Gujarat State Cooperative Bank, a scheduled bank of the state will sell accidental insurance policy to farmers and account holders of cooperative banks through urban banks, peoples’ cooperative banks and agricultural cooperative societies, says Business Standard.
The bank is planning to sell over 100,000 policies in the first year of launching, claims Ajay Patel chairman of the bank.
It had launched health insurance last year, but as benefits were limited, the response was very poor from farmers and account holders of cooperative banks.
After that experience, the bank had decided to launch a new policy with accidental cover with treatment facility in corporate hospitals.