Second micro insurance product launched by LIC
Chennai, September 03: The Life Insurance Corporation of India today launched it’s second micro insurance product – ‘Jeevan Mangal’ aimed at lower income groups, as well as those living in remote rural areas.
“This policy, a term assurance plan with return of premiums paid on maturity, will be sold only by Self Help Group (SHG) and NGOs”, LIC Zonal (South) Manager V K Sharma told reporters here.
“We have set a target of selling a minimum of five lakh policies during the first year”, he added.