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LIC policyholder? Life Insurance Corporation has an important message you must not miss!

LIC policyholders alert! News is doing rounds of social media platform claiming that LIC is in a weak financial position and several of its policyholders might end up losing their money.

India TV Business Desk India TV Business Desk
New Delhi Updated on: October 11, 2019 15:10 IST
LIC policyholder? Life Insurance Corporation has an
Image Source : PTI

LIC policyholder? Life Insurance Corporation has an important message for you

Attention LIC policyholders! Social media platform like Twitter, Facebook, WhatsApp helps people stay connected and updated with the latest and important news feed, however, there is no shortage of fake news too. Recently, a news is doing rounds of social media platform claiming that LIC is in a weak financial position and several of its policyholders might end up losing their money.

However, the national insurer Life Insurance Corporation (LIC) has confirmed the fact through a statement refuting social media claims and assured millions of its policyholders that their money is safe and secure. LIC said that its "financial health is sound".

The clarification came after messages on social media claimed that LIC is in heavy losses, raising concerns over the safety and security of money of tens of millions of policyholders. In a statement, LIC said, the news on social media is factually incorrect, uncorroborated and intends to tarnish its image and also create panic in the minds of policyholders.

"We refute such false rumours and we would like to assure our policyholders about its sound financial health and urges them not to take cognizance of such misleading news," LIC said in a statement. 

Assuring policyholders of its sound financial health, the national insurer urged policyholders to not to take cognizance of any misleading news being circulated on social media platforms.

LIC had declared the highest-ever bonus amounting to 50,000 crore rupees and upwards to its policyholders for the year 2018-19. Notably, LIC is also the largest investor in the equities and debt market valued at trillions of rupees.

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