Corporation Bank launches group credit life insurance scheme

Mangalore-based mid-sized public sector bank, Corporation Bank has launched ‘group credit life insurance scheme’ of LIC of India in Mangaluru. It has been launched by the Jai Kumar Garg, Managing Director and Chief Executive Officer of Corporation Bank. The scheme has been made available initially at all the branches of Mangaluru zone. It will later be extended to all the branches of the bank.

The scheme is available to customers in the age group of 18-60 years who have taken term loan from the bank. It is a single premium group term insurance plan offering insurance cover to the loan taken by the customer, in the event of death of the borrower. The scheme covers various term loans, including retail loans and loans to MSME and agriculture.

So let’s discuss some questions related to this post:
1. Name the bank which has launched ‘group credit life insurance scheme’ of LIC of India?
2. Where is the headquarter of the Corporation bank and also name the person who is MD of the bank?

Courtesy: The Hindu


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