A national seminar on “Insurance for All by 2047” was organised by the Visakhapatnam Insurance Educational Society, an institute associated to the Insurance Institute of India, Mumbai, in Visakhapatnam on Sunday. .
Delivering the keynote address, K. Padma, a retired professor of Economics, Women’s Degree College, said that even after nearly eight decades of Independence, insurance coverage has not reached everyone. She expressed hope that the goal of universal insurance would be achieved by 2047. She stressed the need for policies that encourage small savings and stated that even if FDI in insurance is increased to 100%, the benefits of insurance would reach all sections of society only when people’s purchasing power improves.
A.V.R. Krishna Murthy, secretary of the Vizag Insurance Educational Society, said that LIC has been providing insurance protection for the past 69 years and emphasised the need to further expand insurance penetration, especially into rural areas. He called for the formulation of a comprehensive policy to ensure insurance coverage for all citizens by 2047.
D. Rama Rao, manager, LIC, highlighted the importance of focusing on the youth and appealed for providing insurance coverage to all eligible citizens.
D.V.S.Y. Sharma, All India Council Member, S.S. Murthy, vice chairman, Ande Subba Rao, M. Kameshwari, president and G. Varaprasada Rao, general secretary of the Insurance Corporation Employees’ Union (ICEU) attended the event.
Published – December 22, 2025 07:02 pm IST
