Premium for the policy is just Re. 1; sum assured is Rs. 50,000
THANJAVUR: IFFCO-Tokyo General Insurance company and Thanjavur Central Co-operative Bank and Kumbakonam Central Co-operative Bank have introduced a new insurance scheme for the jewel loanees of the banks.
The scheme was launched by M. Karunakaran, District Collector (in-charge), at Thanjavur Central Co-operative Bank on Thursday.
K.Venkatesan, Tamil Nadu Manager of IFFCO-Tokyo, K.Shivaji, Regional Joint Registrar of Co-operatives, M.Antony Swamy John Peter, Special Officer of Thanjavur Central Co-operative Bank, were present on the occasion.
Mr. Karunakaran distributed policies to the loanees covered under the scheme. Explaining the scheme, Venkatesan said that the policy period is one year. Premium to be paid is Rs. 15 for the year and the sum assured is Rs.50,000. Policy holders will get the compensation in case of death or loss of organs or total incapacitation.
IFFCO-Tokyo is a joint company of Indian Farmers Fertilisers' Co-operative Ltd (IFFCO) and Tokyo Marine Nichido company. The company has 12 branches and 28 sub branches in Tamil Nadu and has reached 12.4 per cent growth last month. The company has earned a premium of Rs. 1,339 crore in the current year.