India's largest lender, State Bank of India's subsidiary- SBI Life is planning to come up with series of new Plans for saving, pension and protection forum.
SBI Life in a statement said that the plans have been filed for approval with Insurance Regulatory and Development Authority (IRDA).
Managing Director and Chief Executive of SBI Life, Atanu Sen said, "We would shortly be launching four new products, subsequent to IRDA approval. These plans include a family income protection plan, a monthly income savings plan, a traditional pension plan and a market linked plan (ULIP) targeting young audience."
The upcoming new plans will be available across SBI Life's multi distribution Channels which would also include Bancassurance through State Bank of India branches, institutional alliances and retail agency.
SBI life in FY12-13 has added 39 new branches and employed 14,000 insurance advisors and 2,000 certified insurance facilitators. The company also launched a multi-lingual website and introduced several new products.