LIC covers 158 villages

The Dharwad division of Life Insurance Corporation of India (LIC) has covered 158 villages in the last three years under Bima Gram yojana and mobilised Rs 39.50 lakh as premium amount. It has stood first in the zone by covering 54 villages in the year 2004-2005.

On the occasion of LIC's golden jubilee year senior divisional manager C Narasavadhani told reporters here Dharwad division covering Dharwad, Gadag, Haveri and Uttara Kannada district had catered to 14.56 lakh policies.

He said it had mobilised Rs 62.58 crore as first premium in 2004-2005 selling 1.78 lakh policies. During the same period the division has settled 63904 claims for an amount of Rs 116.02 crore taking the settlement percentage to 99.81 of the death claims intimated.

He said the Bima Gram Yojana introduced in 2002-2003 had been a hit with the rural population in the division.

The scheme provides for insurance coverage of the villages with the population less than 5,000. The villages fulfiling the conditions of eligibility for the scheme would get Rs 25,000 as an incentive for village development every year.

All the 15 branches in the division have been fully computerised and connected through MAN/WAN facilities. The facility enables payment of premium through any of the branches, Internet, ECs, ATMs of the Corporation and UTI Banks.

The Bima School scheme to encourage saving habit among children and encourage the parents to plan for the future of children has received good response.