Financial Daily from THE HINDU group of publications
Tuesday, Feb 17, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 17, 2004 |
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Money & Banking
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Life Insurance LIC South Zone first premium income up Our Bureau
Chennai , Feb. 16 LIC's South Zone has earned a first premium income of Rs 1,387 crore in the first ten months of the current financial year, including Rs 559 crore under the `Varishta Pension Bima Yojana.' Total premium income from the Zone (Tamil Nadu, Kerala and Pondicherry) amounted to Rs 5,840 crore against Rs 4,438 crore in the comparable period of last year, LIC's Zonal Manager-South, Mr R.R. Nair, said at a press conference. Total income, including investment income, worked out to Rs 6,025 crore, up from Rs 4,600 crore previously. Mr Nair announced the launch of a new policy, Jeevan Saral. A unique feature of the scheme is that the risk cover is the same, irrespective of the `age at entry' or the term of the policy. Only the sum payable at maturity will be different for different ages at entry and policy term. On death of the insured, LIC will pay 250 times the monthly premium plus bonus and also return all the premium collected except the first year premium.
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