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May 13, 2005 |
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SKS and Life
Insurance Corporation of India (LIC) launch largest Group Insurance
Scheme in India
Hyderabad � Covering over
300,000 people, SKS and LIC introduces the largest Group Insurance
Scheme in the country. The scheme will cover all 150,000 SKS clients
and their spouses in the case of death. Loans provided by SKS will
be written off and principal and interest paid will be returned to
the client�s family. This is the first of its kind scheme for the
country and another milestone for microinsurance. LIC is
aggressively looking to expand its services to the rural poor and
partnerships with organizations like SKS will continue to make that
possible.
The Executive Director for LIC, Sri R. Venugopal and Senior
Divisional Manager, Sri P. Satyanandam were present for the occasion
and SKS executives, Chidambar Rao and Sitaram Rao, inaugurated the
scheme by handing over the first check for the policy. |
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