Life Insurance Corporation of India (LIC), Coimbatore Division, has 49,470 new policies registered so far this financial year as against a target of 1,92,000 policies for the entire year.

According to a press release from LIC, for the year 2019-20, as against a new business budget of 1,92,000 policies for the first-year premium income of ₹549 crore, achievement so far is 49,470 policies with ₹230.22 crore first-year premium income.

The Division has 26 branches, 20 satellite offices, and 22 mini offices in Coimbatore, Tiruppur, Erode and the Nilgiris districts. And it has 1,235 employees and 11,855 agents in the Division. In 2018-19, the Coimbatore Division completed 1,62,076 policies for a first-year premium income of ₹386.42 crore and settled 2,00,686 claims, paying ₹1,152.67 crore as claim amount. Starting September 1, the LIC is celebrating Insurance Week across the country. In Coimbatore Division, events are conducted at all the LIC offices to create awareness on insurance. Corporate Social Responsibility programmes will also be taken up.