Birla Life launches Gold Plus Plan Insurance

Bangalore, June 18: Birla Sun Life Insurance, the pioneer Unit linked Insurance Plans among the private Life Insurers in India, today announced the launch of a new unit linked insurance plan "Gold Plus Plan," aimed at providing opportunity to grow investments for the medium term.

Speaking to newsmen here, Sun Life Financial Country Head Venkatesh Mysore said the new plan was simple and hassle free that helped to balance between protection and savings for those individuals who were looking for short pays. The key benefits of the plan, among others, included shorter liability, flexibility to reduce premium, affordability and tax benefits. The plan offered a convenience of paying for a limited period of three years and flexibility to reduce premium from the second policy year depending on financial situation of the investor. It also offered freedom to invest in as many as seven fund options in varying proportions, he added.

Marketing and Communications Head Anjana Grewal said the BSLI's annualised Premium income stood at Rs 953 crores, The total revenue generated was Rs 1746 crores. The Asset Under Management had crossed Rs 4000 crores as on March 31, 2007. The company maintained the high 13 month premium persistency of 97 per cent and its capital base was Rs 672 crores, she explained.

Replying to a query, she said widening product range to meet the needs of various segments was one of the key strategies during this year.

UNI