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Cover blown!

Syed Firdaus Ashraf

Tall claim or false report: Amitabh Bachchan

Did Amitabh Bachchan take the biggest insurance policy in the world or not? Worth Rs 1.5 billion as reported? No, says the Life Insurance Corporation, adding that the superstar of the 1970s has not insured himself at all.

H H Faroqui, chief, public relations and publicity, LIC, told Rediff On The NeT, "We have only read in the newspapers that an application was made by the Amitabh Bachchan Corporation Limited... But, as far as we know, there was never any application made by Bachchan." Being the PR, he should know.

Two months ago, reports had appeared in some newspapers, reports that were reproduced here too, that Amitabh Bachchan had become the most insured man in the world and that Bachchan would pay Rs 150 million every year as premium.

That wasn't all. His son, Abhishek Bachchan, who recently acquired an LIC agency, was reportedly the agent who fixed the deal. It was also claimed that he stood to pocket a fat packet of 20 per cent, Rs 30 million.

"Unlike income-tax where the names of the highest income tax-payee are disclosed, the LIC does not follow suit," said Faroqui. "The LIC always make it a point to keep a secret about their operations," he added.

Abhishek, who was claimed to have wangled the world's biggest insurance policy, with father Amitabh

Asked when who had the biggest insurance policy in Bollywood, he said, "It is confidential," he said, claiming it was impossible to dredge through the files to find the details.

The highest policy in the world to date is worth $ 20 million, equivalent to Rs 720 million. And with that AB's claim to insured fame has quietly vanished, much like his much-hyped Mrityudaata.

While there is no reason Abhishek cannot set up an insurance agency -- the licence is singularly undemanding, asking only that a matriculate apply -- the matter of interest now is how ever such a story, in such minute detail, ever got around. That too, just when doubts about ABCL's financial status were rife.

Whatever the cause, it came at the right time to prop up the company's battered image. Darned fortunate, wot?

EARLIER REPORT:
That's rich