May 13, 2005 SKS and Life Insurance Corporation of India (LIC) launch largest Group Insurance Scheme in India

Covering over 300,000 people, SKS and LIC introduces the largest Group Insurance Scheme in the country. The scheme will cover all 150,000 SKS clients and their spouses in the case of death. Loans provided by SKS will be written off and principal and interest paid will be returned to the client�s family. This is the first of its kind scheme for the country and another milestone for microinsurance. LIC is aggressively looking to expand its services to the rural poor and partnerships with organizations like SKS will continue to make that possible.

The Executive Director for LIC, Sri R. Venugopal and Senior Divisional Manager, Sri P. Satyanandam were present for the occasion and SKS executives, Chidambar Rao and Sitaram Rao, inaugurated the scheme by handing over the first check for the policy.



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