Karnataka - Mangalore   

LIC plans special branch

MANGALORE: The Udupi division of the Life Insurance Corporation of India is planning to set up a ‘satellite sanchar office’ or a special branch here to promote its alternative products such as health insurance, credit cards and so on, Surendra Behera, senior divisional manager, Udupi division, has said. The LIC will also open satellite branches in Moodbidri and Belthangady in Dakshina Kannada district shortly.

Addressing presspersons here on Wednesday, Mr. Behera said the LIC had four offices in the city: three conventional ones and another dealing exclusively with pension/group insurance.

Stating that the LIC wanted to open the special branch in the Kankanady area, Mr. Behera said customers could contact this branch for routine transactions such as payment of premium. Work on satellite branches had been completed, he said. Telephone data connectivity was required to begin operations there. The LIC will be introducing unit-linked endowment assurance plans on Thursday.Individual agents, corporate and bank agents could buy these policies on behalf of customers.

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