Kata Koli 
The Life Insurance Corporation of India has paid out $34 million in claims under 5,000 policies in the first eight months of this year.
This has been confirmed by LICI General Manager Pradeep Shenoy.
Shenoy says this includes a $2.8 million payment for 120 death claims, $17.8 million for 735 maturity claims, and $14.9 million paid out for 4,188 survival benefit claims.
“I am talking about yesterday in the first 8 months of the financial year, and the total amount paid is slightly more than $34 million. We are quite confident that the claim figure will cross last year’s figure by the time we touch the end of the current financial year.”
Shenoy adds that LICI has been investing in Fiji infrastructure bonds on a regular basis, with a total investment of $64 million in the first eight months of this year.
According to the latest data, 62.5 percent of the life insurance policies in Fiji are with LICI.
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