A LIFE insurance company celebrated its 60th Foundation Day Anniversary at the Grand Pacific Hotel in Suva last night.
On the 60th birthday of Life Insurance Corporation of India, it dedicates its success to its policyholders, for the trust reposed in them, for the confidence that LICI will be able to protect the flame of security to glow even brighter. Among guests were some retired officers who laid the strong foundation of LICI, some senior policyholders and employees were honoured and sales teams doing good performance were felicitated too.
LICI offers a wide variety of products, which fulfil the needs of different segments of society. The company has 14 products on sale that meet the needs of their customers.
LICI general manager Sanjay Kumar said most popular products were Money Back Policies and New Bula Gold which has a free insurance cover for an extended term beyond the date of maturity.
He said the Target Classic plan was a popular tool for retirement planning.
“It is servicing over 60,000 policies as on date. Every calendar year it completes around 10,000 new policies and this year around 7000 new policies have already been completed. It has an asset base of over $560 million and has contributed handsomely in the development of the Fijian economy with an investment of over approximately $500m, mostly in the infrastructure sector of the economy, so far.”
