,11,860 crore relating to 2.66 lakh matured claims. LIC is availing latest technology and giving quick service to its policy holders in the country.

In Rajamahendravaram division, last year an amount of Rs 488 crore was paid to 65,084 matured policy holders, an amount of Rs 111.23 crore disbursed relating to 9,304 death claims.

An amount of Rs 38 lakh was given as scholarships to 150 students as a part of Corporate Social Responsibility, he said. Marketing manager GVV Ramaiah, sales manager MV Ramana, managers A Seshaiah, KS Kesava Rao and others were present.