Shania Shayal Prasad 
[File Photo]
The Life Insurance Corporation of India says a significant number of working Fijians remain without life insurance coverage, raising concerns about financial preparedness.
LICI Manager Finance Vivek Prakash says more than 400,000 income earners are registered under the Fiji National Provident Fund, while only about 100,000 are life insurance policy holders.
Prakash says there is a significant gap in long-term financial security planning, particularly for families who rely on a single income.
“So we are working towards those segments like if you see the spread of LICI, it is from everywhere from high net worth individuals to the person from a lower level or lower starter of the society, everywhere we have a product to cater to every, every segment of the society.”
Prakash states that life insurance plays a critical role in helping households manage financial risks.
LICI Manager Information and Network Management Raveendra Kunchanapalli says the company is strengthening its agent network to boost accessibility.
“We want to reach more people digitally; that is one thing we were planning, and we want to empower our agents to access the data.”
LICI says expanding access to insurance will improve financial resilience and support long-term household stability across Fiji.
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