Berhampur LIC leads in micro policies in the Eastern Zone

Berhampur division of Life Insurance Corporation (LIC) has become leader in the growth rate of micro-insurance policies in the eastern zone. Speaking to newsmen during a press conference, organized to commemorate insurance week, senior divisional manager of the LIC, Ramesh Ch. Khora said micro-insurance policies were best ways to reach out to south Odisha, still out of reach of any insurance cover. He reiterated that the LIC had targeted to get all insurable persons under insurance cover by the end of 2020.

During the year 2012-13, the target of this LIC division was for 18,000 micro-insurance policies. But this target was exceeded. During current financial year the target for micro-insurance for this division was 20,000. “Till now we have achieved around 5000 micro-insurance policies and we are hopeful that the target would surely be reached,” said Mr Khora.

It was also claimed that at present Berhampur division of the LIC was making 90 per cent of its policy settlement payments through National Electronic Funds Transfer (NEFT). Under this scheme the settlement payments were being directly transferred to the bank accounts of policy holders or their nominees. Officials of the LIC felt they would be able to have 100 per cent settlement payments through NEFT. According to Mr Khora, as part of social responsibility, Berhampur division of the LIC was planning to provide modern ophthalmic care to people living in rural areas. This project is worth around Rs 22 lakhs. Authorities of the Berhampur division of the LIC have sent this proposal to their headquarters for approval.

This project would involve a mobile unit capable of advanced eye checkups. If approved this proposed project would be taken up in collaboration with an eye hospital of the city. During last financial year 131 crore rupees had been collected from this division towards the premium of 2,53,992 new policies. As per performance and growth Berhampur division of the LIC was placed in 16{+t}{+h}position among 113 divisions of the corporation in the country.  Source: The Hindu