LIC to open 85 satellite offices in north India

In order to strengthen their presence, LIC (Life Insurance Corporation) of India would open 85 satellite sampark offices in the northern region comprising Rajasthan, Punjab, Haryana, Chandigarh, Himachal Pradesh and Jammu & Kashmir by March 2008.

At present, it has 15 satellite offices in the region, and it is planning to add 10 more offices by March.

These offices would connected on Wide Area Network (WAN) and a policy holder can pay renewal premiums pertaining to any of the branches of the corporation in these officers.

Besides selling new policies, these offices will also be equipped to provide latest information on various initiatives taken by the corporation in the areas like new insurance products and policy holders servicing areas such as alternate channels of premium payment, knowing status of one's policies, Net Asset Value (NAV) of ULIP plans and quotations for loan, surrender and revival of various policies.

Speaking to Business Standard, Zonal Manager Ashok Shah said, "In order to strengthen our presence in the northern region, we would add another 85 offices in the region, taking the tally to 100 by March 2008.

Shah said, "The northern region has done extremely well. During the period, April 1, 2006 - February 15, 2007, the northern zone had sold 30,29,311 polices. So far first premium income is concerned, it has collected Rs 6,235 crore, witnessing a growth of 156.78 per cent.