Daijiworld Media Network – Udupi (SP)

Udupi, Nov 13: Agents of Life Insurance Corporation of India (LIC) working under Udupi division of LIC, held protest demonstrate opposite the divisional office of LIC here on Friday November 11. The protest was in support of their various demands.

Former LIC employee and labour leader, Admar Sripati Acharya, inaugurated the dharna. Ramesh Kumar, general secretary of Karnataka state committee of Insurance Agents Association, and treasurer, B Gurucharan Rao, were among those present at the protest.

Acharya noted that agents have immensely contributed to the growth of LIC from a small entity with a capital of five crore rupees, into a behemoth with a capital outlay of over twelve lac crore rupees. He accused the central government of planning to privatize LIC and allow direct foreign investment in life insurance business, which will adversely affect the prospects of the life insurance agents.

The agents demanded stoppage of direct marketing of life insurance policies, withdrawal of amendment brought to the Agents Actr 1972, starting of welfare fund for agents, etc.