MUMBAI, January13, 2009: Targeting to tap the country's Rs two lakh crore health care industry, Birla Sun Life Insurance (BSLI) has announced the launch of its two plans - BSLI Health Plan and the BSLI Universal Health Plan .This is a national launch across all key centers and states in the country.
"A very small percentage of the population in India is covered by health insurance. However, the current trend is: individuals are becoming more conscious of their health today. In a study of the Asian markets, undertaken by Sun Life Financial-BSLI JV Partner, in India, 64% of the individuals are more conscious of their health today than they were 5 years ago. Studies have shown that 70% of the health care costs are borne by individuals These factors therefore indicate the potential for growth of the health insurance market BSLI health plans have been designed to meet the needs of customers and provide the much needed health protection," said Ms Anjana Grewal – Senior Vice President Head Health Business Birla Sun Life Insurance.
"By introducing health plans, we complete the handshake with our customers because we now cover their needs across a wider spectrum of protection. Birla Sun Life Insurance has led the market with innovation in product design which gives our customers an edge. Once again our health plans are designed to give the extra value to our customers" she said.
Guaranteed Insurability Health Benefit that extends insurance benefits up to the age of 80 years and cover to dependent children or parents with no medical underwriting after that at the initial stage; free medical Second Opinion by Mediguide (World's leading second opinion provider) and fixed benefits on hospitalization/surgery are among the highlights of the BSLI Health Solution bouquet.
The plans also come with tax saving up to Rs. 15,000 on self and up to Rs. 20,000 for individuals with senior citizen parents. BSLI health plans also ensure cashless facility over 5000 Hospitals across India and cover as many as 101 types of surgeries on exercising GIHB. In a unique initiative, the company has come out with a one-family-one-policy concept with flexibility to add new family members. It also guarantees increase in the Sum Assured by 20% after every three years.
Key features:
• Health Plans with cashless facility at 5,000 hospitals pan India
• Health Insurance Plan fully guaranteed for 3 years
• Life Insurance coverage up to the age of 80 yrs
• Tax benefit under section 80D
• Medical Second Opinion facility
• Grace Period of 30 days
• Universal Health Benefit for an individual and his/her family with out-of-pocket health related expenses
• Benefits on hospitalization/surgery are fixed and paid
– Irrespective of actual costs
– In addition to any other health plan
About Aditya Birla Group
The Aditya Birla Group enjoys a leadership position in all the sectors in which it operates. It is anchored by a force of 100,000 employees, belonging to 25 nationalities. Its operations span 25 countries across six continents and are reckoned as India's first multinational corporation. Headquartered in Mumbai, India, over 60 per cent of the Group's revenues flow from our overseas operations. The Group nurtures a work culture where success is built on learning and innovation. The Aditya Birla Group has been adjudged "The Best Employer in India and among the top 20in Asia" by the Hewitt, Economic Times and Wall Street Journal Study 2007.
Aditya Birla Group has a strong presence across various financial services verticals that include fund management, distribution and wealth management, security based lending, insurance broking, private equity and life insurance.
The consolidated revenues from these businesses crossed the US 1 billion dollar mark, in 2007-08. In the first half of 2008-09, the financial services business continued its strong momentum of growth with consolidated revenues crossing Rs. 2,077 crore for the first half, up from Rs. 1,463.97 crore in the corresponding period, last year.
Aditya Birla Financial Services Group has taken another step towards expanding their footprint and financial offering by entering into an agreement with the promoter family of Apollo Sindhoori to acquire a 56% stake in the company. The acquisition will fast track their entry into retail broking and is in keeping with its desire to be a broad based and integrated player, while further strengthening their position as a manufacturer and distributor of value added financial products and solutions.
About Sun Life Financial Inc.
Sun Life Financial Inc. is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Overall, Sun Life has a high quality, diversified investment portfolio with over $100 billion in invested assets as of June 30, 2008. Sun Life's $60billion bond portfolio is highly diversified across 1400 different borrowers around the world and is rated 97% investment grade. Globally, Sun Life is in a solid financial position, and maintains financial strength ratings which are amongst the highest of all insurers in North America. Sun Life has a strong balance sheet and is well capitalized beyond minimum requirements. The Company's balanced business model is an important pillar of its overall risk management framework. SLF prides itself on its prudent investment style and strong risk management controls.
About Birla Sun Life Insurance (BSLI)
Birla Sun Life Insurance (BSLI) has been operating for 7 years. It has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. BSLI has covered more than 2 million lives since it commenced operations. And its customer base is spread across more than 1500 towns and cities in India. The company has a capital base of Rs. 1800 crores as on December 31, 2008.The current AUM of Birla Sun Life Insurance stands at Rs. 7161 Crs as on December 31, 2008.
For further information kindly contact:
Ms. Dielnawaz Damania
PR & Corporate Communication
Birla Sun Life Insurance Company Limited,
Tel: 022-6678 3333.
E-mail: dielnawaz.damania@birlasunlife.com
Or
B N Kumar
Concept PR
9321048332, 9320048332
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