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LIC cover for Corporation Bank customers

Deposit holders in Corporation Bank are set to get their first tangible benefit from the LIC picking up a strategic 27 stake in the bank's equity.

LIC has launched Corp Jeevan Raksha. This would provide group insurance coverage for the deposit holders — savings bank, fixed deposit and current account — in the 18-55 age group. The scheme offers a cover of Rs 1 lakh against death. This sum will double in the event of death due to accident

The premium for members in the 18-44 age bracket will be Rs 325 per annum and beyond 45 years, Rs 575 per annum. A declaration of good health would suffice and medical examination would not be required.

BL Research Bureau

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