Coimbatore division of LIC to sell 6 lakh policies in 2008-09

COIMBATORE: The Coimbatore division of Life Insurance Corporation of India has set itself a target of selling six lakh policies in 2008/09, R Palaniswamy, Senior Divisonal Manager, LIC, Coimbatore, said today.

Speaking to reporters here, he said the Corporation also proposed to mobilise Rs 1,000 crore by way of first premium collection during the same year.

Though the corporation ahs already opened five branch offices for the convenience of policy holders for remittance of their premium amounts. To service their policies, it has decided to open nine more branches soon, he said.

The Coimbatore division has secured sixth place among all divisions of the corporation in the country by selling 4.75 lakh policies and collecting Rs 722 crore by way of first premium income during 2007/08, he added.

Claims in respect of 1,07,950 policies involving payment of Rs 722 crore have been settled during the year under review

The corporation has sold 113000 policies and collected Rs 118 crore as first premium income during the current fiscal.

Steps are being initiated for the recruitment of 6000 agents before the end of 31 March 2009, he said.

The LIC proposed to cover 30 villages under the BIMA village scheme and provide them Rs 25,000 each for taking up development work and also to launch 100 BIMA school to create awareness about insurance among school going children, he said.