The importance of savings and having an insurance policy was emphasised by the Life Insurance Corporation of India (LICI) general manager during a function in Sigatoka.
The LICI held a customers’ meet and greet in Sigatoka last week where the LICI general manager Pradeep Shenoy told more than 130 LICI customers present at the event that the insurance company held 62 per cent share of the life insurance market in terms of policies.
Mr Shenoy shared the initiative undertaken by the LICI to improve customer services.
According to Mr Shenoy the LICI paid about 8000 claims of various types in financial year 2022 amounting to more than $46 million.
He said more than 13,000 customers availed the facility of loan under their policies in 2022 and the amount of loan given was $37m.
“LICI invested $90m in Fiji Infrastructure Bonds in 2022 taking the cumulative investments of LICI in FIBs to over $800m.”
He said the returns given by LICI policies were much more than other investment options such as bank deposits.
The LICI agents from Sigatoka including Tarsen Singh did the ground work for the meeting.
The regional manager (West) of LICI Mahendra Bhadu also addressed the customers.
He shared the various efforts being made by LICI to reach out to the members of the public and create awareness about investment and insurance.
He spoke about the road shows and service camps conducted by LICI in the last few months.
He also thanked the customers for attending the meet in such large numbers and truly making it a grand success.
