Cut in group premium insurance

[CHANDIGARH, May 19] The Life Insurance Corporation has decided to reduce the premium on group insurance by 25 to 30 per cent from June 1 this year, its Chairman, Mr. T.A. Pai, told a news conference

[CHANDIGARH, May 19] The Life Insurance Corporation has decided to reduce the premium on group insurance by 25 to 30 per cent from June 1 this year, its Chairman, Mr. T.A. Pai, told a news conference here to-day. He said the idea was to make group insurance “as attractive as possible”. But he made it clear that premium on individual life policies would not be lowered. Mr. Pai said the L.I.C. was also studying the possibility of introducing a group war risk insurance scheme for the defence forces. The scheme would cover personnel of the three arms of the defence forces, the Army, Air Force and Navy. The Government would have to underwrite the scheme, he said.