LIC introduced new Micro Bachat plan
The LIC has been introduced new system like Micro Bachat. Its regional manager Anil Kumar introduced the project at LIC’s South Zone office at Chennai Anna Road.
Under insurance coverage, only Rs 50 lakh was provided to insurance companies for the first time under this Micro Insurance Scheme.
The scheme has been declared for 3 months premium for 3 years and for a period of 5 years in premium paid policies for two years.