Life Insurance Corporation of India (LIC) has targetted mopping up of Rs.250 crore within one month in south zone with its new endowment-plus unit linked insurance policy (ULIP), said a senior official on Wednesday.
Launching the policy here, LIC south zone manager T. Sitharthan said: "We are planning to sell around 100,000 policies in one month's time and earn a premium of Rs.250 crore."
For LIC, south zone comprises Tamil Nadu, Kerala and the union territories of Puducherry and Lakshadweep.
The policy offers life cover and investment return.
According to Sitharthan, even a 90-day-old baby can be covered under the policy.
He said on the death of the policy holder, the fund value or the sum assured - whichever is higher - would be paid.
The policy also offers fund-switch options.
According to LIC officials, the overall target for south zone this fiscal is Rs.3,212 crore in premiums.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app