The Hindu : Tamil Nadu News : Micro insurance product launched

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Tuesday, Nov 04, 2008
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Tamil Nadu

Tamil Nadu

Micro insurance product launched

Special Correspondent

SIVAGANGA: Union Finance Minister P. Chidambaram on Sunday launched IFFCO-TOKIO’s Janata Bima Yojna, a micro insurance product, in the State.

Speaking at a function held at Kandanur, near Karaikudi, on Sunday, he said Rs.20,000 was assured to the policyholders a year by paying a premium of just Rs.100. It (premium) was just 25 paise a day. It would suit all, including the poor. Members of self-help groups had been selected to be agents. Laying the foundation for a water tank to be built at a cost of Rs.14.40 lakh under the ‘Namakku Name’ scheme, Mr. Chidambaram said IFFCO had come forward to contribute 50 per cent of the cost. The State government would contribute the rest.

As a commitment to fulfil the corporate social responsibility, IFFCO had desilted 82 tanks and cleared the bushes and blocks along several channels of tanks.

K. Srinivas Gowda, chairman, IFFCO-TOKIO General Insurance, said Janata Bima Yojna was aimed at empowering the masses to protect themselves financially. It would cover property and critical illness. The policy had already been launched in Karnataka, Uttar Pradesh, Gujarat and other States.

Collector Pankaj Kumar Bansal said the proposed water tank would help to supply 20 LPCD to the people of Kandanur.

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