Mumbai:
Birla Sun Life Insurance Company (www.birlasunlife.com)
has launched its social initiative by providing low-cost
life insurance cover to a large group of lady tailors
for a group of garment factories.
The Birla Sun Life Social Development Plan is a special
one-year programme designed for the socially-underprivileged
groups. The plan has a built-in accidental death and dismemberment
rider that pays another sum assured in case of death or
dismemberment due to accidents.
For the lady tailors group, the premium per annum is economical,
as the sum assured is Rs 10,000 each. Each member of the
insured group has to nominate one person. New members
can join the group during the duration of the plan. Some
of the features of the plan are: Easy documentation, simple
forms and absolutely no medical tests.
The plan is an ideal cover for social groups that need
insurance cover, but cannot afford to pay high premiums.
Commenting on its newly-launched social initiative, Birla
Sun Life Insurance CEO Nani Javeri said: "The plan
is the right product
for socially-underprivileged groups that work behind the
scenes and are exposed to risks. The plan successfully
customises life insurance, according to the needs of a
section of our customers."
Last year, Birla Sun Life Insurance had successfully launched
its rural initiative, Birla Sun Life Bima Kavach Yojana,
insuring over 1,800 lives till date. Birla Sun Life Insurance
is the joint venture between the Aditya Birla group and
Sun Life Financial, Canada.
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