Birla Sun Life Insurance Company Ltd. (BSLI) has launched two microinsurance products aimed at the rural masses and the lower income urban communities in India. The organisation is a joint venture between The Aditya Birla Group, one of the largest business houses in India with a turnover close to Rs.49,440 crores (USD 12 billion) and Sun Life Financial Inc. of Canada, a leading international financial services organisation, with total assets under management of CDN 435 billion (USD 415 billion). The two plans are called Bima Suraksha Super and Bima Dhan Sanchay. The former is a term insurance plan and the latter a term with return of premium insurance plan, offering an additional guarantee of return of premium on maturity. Both Plans offer 3 options of 5, 10 and 15 years for policy tenure with regular premium paying period. The minimum sum assured is Rs.5000 (USD 124) and maximum is Rs.50000 (USD 1,240). Both policies have features designed to facilitate uptake amongst underprivileged communities, such as no medical examination requirement and self-declaration by life insured as proof of age.

Birla Sun Life Insurance increases rural penetration
http://www.indianrayon.com/media/press_releases/200511nov/bsli_rural_penetrarion.htm