LIC’s Srinagar Division attains the target of selling 144000 new policies during financial year 2019-20

Srinagar/April, 12: The Srinagar division of the Life insurance Corporation (LIC) of India has achieved the assigned target of selling 144000 ( one lakh forty four thousand) new policies during the financial year 2019-20.
Sources while disclosing this to Kashmir Horizon said that the policies sold include about 24000 ( twenty four thousand) Micro Insurance policies. Micro Insurance is a low cost insurance meant for providing insurance cover to lower strata of the society and its premium rates are very low. However insiders have revealed that most of these Micro Insurance policies have been underwritten on the lives of nonexistent individulas. It is being said that lower premium rates have come in handy in fabricating figures. There is lot of resentment among the employees of the Division. According to them the Divisional Management has used fraudulent methods in order to portray rosy picture about performance. There is growing demand that whole affair of fake policies and the source of the premium deposited against these policies shall be investigated at highest level so that the people involved are held responsible.