LIC’s unhealthy choice

Life Insurance Corporation invested more than Rs 3,500 crore last year in the tobacco industry;

Published on:

13 Oct 2011, 1:52 pm

The Life Insurance Corporation (LIC) invested more than Rs 3,500 crore last year in the tobacco industry.

Figures obtained through Right to Information (RTI) by Voice of Victim, an association of mouth cancer victims, doctors and civil society organisations against the use of tobacco, show that in 2010-11, LIC invested in shares of Indian Tobacco Company Limited (ITC),Vazir Sultan Tobacco (VST) Industries and in debentures of Dharampal Satyapal Ltd, which makes chewable tobacco products.

The Life Insurance Corporation invested more than Rs 3,500 crore last year in the tobacco industry
It also invested huge sums of money is two private tobacco manufacturing companies
While selling health insurance policy, the companies have to enquire if an individual is a smoker or a non-smoker
If the person is a smoker, he or she has to pay a higher premium