LIC coming up with health policy

Indore, June 5: The public sector Life Insurance Corporation of India will come up with a health insurance policy in next few months, its Managing Director T Thomas Mathew said here today.

Talking to mediapersons, he said the new products would be filed soon with the Insurance Regulatory Authority IRDA and after getting its nod the product would be launched. It would take two to three months, he said, adding a separate company had already been formed for the health insurance scheme.

Mr Mathew said despite stiff competition in the insurance sector, LIC had increased its market share to 74 percent from last years'71 percent. The competitors make us more aware and alert ,he added.

LIC has obtained Rs 40,000 crore new premium from 3.82 crore new policies. It had opened 2048 fully computerised new branches last year besides 400 satellite branches.

Mr Mathew said LIC had 22 crore policies, more than the population of many countries. ''We believe in providing world class services to our customers''.

Earlier, he switched on the buttons of cochlear implants planted to four hearing impaired children. LIC has given Rs 21 lakh for these eqipments to non-government organisation ''Navjivan Badhir Samiti'.

LIC has allocated Rs 52500 crore for social welfare, Mr Mathew said.

UNI