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LIC Jeevan Madhur to target urban poor in East Zone

LIC plans to focus on the east zone with regards to Jeevan Madhur, its micro insurance policy. It will try and bring the hitherto untouched urban poor population under insurance cover.

Apnainsurance.com Research Bureau

11 Jul 2008

Life insurance Corporation of India (LIC) plans to focus on the east zone with regards to Jeevan Madhur, its micro insurance policy. It will try and bring the hitherto untouched urban poor population under insurance cover.

LIC is trying to seek help from all Non-Governmental Organizations (NGOs), self-help groups, and other micro finance institutions associated with them, for this scheme. The company wants to target sweepers, vegetable vendors, rickshaw and bus drivers, conductors, labour groups, dhobis, and such like. The company aims to sell 50,000-60,000 Jeevan Madhur policies in east zone cities this year.

To this end, LIC East Zone plans to add 100 new agents in each of its 11 divisions to boost sales, with their targets ramped up to 1000 policies; on an average, each agent had sold 235 policies last year.

Currently, LIC's south zone leads in micro insurance penetration, with maximum number of micro insurance policies sold, with the east zone coming in second.



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