LICs record new premium income
By Our Banking Bureau | 17 Jan 2002
According to LIC sources, by the end of the fiscal year the corporation is expected to touch the Rs 15,000-crore first premium income a growth of more than 200 per cent as compared to the previous year. The sources also said LIC usually witnessed a growth of 45 per cent in the first premium income in the last quarter of every fiscal.
LIC is also restructuring two of its policies Bima Kiran and Jeevan Shree. It has already discontinued its Jeevan Sneha policy from this year.
Bima Kiran is a term assurance plan that also offers accident cover. Jeevan Shree is a limited payment-endowment assurance plan for high net-worth individuals .The scheme is mainly targeted at professionals and businessmen and also companies that wish to insure key personnel. LIC has been restructuring some of its high-yielding schemes following the decline of interest rates and the drop in return in investments.
