Special Correspondent
VELLORE: The Life Insurance Corporation, Vellore Division, secured the top spot at the all-India level in achieving the sales target during the first quarter of 2007-08, according to M.K. Balakrishnan, Senior Divisional Manager, LIC, Vellore Division.
The sale of its Money Plus product, since the launch of the scheme seven months ago, also went up.
In a release, Mr. Balakrishnan said while 1.50 crore investors throughout the country had invested more than Rs.15,600 crore in the capital market-linked life insurance product of Money Plus, launched on December 20, 2006, LIC Vellore Division has so far sold 2.30 lakh Money Plus policies, collecting Rs.227 crore.
As far as the total sale of other policies in the division during the current financial year was concerned, the division sold 1.82 lakh insurance plans as on date, crossing the figures achieved up to the third quarter of last year, showing a growth rate of 152 per cent.
Rural populace benefited
The Senior Divisional Manager said Money Plus had made it possible for the rural population to participate in the growing economy and stock market and benefit from such investments.
Special arrangements had been made in the branches to issue the policy documents in view of the heavy rush of customers. Customers can invest in Money Plus before August 14, after which the policy will not be available for sale. .
