The Hindu Business Line : LIC expects Rs 20,000 cr rise in investments

At a press conference here, Mr Sridhar said that LIC expected to earn premium income of Rs 850 crore through `alternate channels', mostly bancassurance. LIC has pacts with 34 banks across the country to sell its products.

In the first seven months of the current year, these banks earned Rs 100 crore premium income for LIC. Mr Sridhar said that he expected bancassurance sales to pick up in the second half of the year.

He said that in the April-October, LIC had earned first premium income of Rs 6,600 crore, which represents a growth of 63 per cent over the corresponding period of last year.

Mr Sridhar was here today in connection with the launch of a policy, Bima Bachat, which is a combination of single premium and money-back schemes.

An illustration provided by LIC shows that if a 35-year-old person pays a single premium of Rs 67,058 for a `sum assured' of Rs 1 lakh and for a 9-year term policy, he could get Rs 1.21 lakh over in three year instalments spread over the nine-year period.

Answering a question, Mr Sridhar said LIC was not thinking of coming out with an IPO.

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