PANAJI
The largest insurance company of India, Life Insurance Corporation (LIC), has achieved 130% of its Goa target in 2016-17, as it collected Rs 188 crore premium on new policies sold during the year.
This information was shared by Barun Kumar Khan, senior divisional manager for Goa, LIC.
Khan was speaking to media persons on the sidelines of LIC's 61st anniversary celebrations, which will be celebrated as an insurance week from September 1 to September 7.
Khan further said that LIC sold 73,000 new policies in Goa in 2016-17. In fact, collection of Rs 188 crore premium is on these 73,000 new policies sold during the year. Overall, Khan informed that LIC is servicing 11,55,000 policies in Goa as on March 31, 2017."
The fact that LIC has sold 11.55 lakhs insurance policies in Goa, which has around 15 lakhs population, shows that the penetration of insurance in the state is much higher than in other states of India.
This is also because Goa's per capita income is one of the highest among all states of India. In the current financial year 2017-18,
LIC has already sold 25,000 new policies and collected Rs 80 crore of new premium on the same.
Stressing that LIC is helping people in getting pension through its policies, Khan said, "In 2016-17, we collected more than Rs 100 crore premium in Goa from our Jeevan Akshay policy, which is a pension product."
