Life Insurance Corporation of India (LIC), South Central zone, hopes to sell 1 million policies of its newly launched Fortune Plus and Profit Plus products by March next year. The south central zone covers the two states of Andhra Pradesh and Karnataka.
LIC said that the South Central zone had already registered 115 per cent growth in terms of new policies and 76 per cent growth in premium income by August 15 as compared with the corresponding period last year. With the kind of boom already there for the life insurance business and the popularity the LIC enjoyed for its previous unit-linked schemes, we hope to get a good response to our new products as well. As against the annual target of selling 7.4 million policies with a total premium income of Rs 7,654 crore, the corporation has already reported a turnout of 2.3 million policies carrying a premium income of Rs 1,910 crore by the middle of this month.
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