Financial Daily from THE HINDU group of publications
Friday, Feb 07, 2003
Financial Daily from THE HINDU group of publications Friday, Feb 07, 2003 |
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Money & Banking
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Life Insurance SBI Life opens branch at Vijayawada Our Bureau
VIJAYAWADA, Feb. 6 SBI Life is concentrating on extending its reach in Andhra Pradesh, especially the coastal belt, and the branch office here will be a one-stop shop for providing insurance services here and the adjoining districts, Mr R. Krishnamurthy, Managing Director and the CEO of the company, has said. After the inauguration of the branch office here on Thursday, he said the company would provide online support to the customers in the region and the policy-holders would be given instant information and quick service. He said the company, a joint venture between the SBI and Cardif SA of France with an authorised capital of Rs 250 crore, had introduced a number of innovative products such as Sudarshan, The Scholar and Super Suraksha. He claimed Sudarshan was "a unique saving cum protection scheme providing an increase of five per cent per annum on the sum insured every year and it had elicited good response in the State. The Scholar was an attractive saving plan enabling accumulation of savings to meet the cost of higher education of a child along with life cover protection to the parent or guardian. Besides, the company was also providing life insurance cover to the housing loan borrowers of the State Bank group and the premium rate was the lowest among all the companies in the field.
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