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The consequences of this lack of awareness are significant. At the beginning of FY2025, insurers were holding more than ₹9,305 crore in unclaimed amounts, including maturity proceeds, death claims and surrender values.
Read MoreNEW DELHI: State-owned Life Insurance Corporation of India (LIC) is engaging with key financial regulators, including and Sebi, to expand the availability of long-term investment instruments as inflows into its annuity products keep on rising, CEO and MD R Doraiswamy said.
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