Coimbatore, Jan 13: Karur-based Lakshmi Vilas Bank (LVB) on Monday launched the distribution of Aviva Life Insurance products, for which it had signed a Memorandum of Understanding some six months ago. Being the corporate agent for distribution of products of Aviva Life Insurance (a joint venture between Dabur group and CGU), without risk participation, the bank initially launched Easy Life Plus, a savings-cum-protection policy, bank Chairman and Chief Executive Officer A Krishnamoorthy said.

The policy, which does not require medical examination, would be offered at nine selected branches in Tamil Nadu and Andhra Pradesh, he said at the launch function.
It was proposed to extend the coverage to more centres, mainly in the south, after completion of necessary formalities of training and licensing, he said adding the bank had also identified the potential areas and formulated appropriate products tailored to the needs of the target group.
Modalities for covering depositors and Lakshmi Home Loan account holders, under group insurance, were being worked out and marketed across bank's counters, on approval from IRDA, Krishnamoorthy said. Bureau Report