SBI Jeevan Insurance has entered into a bank assurance agreement with Yes Bank. Under this, Yes Bank will be able to offer life insurance redressal of SBI Jeevan Insurance across the country. Under this partnership, SBI Jeevan's individual and group insurance solutions can be offered to customers of Yes Bank in 28 states and eight union territories. Life insurance products will be easily available to customers due to the large product portfolio of SBI Jeevan and the digital capability and wide presence of the bank.
The agreement in this regard was signed by Rajan Pental, Global Head (Retail Banking) of Yes Bank and Regional Director of SBI Jeevan Insurance - Mumbai Region AVS Sivaramakrishnan. SBI Jeevan Managing Director and Chief Executive Officer Mahesh Kumar Sharma and SBI Jeevan Chairman - Zone 1 Ravi Krishnamurthy were also present on the occasion.
Explain that SBI Jeevan Insurance has a net profit of Rs 144 crore during the quarter ended June 2011, which is 26 percent higher than the same quarter of the previous year. This gave the company a net profit of Rs 114 crore in the same quarter last year. The company said in a release that its total premium income increased by 13 percent to Rs 1,935 crore in the quarter under review. The Managing Director of the company has said that we are committed to making the quality of our products and services consistent with the consumers.
Bharti AXA Introduces New Unit Linked Personal Insurance Plan
Bharti AXA Jeevan Insurance, a joint venture of Bharti Enterprises and XAA, on Monday introduced a new unit linked personal insurance scheme called Bharti AXA Jeevan Wealth Pro. The company said in a statement that under this, more market-based returns have been offered, compared to regular savings, and more security measures have been taken in it. The company said in the statement that new and value-added ULIPs will help customers achieve their financial goals along with financial security for the family.
According to the statement, there are two versions of the scheme - growth and inheritance. In the escalation version, customers can take the policy for ten years, 15 years or 20 years and can pay the premium in lump sum, or for five, seven, 10, 15 or 20 years. Customers who opt for lump sum premium payment will be given more insurance cover. In the legacy version, customers will get more insurance cover.
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