LIC to extend Infy cover

Life Insurance Corporation (LIC) plans to extend the group insurance cover to another 15,000 techies of Infosys, increasing the sum assured to Rs 7,500 crore.

Infosys has already bought the world's largest group life insurance policy from LIC for its 38,000 employees. The sum assured amounted to Rs 6,000 crore.

"Infosys will be adding 15,000 employees during this fiscal. The amount of the policies will be the highest in the world, based on the number of employees and the high value of the policy," sources from LIC said.

Infosys has been holding a group policy with LIC for four years. The policy commenced in 2002 with a total sum assured of Rs 1,300 crore.