Page 41 - Life Insurance Today June 2015 SAMPLE

Life Insurance
Corporation News
LIC overhauls senior-level
management
Life Insurance Corporation has re-
vamped its senior level management
to improve performance by transfer-
ring as many as 40 executive directors
early this month. This comes against
its normal practice of transferring the
EDs in three years. The transfers were
effected through an internal transfer
order.
Canara Bank signs MOU
with LIC and United India
Insurance
Canara Bank signed a MOU with LIC
of India for offering Pradhan Mantri
Jeevan Jyoti Bima Yojana (PMJJBY) In-
surance cover and United India Insur-
ance Co. Ltd (UIICL) for Pradhan
Mantri Suraksha Bima Yojana (PMSBY)
Insurance cover to all its eligible cus- offer Centre's insurance
tomers.
Allahabad Bank enters
into MOU with LIC
Allahabad Bank signed an MoU with
LIC at the bank's head office Kolkata
on Pradhan Mantri Jeevan Jyoti Yojana
for low cost group life insurance cover
for the depositors of the bank. N. K.
We know that 10 million more people will lose insurance in the next 10 years if we don't act.
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Sahoo ED, Aallahabd Bank and S. C.
Singh regional manager (P&GS), LIC,
Kolkata along with executives of the
bank, S. K. Srivastava, CGM, L. V.
Prabhakar, GM and S. L. Jain, GM
were present.
LIC east bags the All India
2nd position
LIC Eastern Zone has secured the top
position in All India out of eight zones
in respect of growth rate and achieve-
ment in budget as far as procurement
of new policies is concerned. It is All
India No.2 in First Premium collection
respect of growth rate as well as
achievement to budget. In March is
concerned, performance of eastern
zone is 3% above that of the All India
average.
IDBI Bank partners LIC to
scheme
IDBI Bank and Life Insurance Corpora-
tion of India (LIC) have entered into a
memorandum of understanding (MoU)
to implement the Pradhan Mantri
Jeevan Jyoti Bima Yojana (PMJBY) for
savings bank account holders of the
bank. PMJBY was announced by Prime
Minister Narendra Modi to address a
June 2015
societal issue through a social security
system," the bank said in a statement.
PMJBY, a life insurance scheme, is one
of the three schemes announced by
the Government in the Budget for
2015-16. The scheme offers life insur-
ance cover of Rs. 2 lakh to the bank
accountholders in the age group of 18-
50 years at an annual premium of Rs.
330 plus service tax.
The insurance cover will be available
up to 55 years. M.O. Rego, Deputy
Managing Director, IDBI Bank said,
"At IDBI Bank, we have been relent-
lessly working towards connecting
with the masses and catering to their
financial needs. PMJBY is yet another
initiative of the Government towards
inclusive growth.
Mahila Bank inks MoUs
with insurance firms
Bharatiya Mahila Bank Ltd has en-
tered into MoUs with New India Assur-
ance Company Ltd and LIC to provide
insurance cover to its account holders.
The insurance covers are being pro-
vided under the Pradhan Mantri Jan
Suraksha Bima Yojana and the Pradhan
Mantri Jeevanjyoti Bima Yojana
schemes respectively.
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