How Did LIC Achieve a Guinness Title for Most Life Insurance Policies Sold in 24 Hours?
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Synopsis
The Life Insurance Corporation of India (LIC) has made history by earning a Guinness World Record for the most life insurance policies sold in just 24 hours. This incredible achievement highlights the dedication of LIC agents and their relentless pursuit of excellence in serving customers.
Key Takeaways
- LIC secured a Guinness World Record for most policies sold in a day.
- Over 4,52,839 agents contributed to this achievement.
- The record was set on 'Mad Million Day' on January 20, 2025.
- LIC exhibited a 9.91% increase in new business premiums.
- Overall life insurance industry growth reached 8.43% in April.
New Delhi, May 24 (NationPress) The Life Insurance Corporation of India (LIC) has proudly announced that it has secured a Guinness World Records (GWR) title for the 'most life insurance policies sold in 24 hours.'
On January 20 of this year, an impressive total of 4,52,839 LIC agents successfully completed and issued an incredible 5,88,107 life insurance policies throughout India.
This remarkable achievement set a new global standard for agent productivity in the life insurance sector within a single 24-hour timeframe, as per the statements from LIC.
The record attempt was the result of a well-thought-out initiative by Siddhartha Mohanty, CEO and MD of LIC, who encouraged every agent to finalize at least one policy on the special 'Mad Million Day' (January 20, 2025).
Mohanty expressed gratitude towards all esteemed customers, agents, and employees for transforming 'Mad Million Day' into a historical event, as their extraordinary performance in securing a record number of policies on one day has now received international recognition.
“Team LIC is overjoyed to achieve this esteemed Guinness World Records title. This represents a strong affirmation of the unwavering dedication, expertise, and tireless work ethic of our agents. This accomplishment underscores our profound commitment to providing essential financial protection to our clients and their families,” the company stated.
Recently, LIC reported a 9.91 percent increase year-over-year in new business premiums for April, exceeding the industry growth rate of 8.43 percent and the growth of private life insurers at 6.09 percent.
According to data from the Life Insurance Council, LIC amassed Rs 13,610.63 crore in new business premiums last month, up from Rs 12,383.64 crore during the same period last year.
The overall life insurance sector generated Rs 21,965.73 crore, reflecting an 8.43 percent rise compared to Rs 20,258.86 crore collected in the same month last year. Private life insurers contributed Rs 8,355.10 crore, marking a 6.09 percent increase over the previous year's Rs 7,875.22 crore.
Point of View
I believe that LIC's achievement is not just a record but a testament to the relentless efforts and dedication of its agents. This milestone is a clear indication of LIC's commitment to customer service and its role in providing essential financial security to millions across the nation. Such achievements strengthen LIC's position in the insurance landscape and set a high bar for the industry.
NationPress
01/06/2025
Frequently Asked Questions
What record did LIC achieve?
LIC achieved the Guinness World Record for the 'most life insurance policies sold in 24 hours' with over 5,88,107 policies.
When did this record take place?
The record was set on January 20, 2025, known as 'Mad Million Day.'
How many agents participated in this effort?
A total of 4,52,839 agents participated in the record attempt.
What was the increase in LIC's new business premiums?
LIC reported a 9.91% increase year-on-year in new business premiums for April.
How much new business premium did LIC collect last month?
LIC collected Rs 13,610.63 crore in new business premiums last month.
