LIC CEO addresses concerns raised by agents, affirms commitment to policyholders, agents
Mumbai: A delegation of LIC agents met with the Leader of the Opposition to voice their concerns regarding recent changes in policy regulations. In response, LIC Chairman and Managing Director Siddhartha Mohanty issued a statement clarifying the company’s stance and reaffirming its commitment to both policyholders and agents.
Mohanty stated that LIC has introduced new products in accordance with the Insurance Regulatory and Development Authority of India's (IRDAI) New Product Regulations, which came into effect on October 1, 2024. He emphasized that these changes were implemented with the interests of policyholders as the top priority.
"LIC has always been committed to broadening life insurance coverage, particularly in rural areas and among economically and socially disadvantaged sections. Our goal is to extend financial protection to every insurable individual at an affordable cost," Mohanty said.
Addressing concerns about commissions, Mohanty clarified that while product regulations have undergone modifications, agent commissions have not been reduced. Instead, they are now provided in a staggered manner.
He further highlighted LIC’s diverse portfolio, which caters to various customer segments while fully complying with regulatory requirements. Citing the Micro Bachat plan as an example, he noted that it offers a minimum sum assured of ₹1 lakh and is exempt from GST, making it more accessible to a wider audience.
Reaffirming LIC’s commitment to its agency network, Mohanty stated, "LIC remains dedicated to providing financial security to policyholders while also supporting the well-being of its agency force."
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Record-holder swimmer drowns while practicing in pool in Mangaluru
Mangaluru: Record-holder swimmer K Chandrashekhar Rai Surikumeru (52), who was known for performing yoga and somersaults underwater, died of drowning in the Mangaluru City Corporation swimming pool on Sunday.
Rai, who was a native of Surikumeru near Kalladka in Bantwal taluk, lived in Kudroli, Mangaluru. He is survived by his wife and a daughter.
He had been employed as a lifeguard at the swimming pool in Udupi under contract-basis and was working as manager of the MCC swimming pool for three years. He also worked as a lifeguard and swimming trainer.
On Sunday morning, Rai is said to have handed the security guard of the pool his mobile phone, saying he would practice for some time, but shortly after diving into the pool, he died of suffocation.
The post-mortem examination of his body was conducted at the District Wenlock Hospital and the funeral rites were held at his native place, Rai’s brother Radhakrishna Rai has said.
Rai, known for his skills in swimming, had entered the Worldwide Book of Records in 2023 by performing 28 front flip somersaults in a single stretch.
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