New Delhi, March 28 (IANS/WISHAVWARTA) Life Insurance Corporation of India (LIC) on Friday announced that its offices across various zones and divisions will remain open on March 29, 30, and 31. The decision aims to ensure smooth operations and avoid inconvenience to policyholders. LIC’s move follows an advisory issued by the Insurance Regulatory and Development Authority of India (IRDAI) on March 12. “The Offices of LIC of India under jurisdiction of Zones and Divisions will be kept open for normal operations as per official working hours on 29.03.2025, 30.03.2025, and 31.03.2025 in order to avoid any hardship to the policyholders,” said the company. LIC has been emphasising its commitment to extending financial protection to every insurable individual in the country. LIC’s Managing Director and CEO, Siddhartha Mohanty, recently reiterated the company’s focus on providing affordable insurance, especially to rural and economically weaker sections of society. Despite industry debates, LIC has continued to expand its coverage. The insurer reported a 28.29 per cent rise in group yearly renewable premiums and a 7.9 per cent growth in individual premiums during the first 11 months of FY25. As of February 2025, its total premium collection reached Rs 1.90 lakh crore, up 1.90 per cent from the previous year. However, individual premiums for February 2025 saw a slight dip of 1.07 per cent at Rs 4,837.87 crore compared to Rs 4,890.44 crore in February 2024. The number of policies sold under group premiums totalled 4,898 during the 11-month period, a 13.53 per cent increase from the 4,314 policies sold in the previous year. In February alone, LIC issued 12.02 lakh policies in the individual segment, while the group yearly renewable category recorded 1,430 policies and schemes. Across all categories, LIC’s total number of policies stood at 12.04 lakh for the month. Between April 2024 and February 2025, LIC collected Rs 52,382.58 crore in individual premiums, with individual category policies reaching 1.46 crore. –https://wishavwarta.in/
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