Mysore Division to recruit 5,000 Agents in the current fiscal

Mysuru: Life Insurance Corporation (LIC) of India, which came into existence on Sept. 1, 1956 by an Act of Parliament, is celebrating its 61st anniversary. To commemorate the occasion, first week of September is being celebrated as Insurance Week throughout the country.

The Insurance Week was inaugurated at LIC’s Divisional Office premises in Bannimantap here on Sept.1 by hoisting the Corporate Flag.

R. Rajasree, Marketing Manager, LIC – Mysore Division, welcomed.  K. Ananth Padmanabha, Senior Divisional Manager, LIC – Mysore Division, gave a bird’s-eye view of the performance of the Corporation in general and Mysore Division in particular.

He said that Mysore Division’s achievement to Budget on Single Premium count was 168%, on Total Premium count was Rs. 242 crore against a budget of Rs. 206 crore. Out of 22 branches operating in the Division, 21 branches crossed the budget on Single Premium count and 17 branches crossed their target on Total premium Count.

Expressing happiness that 18 Agents have qualified for Million Dollar Round Table Conference (MDRT) to be held in United States of America, he said 250 Agents have insured more than 100 lives while 17 agents have brought in more than one crore premium income.

Stating that Mysore Division has embarked upon a campaign to recruit 5,000 Agents in the current fiscal, he called upon the unemployed and underemployed youths to utilise the opportunity and brighten their career.

Pension and Group Scheme (P&GS) unit which caters to the needs of employers for providing Pension and Superannuation benefits to their employees achieved Budget on all the five counts in the last fiscal. Mysore P&GS unit covered 1,69,651 lives under 406 schemes with a premium Income of Rs. 130.46 crore. Under Aam Admi Bima Yojana, Mysore Division covered 1,32,408 lives, he said.

Continuing, he said in the settlement of Claims to its Policy Holders, LIC’s performance is unparalleled in the world. LIC has settled 99.75% of the claims received. Mysore Division settled an amount of Rs.653.09 crore on 1,48,923 policies towards Maturity Claim and settled 9,075 Death Claims worth Rs.91.85 crore.

To cater to the needs of Below Poverty Line populace, LIC has embarked on a noble mission called ‘Micro Insurance’ wherein it gives insurance protection to the economically weaker section at a very low premium. Mysore Division covered 5,404 lives in the last fiscal and settled death claim of Rs.40,49,744 on 183 lives and maturity claim of Rs. 60, 92,114 on 866 lives, he said.

Several activities were carried out in the forgone Diamond Jubilee Year wherein School bus worth Rs. 17,52,248 was donated to a school run by Swami Vivekananda Youth Movement (SVYM) in Sargur, HD Kote; Mini Water Tank was installed at Govindanahalli in KR Pet; Basic amenities like water tank, solar lights, sanitation facilities etc. were provided to 16 Bima-Grams in the Division.

Apart from this, 1,100 trophies were given to meritorious students belonging to 220 schools while furniture worth Rs. 25,000 was donated to 22 schools in the Division.

A.N. Veeraraje Urs, senior most employee, administered Corporate pledge to the gathering. Hari Elangovan, Manager (Personal and Industrial Relations), proposed a vote of thanks. S.N. Lalitha compered.