In FY20, LIC said, the number of policies it sold was the highest in the last six years. Moreover, as of March 2020, it has settled 20.3 million maturity and money back claims and annuities. It has also settled 750,000 death claims.
Annuity payments due in March and April have also been settled on due dates. In FY20, premiums from LIC’s pension and group schemes clocked Rs 1-trillion-mark.