Birla Sun Life launches 'Gold Plus Plan'
Chennai, Jun 20: Birla Sun Life Insurance (BSLI), pioneer in unit linked insurance plans, today announced launch of "Gold Plus Plan." The new product is an unit linked insurance plan that gives more than a good insurance cover and an opportunity to grow investments for the medium term, Ms Anjana Grewal, Senior Vice-President and Mr Vikram Kotak, Vice-President, Head, Investments, told reporters here.
The Gold Plus plan was a simple, hassle free plan that helps to balance between protection and savings for individuals who were looking for short pays.
The product was based on the consumer research which showed that there was preference for short pays and Gold Plus was developed to meet this market requirements.
The plan gives an opportunity of maximising returns by paying premium as low as Rs 10,000 for a short duration of three years and it offers 100 per cent equity exposure through the new fund option "Maximiser," thus giving maximum returns on limited period investments.
Observing that the short pay market was expected to grow by Rs 2,500 crore, the BSLI was looking to get about ten to 12 per cent out of it from the first year of Gold Plus scheme as it meets the needs of both the middle and higher income groups.
The focus would be on distribution and widening the product range to meet the needs of various market segments and the comapny was planning to add 200 unit offices and branches in the current year to market the product. At present the company has 140 offices and branches.
UNI