LIC Division sets record in first premia income

Kochi, Feb 1 (UNI) The Ernakulam Division of the LIC has created a record by becoming the first division to cross Rs 1,000 crore in first premia income.

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 by garnering 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.

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 launching 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.

UNI ARC GM 1458