LIC offers more value added benefits to 'Bhagyalaxmi'

Bangalore, Sep 4(UNI) The Life Insurance Corporation of India, has offered more value added benefits to Karnataka Government's unique insurance scheme 'Bhagyalaxmi' which covers girl child of parents of Below Poverty Line (BPL) families in the State.

Speaking to newsmen here today, LIC Bangalore Division I, Senior Divisional Manager Pramod Kumar Gupta, said that the Corporation had expressed its desire to involve itself with the scheme by giving insurance coverage to the parents of the girl child and also quarterly scholarship of Rs 300 when the girl reached Standard Nine as a special incentive.

Stating that the details are being worked out, Mr Gupta said that a Memorandum of Understanding (MOU) in this regard with the Karnataka government may be signed shortly.

It may be recalled that the state government in its efforts to discourage female foeticide and also to curb school drop-out rate had announced the 'Bhagyalaxmi' scheme. The State Government deposits Rs 10,000 if a girl child was born and the amount with interest would be paid after the girl attains 18 years. Two girl children in each BPL family were eligible to avail the scheme.

He said that to commemorate the 50 years of service in the Insurance sector the Corporation had launched a New Bima Policy targetting both high and low income groups. The new policy has plan where premiums paid over the term of plan are paid back during the policy term in instalments at specified duration in case of survival of life assured and life insurance cover was available not only during the term but also during the extended term of the plan.

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