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With the coming festive season of Diwali, customers going slightly easier with their money. During this season, banking and finance companies has a good time to cash in. For cash in, insurance company SBI Life will bring 4 new life insurance products in the segments of saving, pension and protection. The documents for these plans has been landed to IRDA (Insurance Regulatory Development Authority) and waiting for approval. Atanu Sen, MD & CEO, SBI Life, said, "We would shortly be launching four new products, subsequent to IRDA approval. These plans include a family income protection, a monthly income savings, a pension plan and a market linked plan (ULIP) targeting younger audience. These products will strengthen our existing suite of plans, enabling customers a wide choice of offerings to choose from." These products will be available soon in the SBI bank branches, retail agency and institutional alliances. SBI Life has added 39 new branches and recruited additional 14,000 insurance Advisors and 2,000 certified insurance facilitators, during this financial year 2012-13. During the last financial year, 2011-12, SBI Life introduced several new products designed on variety of need-based platforms. These included health insurance-Hospital Cash, Variable Insurance – FlexiSmart, Traditional Savings – Smart Money Back and Immediate Annuity-Annuity Plus.
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