Birla Sun Life presents two new Bachat avenues for customers Introduces

Aug. 26, 2010 - PRLog -- Mumbai : Birla Sun Life Insurance Company Ltd., a subsidiary of Aditya Birla Nuvo Ltd. , one of India’s leading life insurance companies, has introduced two new variants to its recently launched ‘Bachat Plan’. The launch of BSLI Bachat (Moneyback) plan and BSLI Bachat (Child) Plan closely follows the launch of Bachat (Endowment) plan in May this year.

The BSLI Bachat Plans enable customers to build a corpus through a regular and systematic savings approach for various life needs. The recently launched BSLI  Bachat (Moneyback) Plan offers the same advantage along with payouts at regular intervals. On the other hand, BSLI Bachat (Child) Plan will enable parents to provide for and protect the child’s future through regular savings.

Commenting on the launch, Mr. Fabien Jeudy, Chief Acturial Officer, Birla Sun Life Insurance said “Our research shows that there is an increased demand for products on the traditional platform that will help consumers save for their long term goals through regular and affordable premiums. Keeping this consumer need in mind we had introduced BSLI Bachat (Endowment) plan for customers who are focused on a lumpsum amount at maturity.” He further adds “This product was very well received by consumers and contributed over 10% of the total sales in the first quarter. This overwhelming response encouraged us to extend this offering for customers who are focused on regular payouts and saving for their child. We are hoping that BSLI Bachat (Money back) and BSLI Bachat (Child) Plan will address these consumer needs effectively”.

Key benefits of BSLI  Bachat (Moneyback) Plan:
•   Growth with regular money back as much as 20% of Monthly Base Premiums every 5th, 10th and 15th policy year
•   Maturity benefit with Bachat additions and Loyalty addition
•   Safety and liquidity of savings
•   Life cover to secure family’s future needs
•   Tax savings – Under Sec 80 C and Section 10 (10D)

Key benefits of BSLI Bachat (Child) Plan:
•   Benefit of receiving Monthly Base Premiums back after 20 years along with Bachat additions and loyalty additions
•   Policy continuance in case of untimely demise of parents
•   Provides double the Sum Assured for a nominal additional premium in case of accidental death
•   Life cover to secure family’s future needs
•   Tax savings – Under Sec 80 C and Section 10 (10D)

About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, one of the leading international financial services organization from Canada.
With an experience of over a decade, BSLI has contributed significantly to the growth and development of the Indian life insurance industry and currently is one of the leading life insurance companies in the country. Enjoying trust of its over 2.3 Million customers, BSLI is known for innovations. BSLI offers a complete range of offerings comprising of protection solutions, children's future solutions, wealth with protection, health and wellness as well as retirement solutions and has an extensive distribution reach over 500 cities through its network of over 600 branches, close to 1,45,000 empanelled advisors and over 700 partnerships with Corporate Agents and Banks. This is well supported by the sound financials that the Company has. The AUM of Birla Sun Life Insurance is close to Rs. 16,000 crs and it has a robust capital base of over Rs. 2450 crs as on March 31, 2010. For more information, please visit www.birlasunlife.com

About Aditya Birla Financial Services Group (ABFSG)
The Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its  verticals, viz life insurance, asset management private equity, NBFC, broking insurance advisory services, wealth management, and distribution.
The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with over 5.5 million customers manages assets worth USD 20 billion approximately and prides itself for having a talent pool of over 16,500 committed employees. ABFSG has its wings spread across more than 500 cities in India through more than 1650 branches and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With over one billion dollar revenue, ABFSG is a significant non bank player and one of the few players who have a top 5 position in both life insurance and mutual funds.
ABFSG is a part of Aditya Birla Nuvo Litd (ABNL), a USD 3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD29 billion Indian business house operating in 25 countries across the globe.
About Sun Life Financial Inc.
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2009, the Sun Life Financial group of companies had total assets under management of $435 billion. For more information please visit www.sunlife.com.

For further media information, contact:
Atul Malikram
9827092823
pr@atulmalikram.in

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