LIC chief says decision on health insurance soon

Life Insurance Corporation (LIC) will take a decision on entering the health insurance sector soon.

A K Shukla, chairman of LIC, told reporters at a press meet here that Insurance Regulatory and Development Authority (IRDA) was yet to permit LIC to enter the health insurance sector.

"We expect to get the permission soon. We have constituted a committee to look into the modalities of entering the health insurance sector," he added.

LIC was also exploring the possibility of entering the credit card business. It had engaged the services of KPMG to go into the details, Shukla said, adding the entry into the sector was basically to help its policy holders and its marketting team.