LIC's Nagpur dvn makes 150% sales; tops corp sector

The Nagpur division of Life Insurance Corporation of India (LIC) has topped in the country for doing 150 per cent sales in corporate business sector, according to LIC's Senior Divisional Manager P Das Gupta.     

"The division has done a business of Rs 341 crores during first three months (April to June) which was 150 per cent of the target," Das Gupta, said.     

Going by the current trend, the Nagpur division may touch Rs 500 crores in the same sector during the fiscal 2009-10, he added.

Meanwhile, the LIC has launched Jeevan Sathi Plus, a joint market linked plan for the benefit of customers. Claiming to be first of its kind in the industry, LIC has said the Jeevan Sathi Plus was on unit linked insurance policy (ULIP) platform and offers the insured the benefts of markets linked return.     

In its plan, the couple can take the insurance cover for their lives under a single policy. The proposer under the plan shall be called Principal Life Assured (PLA) and other life (wife/husband) shall be called Spouse Life Assured (SLA).     

The minimum annualised premium will be Rs 10,000 increasing thereafter in multiples of Rs 1000. A minimum monthly premium will be Rs 1,000. Alternatively a single premium can be paid subject to a minimum of Rs 40,000, a press release from LIC said.