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LIC to launch Jeevan Saral

By Our Special Correspondent

MADURAI, FEB. 14. The Life Insurance Corporation, with the objective of making the concept of life insurance flexible, has planned to introduce a `new generation plan' on Monday.

Talking to newsmen here today, the Senior Divisional Manager, P. Annadurai, said the new policy, Jeevan Saral, had a higher risk cover and provided for easy liquidity. He said the customer had the choice of fixing the premium amount.

The risk cover on death provided by the policy worked out to 250 times the monthly premium paid by the policyholder. LIC would refund the premiums paid with the sum assured and loyalty benefits, in the event of death of the insured, Mr. Annadurai said.

Southern zone's premium income up

The total premium income realised by the southern zone of Life Insurance Corporation was higher at Rs. 5,840 crores as on January 31 against Rs. 4,438 crores in the corresponding period in the previous year. The zone sold 20.71 lakh policies in the 10 months ended January as compared to 19.04 lakh policies in the same period in the previous year. According to a release, in the individual segment 20.42 lakh policies were issued for a sum assured of Rs. 15,992 crores against Rs. 13,027 crores with a first premium income of Rs. 448 crores (Rs. 385 crores).

Under the single premium segment, 13,824 policies were issued for a sum assured of Rs. 117 crores with a first premium income of Rs. 96 crores.

The southern zone of the corporation issued 15,512 policies under individual pension policies with first premium income of Rs. 37 croresand 12,833 policies under Bima Plus unit linked plan.

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