(a) whether the Life Insurance Corporation (LIC) has targeted to cover all households in the western rural areas of the country; and
(b) if so, the details thereof and progress achieved by the LIC so far in this regard?
(a) whether the Life Insurance Corporation (LIC) has targeted to cover all households in the western rural areas of the country; and
(b) if so, the details thereof and progress achieved by the LIC so far in this regard?
Minister of State in the Ministry of Finance (Shri Jayant Sinha)
(a) and (b): Life Insurance Corporation of India (LIC) has informed that LIC has a wide network of 2048 Branches, 1364 Satellite Offices, 1245 mini offices, 112 Divisional Offices and 8 Zonal Offices spread throughout the country. LIC has also informed that strategically many of its satellite offices and mini offices are located in rural areas and unrepresented pockets of tier II cities to cater to rural and semi urban population. LIC has further informed that western rural areas are covered through 440 Branches, 196 Satellite Offices & 237 Mini offices which are operated through 23 Divisions.
LIC’s Micro Insurance Plans are introduced targeting under privileged sections of the society. LIC’s Western Zone covers the three states in western India namely, Maharashtra, Goa and Gujarat.
Details of coverage under Rural policies of LIC for these States during last five financial years is an indicative of the progress made by LIC which is shown as per Annexure I.
Year wise Business completed by Western Zone (Maharashtra, Goa & Gujarat) from Financial year 2006-07 to 2014-15 under Micro Insurance channel is shown as per Annexure II.