Life Insurance Corporation of India (LIC), Visakhapatnam, is expecting to close the current fiscal with over 40 per cent growth in new premium collection, as compared with the last fiscal. The division comprising three coastal districts collected a premium income of Rs 340 crore in 2007-08.
This fiscal it has set a target of Rs 490 crore and has so far collected only Rs 240 crore premium. “Though we are short of Rs 250 crore to reach our target, we are confident to collect the amount in the coming 45 days on the back of our new policy — LIC Jeevan Varsha,” N Prabhakara Rao, Vizag senior divisional manager, LIC, told mediapersons here.
This new policy closes March 31.
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