Jeevan Shagun is the new plan launched by the Life Insurance Corporation of India (LIC) that is being rolled out across the country, in Goa. Glancing at the stats of 2013-14, LIC accounts with more than Rs 90,000 crore i.e. 75.33% in first year premium income and 84.44 % market share in the number of policies.
S.P.S Vilkhoo, Senior Divisional Manager at LIC, during the launch informed the pressperson that LIC has around 5000 offices across the country. He also added that LIC has 14 products in its bag. Talking about the claims, he informed that the claim settlement ratio of LIC is 99.68 per cent for the year 2013-14. Amounting to the price of Rs 91,186.45 crore, LIC has settled 2.59 crore claims.
Mr. Vilkhoo said that by tying up with the Government’s National e-Governance Plan, LIC has brought comfort to its customer by providing premium payment facility at more than 1,30,000 Common Service Centres (CSCs) spread across the nation.