Lakshmi Vilas Bank Offers Life Insurance Products

Thanjavur, Sept 17 | Updated: Sep 18 2003, 05:30am hrs
In collaboration with Aviva, a multinational insurance company, the Lakshmi Vilas Bank has launched life insurance products here.

Launching the scheme on Saturday last, A Krishnamoorthy, chief executive officer of the bank, said the bank introduced insurance schemes along with the multinational company last year.

In Thanjavur the easy life plus scheme was introduced and persons up to the age of 50 could become policy holders under the scheme without medical checkup and without paying taxes. He said the bank started in 1926 was functioning with 215 branches in ten states with a capital of Rs 216 crore. The deposits touched Rs 2,770 crore last year and the profit was Rs 34 crore. Fifty per cent dividend has been distributed to the customers of the bank.

Pointing out that Tamil Nadu enjoyed predominant position in leather, automobile ancillaries, textiles and garments, chemicals and petro-chemicals and agro and food processing industries, the policy said, the government would build on these strengths.