LIC to launch first health insurance product in November
Country's biggest insurance service provider, Life Insurance Corporation of India (LIC), on Friday said it would launch its first health insurance product in November.
By PTI |
MUMBAI: Country's biggest insurance service provider, Life Insurance Corporation of India (LIC), on Friday said it would launch its first health insurance product in November.
"In 15 days, we would file our application before the Insurance Regulatory and Development Authority (IRDA) for necessary approvals," LIC's Health Insurance Division's Executive Director D D Singh told reporters on the sidelines of a conference here.
The Hyderabad-based health insurance company has tied-up with eight third party administrators for processing of claims, he said.
Besides, it has tied up with Syndicate Bank, Axis Bank and Bank of America for claims payout, Singh added.
For distribution of its product, the company would use the services of LIC's wide network, he said, adding that the product would have a unit-linked insurance component built into it.
"In 15 days, we would file our application before the Insurance Regulatory and Development Authority (IRDA) for necessary approvals," LIC's Health Insurance Division's Executive Director D D Singh told reporters on the sidelines of a conference here.
The Hyderabad-based health insurance company has tied-up with eight third party administrators for processing of claims, he said.
Besides, it has tied up with Syndicate Bank, Axis Bank and Bank of America for claims payout, Singh added.
For distribution of its product, the company would use the services of LIC's wide network, he said, adding that the product would have a unit-linked insurance component built into it.
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