SBI Life launches Grameen Super Suraksha & Grameen Shakti

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SBI Life launches Grameen Super Suraksha & Grameen Shakti

SBI Life Insurance the first life insurer in India to receive the highest financial strength rating of AAA from CRISIL for its superior financial security, has announced its entry into micro insurance with the launch of two new products ‘Grameen Super Suraksha’ and ‘Grameen Shakti’

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SBI Life Insurance the first life insurer in India to receive the highest financial strength rating of AAA from CRISIL for its superior financial security, has announced its entry into micro insurance with the launch of two new products 'Grameen Super   Suraksha' and 'Grameen Shakti'- as part of its vision to protect the lives of a cross section of the socio economic segment of India's  rural and urban population .

SBI Life insuance's Grameen Super Suraksha and Grameen Shakti products have been designed to meet the requirements of the weaker sections of the rural population. SBI Life's micro insurance products is aimed at providing life cover and reducing the  vulnerability of the low-income socio economic strata of rural India with affordable life insurance products

Grameen Super Suraksha is a micro insurance pure term product and Grameen Shakti  is micro insurance product with ROP.

Mr. U. S. Roy, MD & CEO, SBI Life, said: "Insurance had been largely concentrated to urban India but recently insurance has moved to rural India. But   More than 75 % of the Indian population live in villages and above 80 % of this rural population earnings just manage to keep them above the subsistence level and have limited access to life insurance products. Our micro isnurance products are tailored to meet the needs of the larger rural population and enhance the stability and profitability of poor households."

He added, 'sudden death in the family under poverty conditions jeopardizes the future of the entire family. The micro insurance policies offered by SBI Life will help minimize the level of such insecurity.

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