SBI Life launches group insurance scheme

BANGALORE: SBI Life Insurance (SBI Life) announced the launch of its Super Suraksha Group Insurance Scheme for deposit account holders of the State Bank of Mysore (SBM) on Friday.

Under this scheme, SBI Life will provide life insurance protection to SBM's MYBANK SURAKSHANA deposit holders.

Talking to the press, U S Roy MD and CEO, SBI Life said, "The innovative product introduction is a demonstration of 'Integrated Bancassurance' approach adopted by SBI Life. This is a step towards developing Life Insurance solutions complimenting banking products enabling ease of sales to our business partners and convenience to customers".

Speaking on the occasion, P P Pattanayak, Managing Director, State Bank of Mysore, said, "The unique product initiative is a value addition to our customers in the form of free protection. In case of any unforeseen circumstances our depositor's nominee will not only receive the fixed deposit amount but also receive the Sum Assured amount under this scheme".

All individual depositors within the age 18-55 years are eligible for "MYBANK SURAKSHANA".