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Concerned State : Arunachal Pradesh
Concerned Department : Department of Cooperative Societies
Title of Announcement : MoU between Apex Bank and LIC
Concerned Date :
09 / 05 / 2015
Details :
A Memorandum of Understanding (MoU) was signed between Life Insurance Corporation of India (LIC) and Arunachal Pradesh State Co operative Apex Bank Ltd. at Jorhat divisional office of the LIC on May 8. The MoU will facilitate the bank to give insurance coverage to its savings bank account holders under Prime Minister Jeevan Jyoti Bima Yojana (PMJJBY) to be launched by Prime Minister at Kolkata on May 9.
Managing Director of Apex Bank Tsering Thongdok signed the MoU on behalf of the Bank while Senior Divisional Manager, LIC, Jorhat Divisional Office, Biplob Toi signed the MoU on LICís behalf in presence of officials from both the parties.
Apex Bank has 35 branches all over the state and the account holders of even the most remote village will now get life insurance coverage under the GoI Scheme through Apex Bank at a very low cost.
The senior divisional officer of LIC Toi offered all possible help to the Apex Bank in implementing the scheme successfully.
The Managing Director of the Apex Bank expressed his sincere thanks to LIC for giving them an opportunity to offer insurance coverage to their account holders.
Under the PMJJBY scheme, a person will be eligible for Life Insurance coverage of Rs. 2 lakhs by paying a premium of Rs. 330 annually. The scheme can be renewed every year and anybody enrolled with the scheme before May 31, 2015 will be eligible for insurance cover from June 1 2015 to May 31, 2016.
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