Social ventures mark 59th LIC Foundation Day celebrations

Life Insurance Corporation (LIC) is celebrating insurance week-long celebrations marking the 59th Foundation Day of the corporation, on Tuesday. As the part of the celebrations, the Rajahmundry division is conducting health camps, Swatch Bharath and competitions in several aspects.

Senior Divisional Manager, Rajahmundry division, J Ranga Rao said that the division stands third in the country and first in South India with a growth rate of 64 per cent. He explained that services are being provided to police holders from 12 branches in East Godavari, eight branches in West Godavari district and from four satellite branches.

Further, the Rajahmundry division has collected a premium of Rs 182 crore and 1.53 lakh policies in 2014-15 against the target that was fixed for Rs 215 crore with 3.25 lakh policies.

As far as the disposal of claims, he said that Rs 367 crore has been paid on 1.47 lakh matured claims and Rs 84.36 crore has been paid on 8004 death claims of policy holders. He informed that Rajahmundry division has adopted 40 villages and would adopt another 60 villages by the end of September and would help these villages economically.