Chennai, Feb 02: Life Insurance Corporation (LIC), the leading insurance service provider in the country, today announced that it has emerged the leader in the south zone garnering more than Rs 6,200 crore first premimum income in the current fiscal, with a growth rate of 63 per cent.
Talking to newspersons here, LIC south zone manager B Manivannan said over 40.8 lakh new policies had been sold in the current year registering a phenomenal growth rate of over 56 per cent compared to last financial year.
The Ernakulam Division of south zone has emerged the leader in the country procuring over Rs 1000 crore of first premimum income, for the first time in the company's history.
Changanacherry in Kerala was the first branch in the country to achieve all of its new business targets, he said adding more than 1,500 agents have qualified under MDRT as against 330 last year. Salem division in Tamil Nadu had the highest number of MDRT agents in the country (318).
Mr Manivanan also announced the launch of LIC's first long term unit linked health insurance plan 'LIC Health Plus' with effect from February four 2008.
"This plan provides for hospitalisation cash benefit and major surgical benefits", he said, adding " a unique faturs of this plan is that the principal insured can withdraw an amount equivalent to the actual expense, incurred for any domiciliary treatment".
He said the benefits would continue even in the event of the unfortunate death of the principal insured after three years, subject to availability of fund.
"The premimums paid under the plan will be expempt from income tax", he added.