“Committed to broadening life insurance coverage, LIC has consistently focused on reaching rural areas and economically and socially disadvantaged sections. Our aim is to extend financial protection to every insurable individual at an affordable cost .” Shri. Mohanty said.

 

Shri Mohanty added “With a diverse portfolio catering to various customer segments and different strata of society, LIC fully complies with all regulatory requirements. As an example, our Micro Bachat plan offers a minimum sum assured of ₹1 lakh and is exempt from GST, ensuring accessibility. Post changes in product regulations, the commission has not been reduced for agents, it has been given in staggered manner .”