Dharwad stands first in coverage under Bima Gram Yojana

Dharwad stands first in coverage under Bima Gram Yojana
The Hindu

DHARWAD: Dharwad Division has occupied the first place in the entire south central zone of the Life Insurance Corporation of India for the coverage of villages under the Bima Gram Yojana, Nasaravadhani, senior divisional Manager of LIC, Dharwad, told presspersons here on Friday. Under the scheme, which was introduced during 2002-03 with a view to propagate the concept of insurance in rural areas, the LIC gives incentives to the villages. Only villages with less than 5,000 population, where a minimum of 75 per cent of the families have insurance and lapse of policies is less than 20 per cent, are considered for the incentive.

Accordingly, during 2004-05, 54 villages coming within the jurisdiction of the division were given an incentive of Rs. 13.50 lakhs. During the previous year, Mr. Narasavadhani said 70 villages were covered, involving a payment of incentive of Rs. 17.50 lakhs.

Fourteen schools in the division have been given an incentive of Rs. 35,000 under the Bima School Yojana, he said.

All 14 branches in the division located across the four districts of Dharwad, Gadag, Haveri, and Uttara Kannada, have been computerised, he said. The division had been able to sell 1.78 lakh policies during the previous financial year to mobilise the first premium income of Rs. 62.58 crores.

A total of 63,904 maturity claims involving an amount of Rs. 116.02 crores have been settled and the settlement of death claims stands at 99.81 per cent.

Mr. Narasavadhani said that the central office had sanctioned a loan of Rs. 45 crores to the Karnataka Niravari Nigam, Dharwad, which was routed through the divisional office.