The Hindu Business Line : LIC ties up with HelpAge India to sell products

Mr S. B. Mathur (right), Chairman, LIC, with Mr M. M. Sabharwal, President, Governing Body, HelpAge India, in the Capital on Thursday. - - Ramesh Sharma

New Delhi , Aug. 26

LIFE Insurance Corporation (LIC) on Thursday entered into a tie-up with HelpAge India, an NGO catering to the needs of the aged, to distribute its products in the country.

"With its reach, we hope HelpAge India would help in developing the country's insurance market and increase our penetration," LIC Chairman, Mr S.B. Mathur said. While HelpAge India would act as an agent for selling the insurance products, LIC would provide the after-sales service, which in other case is done by insurance agents.

HelpAge would distribute the products through its 33 offices spread across 17 States, 50 mobile medicare units and over 3,000 rural schools.

The NGO plans to initially launch distribution across nine cities including Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Chandigarh and Lucknow.

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