LIC proposes to start 25 satellite branches - Panwar

Panaji, Sep 1 (UNI) Life Insurance Corporation of India (LIC) proposed to start 25 satellite Sampark branches spread across the metros including one in Goa this year.

The LIC Sr Divisional Manager Priti Panwar, who was interacting with the media persons on the occasion of LIC's 50th Golden Jubilee year today said, ''This year we will be focusing to reach to more customers to become customer friendly. Various other activites have also been planned by the corporation.'' Highlighting the performance of LIC, Goa Division, Ms Panwar said, ''The company is catering to the needs of policy holders all over Goa servicing 7,25,591 policies.'' Based on new business as on August 14, Goa division has completed 21,061 policies with a premium of Rs 35.12 crore and is ranking No 2 in the zone on growth of policies with a growth rate of 29.77 per cent.

She said, it also excelled in the claims performance as on March 31, this year by paying 45,994 maturity and survival benefit claims amounting to Rs 99.25 crore. In death claims, 1,741 cases were settled amounting to Rs 12.34 crore.

The total premium income of Goa division for the year 2005-06 was Rs 123.22 crore as against the previous year, Rs 93.30 crore showing a growth rate of 32.07 per cent. Under the Green Channel 10,459 policies were completed on the spot for better servicing of the policyholders, Ms Panwar added.

She said in administrative working of Goa division, it ranks No 1, on all India basis with excellent rating in audit and inspection. Under Group Insusrance Portfolio, we have signed an MoU with Goa government, department of social welfare on July 31st 2006 for the scheme' 'Sahara'. The scheme is social security scheme based on benefits of LIC's 'Janashree Bima Yojana' and 'Shiksha Sahayog Yojana.' The risk cover benefit of both have been raised, Ms Panwar added.

UNI SRN MJ SBA KN1945