Janta Bima Yojna Tamil Nadu

Karaikudi, 2nd November 2008: Union Finance Minister Mr. P. Chidambaram today launched IFFCO-TOKIO’s Micro Insurance Product - ‘Janata Bima Yojna’, - Chinta ki kya baat hai, jab Janata bima saath hai, Choti kimat badi Suraksha at Kanadanur, Tamil Nadu. The policy has already been launched in Karnataka, Uttar Pradesh, Gujarat, Rajasthan, West Bengal, and Andhra Pradesh and will subsequently be launched in other parts of the country as well.

The policy extends coverage under two sections - Property cover (Householder’s content only) and Critical Illness cover (Paralytic Stroke, Cancer, Coronary Artery Disease, Major injuries, Coma) with a sum of Rs 10,000 assured in both cases. Janata Bima Yojna is aimed at empowering the masses to protect themselves financially and is available at an extremely affordable premium of Rs 100 (for a couple, including taxes) to the rural population and cover people in the age group of 18-60 years. Children can also be included in the policy with an additional premium of Rs 25 per child.

Mr. Chidambaram also distributed Micro Agent Licenses to Cooperative Societies and Self Help Groups during the course of the meeting. These Societies and Self Help Groups have been trained by IFFCO-Tokio General Insurance for selling and servicing of Micro Insurance Products.

Mr. K. Srinivas Gowda, Chairman, IFFCO TOKIO General Insurance Co. Ltd also announced the opening of an IFFCO-Tokio General Insurance office at Karaikudi for servicing the people of the area.

Speaking on the occasion Mr. N.K. Kedia, Director of Marketing, IFFCO TOKIO General Insurance Co. Ltd, said, “Opening of an Office at Karaikudi, launching of Janata Bima Yojana and creating a pool of microinsurance agents is part of the master plan for extending our services in Tamil Nadu, which is a very important region for us.”

IFFCO Tokio General Insurance has been known for its unique rural-market focused initiatives. The company has been serving the farming community, since 2001, when it launched its specially designed personal accident policy linked with the purchase of fertilizer, named Sankat Haran under the slogan Khad toh Khad Bima Saath. To date 7855 claims amounting to Rs, 46.28 Crores have been settled across 17 states. In Tamil Nadu, 67 claims amounting to Rs 31 lacs have been settled to date. The policy is provided free to farmers by IFFCO on the purchase of fertilizer.

In its commitment towards better customer service, IFFCO Tokio General Insurance has been rated No. 1 is Motor Insurance Customer Satisfaction and No. 2 in Home Insurance by an independent agency Consumer VOICE. In addition, Maruti Suzuki has awarded IFFCO-Tokio as THE BEST SERVICE PROVIDER.

About IFFCO TOKIO General Insurance Co. Ltd.

IFFCO-Tokio General Insurance is a joint venture promoted by Indian Farmers Fertiliser Co-operative (IFFCO) and its associates and The Tokio Marine and Nichido Fire, the largest insurance company in Japan. The Indian promoter’s contribution is 74 percent, while Tokio Marine has contributed 26 percent through group company Tokio Marine Asia Pte Ltd.

IFFCO Tokio General Insurance has a widespread network of more than 170 offices across the country and many more in the pipeline for the coming year. The objective behind opening new offices is to cover the enormous spread of the country and reach the masses.