Fijians are being encouraged to consider whether they have adequate life insurance cover as insurance penetration in the country remains below two percent.
This was stressed by LICI General Manager Shridhar Pathare during the company's 70th anniversary celebrations, saying insurance density stands at about $210 in premiums per person.
Pathare says there is significant room for growth in Fiji, with many people either not having life insurance or potentially being underinsured.
LICI Fiji currently has more than 62,000 policyholders and more than 200 agents, with four offices and five sales service centres around the country.
He says the company's assets have reached almost $1.05 billion.
LICI also generated a valuation surplus of $27 million last year, with Pathare saying 95 percent was distributed among policyholders.
Pathare highlights that LICI settled around 174 death claims last year and paid $4.74 million to nominees, adding that these payments provide financial support to families following the deaths of policyholders.
LICI also settled more than 1,200 maturity claims last year, distributing $23.91 million, while 5,619 policies received survival benefits totalling $18.90 million.
Meanwhile, LICI IT Manager K. Raveendra says the company has not faced difficulties managing accident-related claims despite concerns about the increasing number of road accidents.
Raveendra says that over the last five years, LICI has recorded around 180 death claims among its policyholder base of about 62,000.
He says about 20 to 25 of those were accident benefit claims, representing less than 0.2 percent of the company's policyholder base.
He says policyholders with accident benefit riders can receive an additional payment in the event of an accident, depending on their cover.
LICI HR Manager Vivek Prakash says the company also offers rider benefits for an additional premium.
Prakash says one of these is the double accident benefit rider, which provides additional benefits relating to accidents and can also cover disability due to an accident or illness.
Pathare also highlighted LICI's investments in Fiji Infrastructure Bonds.
He says the market value of the company's investment in Fiji Infrastructure Bonds stood at $943 million as of 31st December 2025, while a further $56 million has been invested so far this year.
Pathare says these investments channel policyholders' savings into projects that strengthen roads, schools, hospitals and communities.
Meanwhile, LICI, which began operations in India on 1st September 1956, started operating in Fiji on 5th October 1956 and will mark 70 years of operations in the country next month.
The company is also marking its 70th anniversary with community initiatives, including support for charitable organisations, elderly care facilities and schools.
