The southern zone of Life Insurance Corporation of India (LIC) garnered first year premium income of ₹2,592 crore during the current fiscal through more than three lakh poicies of which Tamil Nadu division accounted for more than ₹1,567 crore through over two lakh policies. Last fiscal, the zone clocked first year premium income of ₹5,672 crore through 18 lakh policies, LIC said.It settled 23.52 lakh maturity claims for ₹23,879 crore and 68,955 death claims for ₹1,064 crore, LIC said in a statement. In the case of Tamil Nadu, it procured more than 12 lakh policies for a new business premium of ₹3,598 crore. Stating that south zone with eight zones occupied the top slot, LIC said that during the ongoing revival campaign, south zone revived over 1.34 Lakh policies by waiving late fee. As on August 27, 2020, LIC’s south zone settled over seven lakh maturity claims amounting to ₹4,904 crore and 21,355 death claims of ₹394 crore. A sum of ₹3.93 crore in claims were settled for 57 people who died due to COVID-19, the statement said.
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