Business

New insurance product launched

THIRUVANANTHAPURAM: IFFCO-TOKIO General Insurance Company launched its product called Janata Bima Yoyana in the State on Tuesday, offering low premium insurance coverage to the rural poor.

This insurance policy covers critical illness such as paralysis, cancer, heart disease, major injuries, falling into a coma etc. and also damage to property in fires, natural calamities. It covers such illnesses and property damages to a sum of Rs.10,000 under both categories against an annual premium of Rs.100 for husband and wife of one family. Children too will get coverage for illness with an additional premium of Rs.25 for each child.

At a press conference, company’s chairman K. Srinivasa Gowda said micro-insurance now reached only a very small share of the rural poor. Each product of IFFCO-TOKIO was designed to fill this lacuna, he said.

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