LIC Public Alert: You Can Face Strict Legal Action, Here’s Why

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New Delhi: Life Insurance Corporation of India (LIC) has issue public alerts. The Life Insurance Corporations has issued stern warning against the unauthorized use of the India’s largest life insurer’s Logo. LIC has said that website, publishing house, digital entities must not publish its logos without seeking the required permission to the the government insurer.

LIC has warned that it will take strict legal action against who will be found making unauthorized use of its logo

In a tweet, LIC has said that “LIC Public Alerts – Unauthorized use of LIC’s Logo”. “LIC logos can not be used in any website, publishing material and digital post,” LIC has said in a tweet. “Strict legal action – civil and criminal – will be taken against such person,” LIC stated in the tweet

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In April, LIC had said it has collected the highest ever new business premium of Rs 1.84 lakh crore in the fiscal ended March 31, 2021. Its market share stood at 81.04 per cent in number of policies for March 2021 and 74.58 per cent for the full year, LIC said in a release, as per a PTI report.

During the fiscal 2020-21, the insurer achieved first year premium income of Rs 56,406 crore under individual assurance business, a growth of 10.11 per cent over FY20. It procured 2.10 crore policies, out of which 46.72 lakh were procured in March alone, registering a growth of 298.82 per cent over FY20 for the corresponding month, the release said, the PTI report says.

Its market share in the first year premium stood at 64.74 per cent for March and 66.18 per cent for the entire fiscal. The insurer’s pension and group schemes vertical also created a new record by clocking its highest ever new business premium income of Rs 1.27 lakh crore over a huge base of Rs 1.26 lakh crore in the previous year ended March 31, 2020. The number of new schemes sold also saw a new record of 31,795, the release said. With the addition of 3,45,469 agents, LIC now has a strong sales force of 13,53,808 agents, it said.