Country’s life insurance behemoth, Life Insurance Corporation of India (LIC) has settled claims worth more than Rs 1 trillion in the financial year 2016-17.
LIC, which completed 61 years of its incorporation today, said it had settled 215.58 lakh claims amounting to Rs 1,12,700.41 crore during the financial year 2016-17, it said in a statement.
“We achieved settlement of 98.34 per cent maturity claims and 99.63 per cent of death claims in the year,” as per the statement.
