Life Insurance Corporation of India (LIC), Bhubaneswar divisional office has settled 90,871 claims during the 2011-12 fiscal amounting over Rs 216.75 crore.
The total claims settled in last fiscal included, 88,136 maturity claims amounting to Rs 193 crore and 2,735 death claims for Rs 23.75 crores.
About 99.29 per cent of total maturity claims were settled on or before the date of maturity while 99.47 per cent of non-early death claims were settled within 15 days of intimation. “In settling total maturity claims and non early death claims, the divisional office stood first in the country and second among all zones,” B Majhi, Senior Divisional Manager, Bhubaneswar Divisional Office told media persons at apress conference on the occasion of LIC’s 56th anniversary here.
Our outstanding claims – both maturity and survival benefit – ratio is 0.00 per cent (51 cases were outstanding). Similarly, our outstanding death claims stands at 0.29 per cent, he added.