In a bid to tap different market segments, Reliance Life Insurance Company (RLIC) announced the launch of two new products - Reliance Jan Samriddhi plan and Reliance traditional super invest plan - here Tuesday evening.
“These new products are in line with RLIC's mission to offer a comprehensive range of insurance products to satisfy the needs of our increasing number of customers across all segments,” RLIC president Malay Ghosh told reporters here Tuesday.
“Jan Samriddhi plan is a rural-centric product whereas traditional super invest plan is a regular premium scheme which has been designed to meet the regular savings, protection and income needs of customers,” he said.
Jan Samriddhi plan is a savings-cum-life protection plan with premium instalments, as low as Rs. 50 per month. RLIC plans to target Rs.100 crore premium from this product in 2010 and will be forging partnership with NGOs, cooperative societies and local banks to reach out to people, said a company official.
Mr. Ghosh said Punjab is an important market for the company and both these products will satisfy the needs of this state's residents.
“To cater the increasing demand from Punjab, we have increased our branches here to over 70 by Dec 2009. We have plans to add more branches and to increase the strength of our advisors in the state in the coming months,” he said.