Infosys Technologies on Thursday announced the renewal of the group life insurance policy, covering 97,000 employees, with Life Insurance Corporation of India (LIC).
This is the largest group insurance cover given to any company by LIC in the country as the total sum assured is over Rs 24,000 crore.
Infosys currently covers all its employees with life and accident insurance, with the insurance cover amount ranging between Rs 30 lakh and Rs 1 crore per employee. Of this, the LIC cover varies between Rs 20 lakh and Rs 80 lakh per employee.
While the premium amount was not disclosed, the company will pay around Rs 200 per month at the highest level per employee, Mohandas Pai, member of the board, Infosys said.
