People still do not consider insurance as a need: D C Thakur

Ludhiana, March 13, 2016: Mr D C Thakur, Senior Divisional Manager, LIC of India, Ludhiana has said insurance is the basic need of the person, but in our country, people still do not consider insurance as a need. LIC being the most trusted brand and a market leader in life insurance is all set to reach the masses through any of the mediums that allow showing our presence and making people feel LIC as a part of their life.
In a statement here today, he added through social events we make their presence felt and to make the people understand that “we are here for you”.
He said likewise, by putting stalls in kisan melas, or road shows in rural areas, publicity through rural sports tournaments, their mobile vans that keeps moving around, the CII Trade Fair that was held recently in Ludhiana and now the Jalsa. The purpose of all such activities is make people know the brand LIC and treat us as a part of their life.
He was present today at the press conference held in connection with `Idea Jalsa- Music for the Soul’ here. Further, he told that as on January 31, 2016, LIC is leading the Indian insurance market having a share of LIC is 69.65 per cent in premium and 75.92 per cent in policies. It is just because of the trust, people bear in them, LIC is the largest Insurer in the world in terms of number of policyholders they serve and number of claims they settle.
He said LIC is also known for bringing out most innovative products, the latest one being Jeevan Shikhar- a closed ended single premium plan offering high risk cover and guaranteed returns.
Mr Thakur said apart from conventional LIC insurance, LIC is doing very well in group insurance schemes, health insurance and micro insurance, the low premium insurance for weaker sections of the society. A number of social security schemes are being run like aam admi bima yojna (AABY), pradhan mantra jeevan jyoti bima yojna (PMJJBY) with the support of GoI.
He revealed that with the basic objective of “people’s money for people’s welfare”, as on March 31, 2015, total funds of Rs.19,46,249 crores for the benefit of the community such as housing, power, irrigation and water supply and other infrastructural projects.
As a part of corporate social responsibility (CSR), they are running Golden jubilee Foundation, which is working for the under-privileged segments of the society apart from Golden Jubilee Scholarship Scheme for poor students.