The staff of software giant Infosys Technologies, can now enjoy new group insurance policy by LIC. The infosys technology is the second-largest IT/ITES exporter of India with the employee strength of 97,000. All employees of the company would be covered under Rs 24,000 crore insurance policies by LIC. This is the largest ever group insurance by any organisation in India.  

The next of kin of Infosys employer is eligible to get Rs 20 lakh to Rs 80 lakh in the event of death of the employee. There is also a provision of an accident cover of Rs 10 lakh in the policy.

The director-HR of Infosys, TV Mohandas Pai termed it as a historic decision. He said that majority of company employees come from middle income groups of the small towns. The company is committed to provide the adequate life, accident and medical insurance to its employees.

Both companies are in association with each other since 2002. Infosys experienced 35 mortalities in the financial year 2007 and shelled out Rs 8.24 crore insurance sum. The MD of LIC, Thomas Mathew said that the company would like to extend the services to other corporate houses as well. The LIC is already offering group insurance to Hindustan Aeronautics (HAL), Wipro and Singareni Colleries.