Future Generali India Life Insurance plans to come out with a new pension product, its Head of Agency and Alternate Distribution Channel, Vineet Agarwal, told presspersons here recently.

The company already has a retirement plan. A product with two or three variants will be able to cater to different segments. During the next year, the company will focus on pension products. It will have ULIP and traditional plans in this segment, Mr. Agarwal said.

Business premium

In the first nine months of the financial year 2012-2013, the new business premium collected was Rs. 150 crore as against Rs. 350 crore collected during the 12 months of the previous year.

“By the end of March this year, we should be positive. The year-on-year growth in new business premium collected should be positive,” he said.

The next financial year is expected to be a positive year for the company, with double-digit growth, compared to the last two years.

Future Generali India Life Insurance has worked in the rural areas with channel partners. It has also tied up with five banks for bancassurance. The company has 35,000 advisors and plans to recruit another 10,000 this year.