“WE CANNOT DEPEND JUST ON UNIT-LINKED PLANS” SAYS LIC

India’s only state-owned life assurer, Life Insurance Corp (LIC), plans to focus more on conventional life policies rather than unit-linked offerings, according to LIC managing director D K Mehrotra, in an interview with locally based newspaper Economic Times. “An insurance company cannot depend only on unit-linked insurance plans. In the previous year (2006-07), because of the stock market wave everybody cashed in on it”, he said. LIC has been gaining most of its revenue from unit-linked plans, but Mr Mehrotra said that “we are looking at repositioning some of the old conventional plans, which were very strong products. In the long run, conventional products have to be focused on”.