For the convenience of the senior citizens, the General Insurance Council is working on portable medical insurance product for senior citizens. 

SBI Life Insurance, the third largest private life insurance company in the country has launched its first group health insurance plan "Criti9" for State Bank Group customers, to provide a superior health insurance option.

The newly introduced policy will be available for State Bank Group account holders aged 18 to 55 years, with maximum cover ceasing age being 65.

Life Insurance Corporation of India (LIC), the largest life insurance company in India, has entered into an agreement with state-owned Corporation Bank to launch credit cards in the country.

LIC intends to launch the business through its wholly owned subsidiary, LIC Cards Services Limited, which will manage all aspects of its credit card venture. The company already has taken approval from Government of India to form a wholly owned company for this purpose.

New York - Maurice Greenberg, a major AIG shareholder who founded and led the insurance giant American Insurance Group until 2006, says the terms of the 123-billion-dollar US government bail-out are unfair and could lead to destruction of the company.

In a letter posted Tuesday at the Securities Exchange Commission, Greenberg pushed AIG chief Edward Liddy to renegotiate the deal with the government.