Mumbai: Tata AIG Life Insurance Companys rural programme has accounted for around 11 per cent of all life policies sold by the company for the year ended March 2002, as against the stipulated minimum of 5 per cent.
The company has undertaken a pilot programme for rural insurance in Tamil Nadu, which has also been extended to rural markets in Kerala and Karnataka. Plans are also under way to cover Andhra Pradesh and the entire region of four southern states in the months ahead.
Our rural life insurance programme is targeted at all income levels in the rural sector. The myth that the rural poor are not insurable is being challenged with the introduction of affordable products specifically designed to meet the needs of the target market, says Tata AIG Life managing director Ian Watts.
The rural programme of Tata AIG was targeted to create an asset for the rural poor in the form of hedging their economic loss in the event of an untimely loss of an earning member.