SBI Life Insurance to launch four new products

SBI Life Insurance 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, “We would shortly be launching four new products, subsequent to IRDA approval. These plans include a family income protection plan, monthly income savings plan, traditional pension plan and 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. 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.