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$9.45 Million Bonus Payout For LICI Policy Holders

LICI adds reversionary bonus to a policyholder’s account at the end of every year. This year Life Insurance Corporation of India, (LICI) will pay out a bonus of $9.45 million
24 Apr 2017 11:00
$9.45 Million  Bonus Payout For LICI Policy Holders
LICI general manager Sanjay Dayal (fourth from left) and High Commissioner of India to Fiji Vishwas Sakpal (sixth from left) with Stakeholders during the meet and greet program at the Novotel Hotel, in Nadi on Friday, April 21, 2017. Photo: WAISEA NASOKIA

LICI adds reversionary bonus to a policyholder’s account at the end of every year.

This year Life Insurance Corporation of India, (LICI) will pay out a bonus of $9.45 million to its Fijian policyholders.

This was confirmed by the insurance company’s general manager, Sanjay Dayal, during the stakeholders meet and greet programme at the Novotel Hotel in Nadi last Friday.

Mr Dayal said: “LICI adds reversionary bonus to a policyholder’s account at the end of every year. The strength of LICI is its consistent high bonus rates declared year after year.

“LICI’s amount of investments of LICI in Fiji as on date is $486m and assets of LICI Fiji operations as on date amount to $560m.

“From the humble beginnings 60 years back, LICI has today become the tower of assured security and is proud to be the fabric of society and the economy of this great nation.”

He added LICI had a wide variety of products, which fulfilled the needs of different segments of society.

“With this wide variety of products, LICI is the market leader in life insurance, leading with 59 per cent share in policies and 68 per cent share in premium. LICI is servicing over 60,000 policies as on date,” Mr Dayal said. 

“Last year when TC Winston hit our shores, LICI reached out to help people and distributed basic essential items to them. LICI has also contributed $10,000 to the Prime Minister’s National Disaster Relief and have adopted a school by contributing $40,000.”

India’s high commissioner to Fiji, Vishwas Sakpal, praised LICI, its staff and stakeholders for contributing well to the Fijian economy.

Edited by: Ivamere Nataro

Feedback: waisean@fijisun.com.fj

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