LIC Visakha division tops South Central Zone

Visakhapatnam: Life Insurance Corporation of India, Visakhapatnam division, spread over Visakhapatnam, Viziangaram and Srikakulam
districts topped the South Central Zone comprising Andhra Pradesh, Telangana and Karnakata States by selling 2.7 lakh policies in 2015
-16 fiscal.

Talking to The Hans India on Wednesday, senior divisional manager K Murlidar informed that the division also occupied 11th All India
position by collecting first premium income (from new policies) of Rs 254 crore. He informed that as on date, the division is serving 32.5
lakh policies through 20 branches and 11 satellite offices.

Of the 20 branches in the division, Palasa Kasibugga branch topped the zone by selling 23,000 policies followed by Parvathipuram
branch with 22,600 policies and the remaining branches also fared well by procuring more than 10,000 policies each. About the Central
government’s Varishta Pension Bima Yojana, he said that the division has sold 1,208 policies by collecting a premium of Rs 38 crore and
thus achieved the target. In the sale of major plans like New Jeevan Anand, New Endowment, Jeevan Rakshak, the division has occupied
first position in the zone.

Referring to the agency set up, the senior divisional manager said they have an agent force of 11,200 as on date, including the newly
added force of 3,700 persons and as many as 27 agents, have qualified to attend the Million Dollar Round Table (MDRT) meet. Star agent
V Venkateswara Rao of city branch-3 has bagged the All India No-1 position by collecting first premium of Rs 18.83 crore for the fourth
consecutive term, the jubilant divisional manager informed.

When asked about the settlement of claims, he said the division has settled 1.7 lakh maturity claims by paying Rs 532 crore to the policy
holders and 13,164 death claims by disbursing Rs 123 crore to the nominees. About their Corporate Social Responsibility initiatives,
Murlidar said that the Golden Jubilee Foundation set up by the LIC provides scholarships every year to the children of economically
weaker sections to pursue higher education by paying Rs 10,000 per annum. As part of it, the Visakha Division has provided scholarships
to 70 candidates of whom most of the candidates are pursuing engineering, medicine and science courses, he added.