Kochi, Feb 1: The Ernakulam Division of public sector LIC has created a record by becoming the first division of the company to cross Rs 1,000 crore first premia income ever. Announcing this at a press conference here today, Senior Divisional Manager J Anil Kumar said the division had surpassed its target of first premium income of Rs 955 crore for 2007-08 and had garnered Rs 1,000 crore as on January 31, 2008.
''We expect to close the year with a first premia income of Rs 1,500 crore,'' he added.
He said the LIC Ernakulam Division continued to be the number one among the 105 divisions of the country in terms of business.
The Rs 1,000 crore income was earned through the sale of 4,42,484 policies. The company's unit linked insurance plan (ULIP) 'Market Plus' was the most popular product, accounting for nearly 95 per cent of the business, he added.
Mr Anil Kumar said the LIC was lauching a new unit linked health insurance plan from February four.
Called 'Health Plus', the major benefits of the product would be hospital cash benefit, major surgical benefit, domiciliary benefit treatment and growth of invested money in units.