Money & Banking

LIC observing Oct as social security month

Our Bureau Hyderabad | Updated on October 01, 2014 Published on October 01, 2014

Life Insurance Corporation of India is observing October as social security month.

"The total number of lives covered under our social security schemes up to the last financial year were over five crore,’’ K Ganesh, Zonal Manager, South Central Zone, LIC, told newspersons here on Thursday. Out of this, new lives covered were 1.18 crore, he added.

LIC had paid about Rs 440 crore by way of claims to the 1.38 lakh families below or marginally above poverty line during the last financial year.

"At present, a major scheme sponsored by Government of India and administered by LIC for the benefit of weaker sections is Aam Admi Yojana which has an add-on benefit of Shiksha Sahayog Yojana free of cost,’’ he said.

In Andhra Pradesh, Telangana and Karnataka which comes under the South Central Zone of the corporation, 1.80 crore lives were covered under the scheme during the last financial year. During April – Sept 2014, 27 lakh lives were covered.

Published on October 01, 2014
This article is closed for comments.
Please Email the Editor