Madurai: IFFCO-TOKIO General Insurance has plans to take its new micro insurance product – Janata Bima Yojana – across Tamil Nadu in two years, according to N.K. Kedia, Director (Marketing).
The new product, at an affordable premium of Rs 100, provided for property and critical illness cover of Rs 10,000 each for a couple in the 18-60 year age group.
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The aim is to empower the masses to protect themselves financially. No other insurance policy provided for critical illness, he told Business Line at Kandanur in Sivagangai district where the product was launched by the Union Finance Minister, P. Chidambaram, on Sunday.
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He also said that the policy has been introduced in the State for the first time and that the policy would be promoted through self-help groups as the only micro insurance agents.
Already, 45 groups have been trained and all the 30 districts in the State would be covered in two years, he added.
