Birla Sun Life plan for lady tailors

Mumbai: Birla Sun Life Insurance Company (www.birlasunlife.com) has launched its social initiative by providing low-cost life insurance cover to a large group of lady tailors for a group of garment factories.

The Birla Sun Life Social Development Plan is a special one-year programme designed for the socially-underprivileged groups. The plan has a built-in accidental death and dismemberment rider that pays another sum assured in case of death or dismemberment due to accidents.

For the lady tailors group, the premium per annum is economical, as the sum assured is Rs 10,000 each. Each member of the insured group has to nominate one person. New members can join the group during the duration of the plan. Some of the features of the plan are: Easy documentation, simple forms and absolutely no medical tests.

The plan is an ideal cover for social groups that need insurance cover, but cannot afford to pay high premiums. Commenting on its newly-launched social initiative, Birla Sun Life Insurance CEO Nani Javeri said: "The plan is the right product for socially-underprivileged groups that work behind the scenes and are exposed to risks. The plan successfully customises life insurance, according to the needs of a section of our customers."

Last year, Birla Sun Life Insurance had successfully launched its rural initiative, Birla Sun Life Bima Kavach Yojana, insuring over 1,800 lives till date. Birla Sun Life Insurance is the joint venture between the Aditya Birla group and Sun Life Financial, Canada.