The Hindu Business Line : LIC's Bima Gold launched in AP

BIMA Gold, LIC's new policy, launched by the Prime Minister on the occasion of its Golden Jubilee, will be of great help to those who are in the late 40s or on the wrong side of 50, according to Mr S. Behera, Senior Divisional Manager.

At a press meet here on Friday, Mr Behera explained the features of the policy, and said Rs 5 out of the sale of each Bima Gold policy would be contributed to the Prime Minister's Relief Fund to mitigate natural calamities.

The minimum sum assured under the Bima Gold policy would be Rs 40,000 and there was no limit on the maximum amount.

The sum assured would be in multiples of Rs 5,000 only. The accident benefit would be up to Rs 50 lakh (all policies included).

Bima Gold would be sold up to the end of the financial year, he said. The minimum age of entry is 14 years.

By the end of August, Mr Behera said, the Vizag division had sold more than one lakh policies against the target of 3.89 lakh during the financial year. The first premium amount collected was Rs 40 crore.

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