Started in 1956, LIC completes 63 years

Tribune News Service

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Ludhiana, September 5

The Life Insurance Corporation of India (LIC) has completed 63 years of its incorporation. The LIC has played a significant role in spreading life insurance among the masses and mobilisation of people’s money for their own welfare.

This was stated by LIC marketing manager Dawa Ram. “With an initial capital of Rs 5 crore in 1956, today LIC has assets of over Rs 31 lakh crore and with life fund more than Rs 28 lakh crore,” he said. “During 2018-19, the LIC market share of new policies issued was more than 74.71 per cent,” he added.

“Being the largest insurer in India, the LIC has explored all the avenues that technology offers to provide the best of services to its valued customers and other stakeholders,” he said. “Information technology initiatives have facilitated SMS based helpline services, online payment of premiums through wallets and SMS alerts on transactions. Customers are able to make use of e-services for many transactions,” he added.

“The Ludhiana division of the LIC comprises Samrala, Khanna, Jagraon, Bathinda, Mansa, Rampura Phool and Ludhiana city, , which has performed well during the last fiscal” he said.