Excelsior Correspondent
JAMMU, Aug 19: Recording an impressive growth of 38.10 % in the Jammu and Kashmir State, the Life Insurance Corporation (LIC) of India has launched its new product `Jeevan Rakshak’ for the public.
Launching the new product in presence of senior functionaries of the LIC including, Manager Marketing – Ashok Thakur, Manager Sales- J L Sharma and Manager (E&OS) -Nidhey Gupta, the Senior Divisional Manager (Sgr Div) of LIC and in-charge J&K State, D C Thakur disclosed that the new product would serve the basic objective of the Corporation which is, the “use of public money for the welfare of the public.”
Highlighting the main features of the new `Jeevan Rakshak’ product, Mr Thakur said the minimum sum assured under this policy is Rs 75,000 and maximum limit is up to Rs 2 lakh. As compared to other products launched on earlier occasions in last few years, this is the best one, he maintained.
He further disclosed that minimum age limit for the new policy is 8 years and maximum of 55 years while maximum maturity limit is 70 years. There is no Medical requirement for the product and double risk cover is there in case of an accidental death of the policy holder. The policy term is between 10 to 20 years.
Referring to the need of penetration of the insurance among common masses, Mr Thakur said, “A policy in each pocket by 2020 is the vision of LIC.”
While in the first quarter of this financial year, the Srinagar Division has recorded 38.10 % of the growth in business, it settled 1,26,770 claims amounting to Rs 517.23 crore during last year. This year up to August 15, the Division has settled 35,460 cases worth Rs 132.74 crore. He also cautioned the public to remain alert and not to fall prey to the fake calls on their mobile/ land line phones regarding LIC inquiry Cell, Vigilance Cell, IRDA Deptt, settlement of bonus, winning reward etc. He said such cases should be taken up immediately with Cyber Crime Cell of Police department.
Mr Thakur appealed the policy holders for registration of their e-mail IDs and Mobile phone numbers and registration of customer portal in LIC’s website for getting on line and prompt service/ Mobile SMS alert from the Corporation regarding their policies and current status.
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