Excelsior Correspondent
SRINAGAR, Aug 22: Life Insurance Corporation (LIC) of India, adding one more feather to its kitty, launched a new product “Jeevan Rakshak” here today.
Addressing the media, Senior Divisional Manager, Mr. D. C. Thakur highlighted the features of the new product, saying that the new Product includes the minimum sum assured of Rs. 75000 with a maximum limit of Rs. 2 lakh in addition to the loyalty additions and non-medical requirements.
Giving brief account about the performance of Srinagar Division, which covers the entire J&K State, has completed more than 31000 policies by procuring Rs. 60 crore of fresh premium in the current fiscal, in addition to Rs. 41 crore in pension and group schemes. It was also able to complete 1.84 lakh policies while underwriting more than Rs. 226 crore in addition to Rs. 174 crore in pension and group schemes during the last financial year, he said and added that the division has also settled 35460 claims amounting to Rs. 132.74 crore by the mid of current month.
The organization is also playing a key role in employment generation. It recruits City Career Agents and Rural Career Agents and provides stipend of Rs.3000 and Rs. 1500 per month respectively besides convenience and performance related incentives.
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