The Hindu Business Line : LIC Udupi division targets 5 lakh policies

Mangalore, July 21 The Udupi Division of Life Insurance Corporation (LIC) of India, which covered three lakh policies during 2007-08, has set a target of covering five lakh policies during the current fiscal.

Addressing presspersons here on Monday, Ms Uma Rao, Senior Divisional Manager of LIC, said that the division with jurisdiction over Dakshina Kannada, Udupi and Chikmagalur districts covered three lakh policies during 2007-08, collecting a premium of Rs 313 crore. The claim amount settled during the fiscal was to the tune of Rs 171.53 crore.

She said that Udupi Division has plans to cover over five lakh people through conventional, micro and group insurance schemes during the current financial year.

satellite office

With an aim of providing easy access to policyholders, LIC has launched a satellite office at Kankanady in Mangalore. Two more satellite offices will be opened shortly at Byndoor in Udupi district and Sullia in Dakshina Kannada district.

Processing of new proposals and collection of renewal premium are the main functions of these offices, she said.

To help policyholders avoid the inconvenience of paying premium in LIC offices, the Corporation has provided alternative payment channels. Now, policyholders can also pay the premium through SMS, she added.

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