HYDERABAD: Despite the Covid-19 crisis, the Life Insurance Corporation (LIC) of India has been doing well in the current financial year. In the last two quarters of the financial year 2020-21, LIC has garnered more than Rs 25,000 crore as first-year premium income in Individual New Business performance as on September 30, 2020, as compared to Rs 24,867.70 crore as on September 30, 2019.
Under its Jeevan Shanti plan, LIC collected Rs 11,456 crore as first-year premium, and Rs 62,112 crore through LIC Pension and Group Schemes vertical. The corporation has also declared a bonus of more than Rs 51,000 crore for its policy holders. It has already booked more than Rs 15,000 crore as profits in the capital market this FY so far, as per its press release on Friday.
Better awareness
Due to better awareness, LIC policy surrenders have reduced drastically