Date:15/03/2005 URL: http://www.thehindubusinessline.com/2005/03/15/stories/2005031502410600.htm

Back SBI Life launches `keyman insurance'

Our Bureau

Mumbai , March 14

SBI Life Insurance Company, a joint venture between State Bank of India and Cardif SA of France, on Monday announced the launch of `Keyman Insurance'.

The policy provides protection to key employees.The main objective of the plan is to protect the company's interest by reducing financial consequences due to death of a `Keyman'.

Mr. S. Krishnamurthy, MD and CEO, SBI Life Insurance said, "Keyman Insurance is designed specifically to protect business interests, finances of the company."

It is available in two plans, `Sudarshan', a saving-cum-protection plan and `Shield', a pure protection plan.

The product is available through bancassurance and agency channels. The maximum sum assured under Keyman Insurance for a corporate is based on the average net profit or the average gross profit of the company. A multiple of the individual's remuneration package is also considered.