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LIC expanding business spectrum with health insurance and credit cards

Life Insurance Corp or India (LIC) is consolidating its business in such a way that it's presence is felt in the entire financial services spectrum. The corporation is finalising its credit card business venture with GE Money and also launching a health l

Apnaloan.com Research Bureau

26 Oct 2007

Life Insurance Corp or India (LIC) is consolidating its business in such a way that it's presence is felt in the entire financial services spectrum. The corporation is finalising its credit card business venture with GE Money and also launching a health life insurance policy. 

T S Vijayan, chairman, LIC, announced this at the launch of a critical illness rider for group insurance policies. The product, he said, will be launched by this year end. He said LIC has filed the health cover product with the Insurance Regulatory and Development Authority (IRDA) and expects a green signal anytime now.

The life insurer is also signing referral agreements with several banks. In such an arrangement, an insurer gets customer leads from a bank.