LIC Jamshedpur settled claims worth Rs 1490 cr in FY 2018-19

63rd Insurance Week celebration begins at Bistupur

Jamshedpur, Sept 1: Along with the rest of the country, National insurer Life Insurance Corporation (LIC) of India, Jamshedpur Division is celebrating 63rd Insurance Week which began at Jeevan Prakash Building in Bistupur on Sunday, September 1. Chief Guest for the occasion was Padma Shri environmental activist Jamuna Tudu. Senior divisional manager Md Mobinuddin Ansari inaugurated the celebration.

Jamuna Tudu said, “There is a lot of similarity in objective of forest conservation and LIC. Through forest we aim to safeguard the future of mother Earth while LIC secures the future of citizens”.

Addressing the gathering, Ansari said, “LIC has completed 62 years of its incorporation today. Having begun its journey on September 1, 1956, with an initial capital of Rs 5 crore and an asset base of Rs 352.20 crore, LIC today has assets of over Rs 28.45 trillion with life fund to the tune of Rs 25.84 trillion. From 168 offices in 1956, it today has over 4,826 offices, 1.11 lakh employees, 11.48 lakh agents and 29 crore plus policies in force”.

Later, during the press conference, Md Mobinuddin Ansari talking about the business figure of Jamshedpur division said, “During the financial year 2018-19 total new policy done was 1,98,000 while the total new premium income stood at 427 crore. Total premium income garnered during the period was Rs 1655.17 crore while the insurer settled claims amounting to Rs 1489.46 crore”.

Replying to a query, LIC official informed that in the financial year 2019-20 upto 31st August 2019 the Jamshedpur Division of LIC procured 61725 policies with 162.70 crores first premium income. The division has planned to procure 2.35 lakh policies during the year. Maturity paid during the period amounts to Rs 286.42 crore while total death claims settled at Rs 41.99 crore.

He further said that Jamshedpur Division was among the 25 divisions who have shown positive growth on all parameters. He said series of events will be held from September 1-7.

Sit and draw competition was held on day one at the divisional office where 250 students from across Jamshedpur schools participated.

Mega rally will be taken out from the divisional office on September 2.

Rural health camp will be organised at Narayanpur village on September 3.

On September 3, extempore contest will be held at divisional office. Health camp for retired employees is planned on September 4 followed by Customer meet on September 5. Plantation and quiz contest for employees will be held on September 6 while closing ceremony will be conducted on September 7.