IOA provides life insurance cover of Rs 1 cr
Source: The Sangai Express / PTI
Imphal, April 24 2016:
NEW DELHI, Apr 24
In a first of its kind move, the
Olympics-bound Indian
athletes were on Saturday
presented life insurance cover
worth Rs one crore even as the
Indian Olympic Association
roped in three sponsors in its
quest for financial
independence.
Edelweiss Tokio Life In-
surance of financial
conglomerate Edelweiss
Group, which will be the prin-
cipal sponsor of the Indian
contingent at Rio Olympics,
today offered a life Insurance
cover of Rs 1 crore for each
athlete representing India at the
Rio Olympics.
"We are happy to announce
that each of the athletes who
will represent India in Rio
Olympics will be given a life
insurance cover of Rs 1 crore,"
Edelweiss Financial Services
Executive Director Rujan
Panjwani said at an event to
announce Bollywood actor
Salman Khan as brand ambas-
sador of the Indian contingent
for Rio Olympics.
IOA Secre-
tary General Rajeev Mehta
hoped that the Edelweiss
Group will continue to pro-
vide the life insurance cover to
future Olympics also.
"We have discussed this
(life insurance for future Ol-
ympians) and they are positive
about this.
I hope they con-
tinue to provide life insurance
cover to Indian athletes in fu-
ture Olympics," Mehta told
PTI.
Besides Edelweiss,
which will be the principal
sponsor, the IOA also roped
in sporting goods company Li
Ning as the apparel partner
and Herba Life as the nutrition
partner.
"We have roped in
three sponsors for the Indian
Olympic contingent.
This has
set the ball rolling in our quest
for the financial independence
of the IOA and to sell IOA as
a brand.
This will allow the
IOA to realise its dream of
giving more funds to the
NSFs and the athletes so that
they can win more medals in
the Olympics," IOA President
N Ramachandran said.
IOA's official marketing
agency IOS Sports and Enter-
tainment helped it in finding
the official partners.