SBI Life to soon launch a series of plans

Ludhiana, October 17, 2012:SBI Life, the leading new generation life insurer, will soon be launching a host of plans across savings, protection and pension platforms. The products have been filed with the Insurance Regulatory and Development Authority (IRDA) for approval.

Atanu Sen, MD & CEO, SBI Life said, “Wewould shortly be launching four new products, subsequent to IRDA approval.These plans include a Family Income Protection Plan, a Monthly Income Savings Plan, a Traditional Pension Plan and a Market Linked Plan (ULIP) targeting younger audience. These products will strengthen our existing suite of plans, enabling customers a wide choice of offerings to choose from.”

These products will be available across SBI Life’s multi distribution channels including Bancassurance through State Bank branches, Retail Agency and Institutional Alliances.

Continuing to expand its presence, SBI Life has added 39 new branches and recruited additional 14,000 Insurance Advisors and 2,000 Certified Insurance Facilitators, during this financial year 2012 –13.

During the last financial year, 2011-12, SBI Life introduced several new products designed on variety of need-based platforms. These included Health Insurance – Hospital Cash, Variable Insurance– FlexiSmart, Traditional Savings – Smart Money Back and Immediate Annuity –Annuity Plus. In line with its customer-centric initiatives, the company launched first-of-its kind multi-lingual website across Indian Financial Sector. The multi-lingual website in key nine Indian languages – Hindi, Marathi, Gujarati, Tamil, Telugu, Malayalam, Bengali, Kannada and Punjabi, addresses the latent communication need of large Indian population whose usage of internet is increasing rapidly.