RRDC, Fortis to provide micro-insurance in Orissa

Microfinance Focus, Sept. 2, 2009: IDBI Fortis Life Insurance has tied up with Regional Rural Development Centre (RRDC) to offer rural consumers the protection of Termsurance Grameen Suraksha in Orissa. IDBI Fortis, in association with RRDC, has already insured 3,440 rural individuals through Termsurance Grameen Suraksha.
IDBI Fortis Life Insurance Company Ltd, which started its commercial operations from March 2008, aims to sell 10,000 Termsurance Grameen Suraksha (TGS) policies in Orissa during the current fiscal.
IDBI Fortis Termsurance Grameen Suraksha is designed for rural customers with four convenient premium slabs of Rs 50, Rs 100, Rs 150 and Rs 200 with corresponding sums assured of Rs 5,000, Rs 10,000, Rs 15,000 and Rs 20,000, said a statement..
“Termsurance Grameen Surakasha can offer financial inclusion to a large number of rural consumers in Orissa that do not have access to extremely essential financial products like Life Insurance. Not only is this good for the families of the insured but it can also offer peace of mind to main bread earners of families who can be insured at very low rates with the help of RRDC” said Mr. Amish Tripathi, National Head – Marketing and Product Management, IDBI Fortis Life Insurance.
Established in 1992, Regional Rural Development Centre (RRDC), has launched its microfinance initiative, Sambandh, in 2006 and is active in community projects in health and hygiene, forest protection, natural resource management, plus agriculture and livestock improvement.

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