LIC Declared October Month as a Social Security Month.

Life InsuranceCorporation (LIC) of India is observing the month of October as Social Security Month. “The total number of lives covered under our social security schemes up to the last financial year were over five crore.Out of this, new lives covered were 1.18 crore.

LIC had paid about Rs. 440 crore by way of claims to the 1.38 lakh families below or marginally above poverty line during the last financial year.

“At present, a major scheme sponsored by the Union Government and administered by LIC for the benefit of the weaker sections is Aam Admi Yojana, which has an add-on benefit of Shiksha Sahayog Yojana at no additional cost.In Andhra Pradesh, Telangana and Karnataka — which come under the South Central Zone of the corporation — 1.80 crore lives were covered under the scheme during the last financial year.