IFFCO-TOKIO launches micro-insurance for masses

New Delhi, Apr 21 (UNI) IFFCO-TOKIO General Insurance Company Ltd (ITGI) today launched 'Janata Bima Yojana', a micro-insurance policy aimed at empowering the masses for protecting themselves financially.

Mr Veer Pratap Singh, Director IFFCO Tokio inaugurated the Police in Unnao at an event organised by ITGI in the area.

Janata Bima Yojana will be available at an extremely affordable premium of Rs 100 (for a couple, including taxes) to the rural population and will cover people from the age group of 18-60 years.

The policy extends coverage under 2 sections which include property cover (householder's content only) and critical illness cover (paralytic stroke, cancer, coronary artery disease, loss of limbs and coma) with a sum assured of Rs 10,000 under both the sections.

There is a provision for children to be included as well at an additional premium of Rs 25 per child under the policy.

Commenting on ITGI's rural initiatives, Mr S Narayanan, MD and CEO, IFFCO-TOKIO, said, ''ITGI is one of the pioneers in the insurance sector focusing on the virtually untapped rural Indian market and Janata Bima Yojana is a step in that direction.'' Speaking on the occasion, Dr U S Awasthi, Managing Director, IFFCO, said, ''given the tremendous potential existing in the country today for micro insurance products, we have launched the Janata Bima Yojana taking into account the needs of the rural population.'' Dr Awasthi further informed that earlier ITGI has successfully launched Barish Bima Yojana and Sankat Haran Policy besides Mausam Bima Yojana which provides for various other vagaries of weather occurring during crop cycle of Rabi crops viz temperature, frost.

ITGI also offers a policy targetted specailly at women organised as Self Help Groups. The policy offers complete protection against all accidental occurrences that might lead to death or accidental injury.

Amongst other initiatives, ITGI has launched 'Jan Kalyan Bima' and 'Kisan Suvidha Bima Yojna.

ITGI is a joint venture promoted by Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and The Tokio Macine and Nichido Fire, the largest insurance company in Japan with 74 per cent and 26 per cent equity respectively. ITGI has more than 170 offices across the country.

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