LIC’s "Jeevan Madhur" – a Micro Insurance Product was launched today in the

esteemed presence of Dr. A.P.J. Abdul Kalam, President of India. President was kind enough to hand over policy bonds to the first two policyholders and four NGOs in a colourful function held in Vigyan Bhavan, New Delhi. The function was presided over by Shri P Chidambaram, Hon’ble Union Minister for Finance and attended by Mr. S.S. Palanimanickam Hon’ble Union Minister of State for Revenue. Micro Insurance Product is targeted to cover the low income group and especially those who have no fixed and stable income.

"Jeevan Madhur", is available to both male & female without any medical examination and is a simple saving related life insurance plan covering individuals in the age group of 18 to 60 years. Minimum sum assured under the plan is Rs. 5000 and maximum sum assured is Rs. 30000. Mode of payment of premium can be even weekly/fortnightly in addition to other regular modes to suit the needs of people with low income. Minimum premium is Rs. 25/- per week, Rs. 50/- per fortnight, Rs. 100/- per month which is expected to be well within reach of the targeted group.

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