LIC CELEBRATES INSURANCE WEEK, COMPLETES 58 YEARS

29/08/2014 …. LIC is completing 58 years of  its service to the nation on 1st Sept. 2014.  LIC’s  Goa Divisional Office with its 11 Branches, 3 satellite offices, 3 Mini  Offices, Pension and Group Scheme unit and Customer Zone in the state of  Goa, will be  celebrating the 58th   Anniversary Insurance week from 1.9.2014 to 7.9.2014.

On 1st of September 1956, The Life Insurance Corporation of India ( LIC ) embarked upon its momentous journey in true spirit of serving the people and nation as a whole. Since then, it has spearheaded the financial and infrastructure development of the nation. The performance of LIC has been exemplary and it has been growing from strength to strength, be it customer base, agency network, branch office network, and the like. LIC has played a significant role in spreading life insurance among the masses and mobilization of people’s money for people’s welfare. Even after the entry of private insurers for more than a decade now, LIC continues to be the frontrunner in the industry in terms of the market share.

LIC had recently launched a new product viz., “Jeevan Rakshak” on 19th August 2014. This is a Non-linked, With Profits, Endowment Assurance plan which can be availed by the general public between the age group of 8 to 55 yrs. The plan is available for a term of 10 to 20 years.

On the launch day of the “Jeevan Rakshak” plan, Goa Division completed 868 Policies with 3 of its branches, viz., Bicholim, Panaji I & Panaji II completing more than 100 policies on a single day. With this performance Goa Division of LIC was ranked 2nd in the Western Zone comprising the States of Maharashtra, Gujarat & Goa.

Further, the Hon’ble Finance Minister of Government of India, in his budget speech 2014-15 had announced the revival of “Varishtha Pension Bima Yojana” for citizens aged 60 years and above. In view of the same, LIC has re-launched “Varishtha Pension Bima Yojana” from 14th August 2014. The plan is  available for sale to General Public from 16th August 2014 to 14th August 2015. This is a Government subsidized scheme which shall provide an assured return of 9% p.a. payable monthly.

In the last financial year ending 31st March 2014, LIC as a whole insured 3.44 Crores of new Policies and settled Rs.91,186 Crores  as Claims to Claimants under 2.59 Crores policies.  LIC Goa Division completed 112866 Policies during the financial year 2013-14 & settled Rs. 391.49 Crores as Claims to the Policyholders. True to the spirit of nationalization, the Corporation has deployed its funds to the best advantage of LIC policyholders as well as for the community as a whole. National priorities and the obligation of reasonable returns to the policy holders are the main criteria of our investments.

 As part of the Insurance week celebrations, the inaugural ceremony will be held at LIC’s Divisional office premises, Jeevan Vishwas,  Patto, Panaji  on 1st September, 2014.    Many activities   such as saplings plantations at the hands of dignitaries, Health camp for children, Health cum Yoga talk  for the staff, Competitions for Agents, Drawing competitions for School Children, Quiz competitions for employees  etc  are fixed during the week.

     Special service Desks  will be opened in the branch offices to serve the customers , special drives for creating awareness of Insurance in rural areas will also be conducted, Customer Meets will also be held  during the week in our  offices.

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