Life Insurance Corporation of India (LIC) is set to open 300 officesby the end of this month. At an event next week, Finance MinisterP Chidambaram would inaugurate 300 mini LIC offices at one go. These offices, to be spread across the country, would have an LIC employee each, as well as agents empowered to collect premiums.
These offices would not only collect premium and issue policies, but also assist customers in renewals. Thomas Mathew T, current-in-charge chairman, said, “In India, there are 3,867 locations with populations of 10,000 or more. We are present in 2,167 locations. We would open 1,700 additional offices by the end of December.”
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