Iffco-Tokio launches micro insurance product in Kerala

Iffco-Tokio General Insurance Co, the joint venture promoted by Indian Farmers Fertiliser Co-operative (Iffco) and its associates and Japanese major Tokio Marine and Nichido Fire, has launched its new micro insurance product - Janata Bima Yojana - in Kerala.

The policy extends coverage under two sections, property and critical illness. While the property cover is for householder's content only, critical illness would extend to ailments such as paralytic stroke, cancer, coronary artery disease, major injuries and coma. Both the policies would be for a sum of Rs 10,000 assured, said N K Kedia, director - marketing, Iffco-Tokio.

It is available at premium of Rs 100 — for a couple including taxes — to the rural population and covers people in the age group of 18-60. Children can also be included with an additional premium of Rs 25 per child.

The policy has already been launched in Tamil Nadu, Karnataka, Uttar Pradesh, Gujarat, Rajasthan, West Bengal and Andhra Pradesh.