Birla Sun Life To Increase Distribution Network

Mumbai: Birla Sun Life Insurance expects to grow faster than the insurance industry this year, by increasing its distribution network. The insurance industry is hoped to grow at 50-60 per cent this year and they expect to grow faster than that. The company opened 200 branches, of its existing 337 network in the past four months. The company''s assets under management stand at Rs 5,700 crore as on October 20, 2007. The company unveiled Saral Jeevan Plan, a unit linked insurance plan, which is positioned as an over-the-counter product, for its simplified application process. The product offers a 10, 15 and 20 year term with a cover that goes up to Rs 10 lakh. BSLI also offers a multiplier fund option, which invests predominantly in mid-cap stocks, with an option to infuse 30 per cent in large cap stocks as well.