Here’s a cute way to save
LIC International launches ‘Khushi’, promoting the importance of saving for our children while they’re still young.
dubai — LIC International is spreading a drive to boost savings among all the UAE residents and across all major nationalities through its newly launched campaign called ‘Khushi’, said Nick P. Earles, managing director, Kingstar - LIC International.
“Khushi is a ‘mascot’ specially for child plans of LIC International and through this initiative we convey in interesting manner the role life insurance plays in offering solutions like, providing for higher education to our children, benefits of savings for rainy day and keeping the family protected from any unforeseen contingency,” said Earles.
The corporate social responsibility aspect of the Khushi campaign has grown to become an integral part of the programme instilling important values for children through her ‘Khushi Kwotes’ which is posted each Tuesday on her website (www.khushi4life.com) and Facebook page.
The messages expressed by Khushi is like happiness / reading/ exercise / proper eating habits / positivity/ politeness etc. Khushi’s messages coincidently reflect many of the initiatives promoted by the UAE government resulting in a corporate social responsibility aspect to the campaign.
Currently the Khushi campaign is promoting the LIC International - Professional Education Plan (Plan 219). “In future we envisage Khushi eventually promoting other important LIC Int’l products such as Pension planning (for her parents) generally saving & investment plans (for the future) and standard Life insurance for family protection,” said Earles.
Kingstar Insurance is the chief agents for LIC International in the UAE and have insured operations in the UAE. The company has witnessed a 22 per cent growth in policy numbers and approximately nine per cent growth in total premium collected in the UAE. LIC International, the international subsidiary of LIC of India has offices in Kuwait, Qatar, Oman, UAE and has its head quarters in Bahrain. The corporation currently has two offices in the UAE — Dubai and Abu Dhabi, with plans to open in Sharjah, Northern Emirates and on the East Coast, in order to bring the company’s valuable products to the UAE population and the NRIs in particular. LIC is also seeing an increasing number of other nationalities apart from Indians benefitting from the LIC product range.
LIC International are in the UAE for the long term and envisage growth of at least 10 per cent over 2016, with a broader market penetration amongst the expatriate population. Speaking about the growing ties between UAE and India and the sector agreement signed last year by the UAE’s Insurance Authority and the Insurance Regulatory and Development Authority of India (IRDAI) signed Memorandum of Understanding (MoU) in February 2016 was aimed at promoting cooperation in insurance regulations. The agreements were signed after talks between His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Indian Prime Minister Narendra Modi in New Delhi.
“The MoU was a significant and memorable extension which, by its stated objectives, did much more than consolidate the existing close and commercial cooperation between the two countries,” said Earles.
The IRDAI, with its mandate to regulate the massive, and commercially strategic insurance industry in India, was able to impart some of the invaluable experience gained over the last decade and a half. Its primary role is to ensure the Indian consumer access to a competitive and sustainable insurance market, whilst promoting best practice guidelines and a high level of corporate compliance. “The IRDA has further reinforced its crucial role as India’s pro-active Insurance market regulator,” he said.
— sandhya@khaleejtimes.com