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Our Bureau

Kochi, Dec. 14 LIC Ernakulam division has set a target of achieving Rs1,500 crore in the first premium collections during the current financial year.

Addressing a press meet, Mr J. Anilkumar, Senior Divisional Manager said that the division has already achieved a first premium collection of Rs803 crore as on today and has continued to retain the No:1 spot in new businesses among the 105 divisions in the country.

The division has sold 3,67,239 policies during the current year. It had already crossed 80.90 per cent of its targeted budget of Rs 955 crore in the first premium during the current fiscal, he added.

The major share of the first premium collection been generated from ULIP policies as the division could sell 2,56,267 unit linked policies for a total premium collection of Rs 765.53 crore.

The lion’s share of the premium has come from Market Plus and the division could collect Rs 593.56 crore of first premium through this policy, he added.

He said that the division will hand over a cheque of Rs 2 lakh to the authorities of Government UP School, Bheemanad in Palakkad district, on Saturday for the construction of a library room. The fund has been sanctioned as part of the LIC Golden Jubilee Foundation and it is the first project in Kerala to be funded for infrastructure development from the Golden Jubilee Foundation.

The Golden Jubilee Foundation was established in February and its objective is to provide advancement of education; relief of poverty or distress, medical relief, advancement of any object of general public utility.

More Stories on : Life Insurance | Kerala

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