LIC Reaffirms Commitment Amid Opposition's Concerns

Life Insurance Corporation of India (LIC) countered claims by Opposition Leader Rahul Gandhi, reiterating its dedication to affordable insurance and agent support. LIC emphasized compliance with new regulations while addressing concerns raised by agents regarding affordability for marginalized communities.

The Life Insurance Corporation of India (LIC) has addressed claims made by Opposition Leader Rahul Gandhi, ensuring its continued commitment to providing financial security for its policyholders while supporting its agents.

The statement followed a meeting between some LIC agents and Gandhi, where they voiced concerns over new rules by the Insurance Regulatory and Development Authority of India (IRDAI) and LIC that allegedly make insurance less accessible for marginalized communities.

LIC's CEO Siddhartha Mohanty clarified that the corporation's products align with the latest regulations, prioritizing policyholders' interests and expanding coverage for economically disadvantaged sections of society.

(With inputs from agencies.)