India-based private underwriter Birla Sun Life Insurance has re-introduced a series of five life insurance plans, under the IRDA's new products' guidelines.
The new offerings comprises three non-participating market-linked insurance plans, one participating whole life plan and one traditional participating endowment plan.
BSLI deputy CEO Mayank Bathwal was quoted by the PTI as saying, "These products are designed to emphasise the fundamental propositions of life insurance – protection from uncertainty and long term savings.
"In 2014, we are well poised to build the product portfolio in a phased out manner with focused distribution."
The unit-linked insurance plans (ULIPs) comprise Wealth Max, Wealth Secure and Empower Pension plans whereas Vision LifeIncome is a whole life plan and Vision Endowment Plan is a traditional participating endowment plan.
These policies focus on providing improved security to savings, higher life cover, better surrender values and improved disclosures, in accordance with the revised product guidelines.
BSLI is a joint venture between the Aditya Birla Group and Sun Life Financial.