LIC aims at Rs 1,000-cr premium from Jeevan Vaibhav

Life Insurance Corporation of India (LIC) is targeting to collect Rs 1,000-crore premium in Andhra Pradesh and Karnataka from its close-ended, guaranteed-return policy ‘Jeevan Vaibhav’, which was launched on Monday.

AK Sahoo, zonal manager of LIC, who heads the operations of the two southern states, said the company was expecting a very good response to this single-premium plan, the company’s first launch in the current financial year, from the customers of Andhra Pradesh and Karnataka. This guaranteed-return plan has been made available only for a limited period of 120 days from the date of launch, according to Sahoo.