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 Money & Banking - Life Insurance
Micro insurance product launched

Coimbatore, Sept. 18

ICICI Prudential Life has launched its first micro insurance product - Sarv Jana Suraksha - designed to make life insurance cover available across low income groups. The minimum premium payable is Rs 50 a year. The product has a term of 5 years and offers age independent premium to customers in the 18-55 age group, offering a minimum sum assured of Rs 5,000 and a maximum limit of Rs 50,000. The plan entails yearly premium with death benefit amounting to 100 times the base premium and can be availed up to 60 years of age. Mr Anup Rau, Senior Vice-President and Head (Sales), said the product aimed to provide life cover to lower income groups at affordable cost, besides protecting them against liabilities such as debt/mortgage. - Our Bureau

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