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Our Bureau

Coimbatore , Oct. 18

THE Coimbatore division of Life Insurance Corporation of India (LIC) has set a premium target of Rs 5 crore on the Jeevan Plus Table No 173 policy on the day of its launch.

Highlighting the salient features of this whole life unit-linked plan, LIC's Senior Divisional Manager, Mr G. Sridharan, said Rs 1 crore had already been collected and the division was confident of hitting the targeted sum in the next few days. "We have set the per-branch target collection at Rs 1 crore," he said.

The division comprises 26 branches covering three districts.

Jeevan Plus is the third unit-linked plan introduced by the corporation, the other being Bima Plus and Future Plus (unveiled in March).

On performance, he said the division garnered Rs 71.77 crore as first premium income up to September 2005, against the targeted Rs 362 crore. "We have registered a 25 per cent growth in the first premium income compared with the earlier year," Mr Sridharan said.

Having collected Rs 82 crore under the Future Plus plan till date, the division is targeting Rs100 crore before the end of this fiscal.

In the area of claim settlement, he said the division has settled over 33,800 claims (inclusive of maturity and death claims) amounting to Rs 69.82 crore.

Under the Green Channel Concept, the division has underwritten/completed 76,554 new business proposals out of 103,860 on the same day, he said.

Reverting to Jeevan Plus, he said, "It is a highly flexible, unique product with options to add-on riders such as critical illness benefit covering 11 major diseases and double accident benefit. The customer has a choice in deciding on the investment (fund) type, quantum of risk and amount of investment. The customer is allowed to top-up (pay additional sums), withdraw partial sums at any point and any number of times. During the launch period, it would be available at Rs 10 per unit."

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