LIC declares over 8000 ADO vacancies :

LIC has announced more than 8,000 vacancies for Apprentice Development Officer Recruitment. The vacancies are open for anyone with the graduate degree from a recognized university in India. The selection for the post will be through a preliminary exam followed by a main exam. The online application for ADO has already started.

The ADO is primarily a sales supervision job. The selected candidates will have to sponsor suitable persons to be appointed as Life insurance Agents, train them properly, and help the recruited agents to sell life insurance to maximum number of persons. An Apprentice Development Officer will have to undergo Theoretical and Field Sales Training. The period of apprenticeship shall commence from the date of commencement of the training.

As per the official recruitment notice, “An Apprentice Development Officer who successfully completes the apprenticeship and in opinion of the Recruiting Authority, is otherwise suitable for appointment to the service of the corporation may be appointed as a Development Officer and placed on probation.

IDBI Bank sells policies worth Rs. 160 after LIC tie-up :

After partnering with LIC, IDBI Bank sold insurance policies worth Rs. 160 crore in march 2019. In a statement, the bank said LIC’s corporate agents will be able to sell the products across their 1800 branches.

LIC is the majority shareholder in IDBI Bank holding a 51 percent stake in the banking entity. In January 2019, LIC completed the deal with IDBI Bank.

The bank sold 26, 116 policies in the month of March 2019. IDBI Bank said that LIC’s diversified product base would enable targeting their high net-worth customers in metro and urban areas and other customers in semi-urban and rural areas.

Rakesh Sharma, MD & CEO of IDBI Bank said, “With all these initiatives and synergies in place, the bank will be able to add Rs. 1 ,OOO crore to its bottom-line.

With an increased association with LIC of India in the opening of accounts and resultant balances, IDBI Bank shall move faster towards healthier balance sheet, said LIC.

LIC asked to pay claim along with compensation :

The Kaithal district consumer forum has asked LIC to pay Rs. 4 lakh along with 9 per cent interest to the husband of a deceased woman whose claim has been refused by the company two years ago. The forum has also asked LIC to compensate the husband with Rs. 5000 for harassment, mental agony and litigation charges.

Sudesh Rani of Kaithal district had died on January 9, 2015, due to some illness. Her husband Sahdev had filed claim with LIC as she had bought a life insurance policy from the company. However, raising objections on the deceased’s age and educational background, LIC had refused the claim. The company had also claimed discrepancies in her credentials when she had bought the policy and when her husband filed the claim.

The consumer forum, in its order, stated, once the insurance company had accepted the proposal form from a person and there was no material difference in the age and education qualification, it could not refuse the claim after the death of the person.