Birla Sun Life Insurance launches 'Gold Plus Plan'

Bangalore, June 18 (UNI) Birla Sun Life Insurance, the pioneer in unit-linked insurance plans among private life insurers in the country, 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 newspersons here, Birla 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 looking for short pays. The key benefits of the plan 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 the financial situation of the investor. It also offered freedom to invest in as many as seven fund options in varying proportions, he added.

Company Marketing and Communications Head Anjana Grewal said its annualised premium income stood at Rs 953 crore and the total revenue generated was Rs 1,746 crore. The Asset Under Management had crossed Rs 4,000 crore as on March 31, 2007. The company maintained a high 13 month premium persistency of 97 per cent and its capital base was Rs 672 crore, she explained.

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

UNI