Infosys renews Group Life Policy with LIC

Bangalore, Sept 11 (UNI) IT giant Infosys Technologies today renewed its Group Life Policy with Life Insurance Corporation to provide insurance coverage to all its employees.

Infosys Board Member Mohandas Pai said all the employees were covered with life and accident insurance with the cover amount ranging between Rs 30 lakh to Rs 100 lak per employee. However, LIC cover varies between Rs 20 lakhs to Rs 80 lakhs per employee making a total sum insured with LIC over Rs 24,000 crore covering more than 90,000 employees.

Talking to newsmen here Mr Pai said ''as a part of our HR policies, Infosys believes in providing adequate life, accident and medical insurance cover to its employees as a holistic measure.'' LIC Managing Director Thomas Mathew said this was the country's largest ever Group Policy at Rs 24,000 crore. LIC has won the confidence of the public in general and the corporate world in particular, in taking care of their insurance needs and managing their funds.

He said in 2007-08 LIC registered a new business premium income of Rs 43812.86 crore showing a growth of 10.80 per cent over the previous year's growth.

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