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LIC is planning to launch a product specifically designed for rural areas to achieve 'Insurance For All by 2047'. The product will consist of life, health, and property insurance, with a women-centric distribution channel model. The IRDAI has proposed guidelines for 'Bima Vahaks', which seek to establish a dedicated distribution channel at the level of Gram Panchayats.
'The focus would be how to cover maximum rural masses who actually need insurance'
(This story has not been edited by THE WEEK and is auto-generated from a PTI
As part of its Mission 2047 'Insurance for All', IRDAI is planning to launch Bima Trinity - Bima Sugam, Bima Vistar, Bima Vaahaks – in collaboration with general and life insurance firms.
Insurance Regulator in India (IRDAI) is leading the insurance growth and penetration