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Our Bureau

Chennai , Dec. 4

SBI Life Insurance is to introduce a unit-linked product soon, a move that is expected to reduce its dependence on insurance linked to home loans and the consequent negative implications for growth.

The SBI Life's Chief Marketing Officer, Mr S. Muralidharan, said a unit-linked product would be launched by the end of this month or early January. The policy is to be introduced without the option of a one-time payment of premium.

Currently, about 56 per cent of the company's premium comes through a one-time premium payment because of its dependence on insurance business linked to home loans disbursed by its parent, State Bank of India. Mr Muralidharan said one-time premiums make continued growth more difficult. "Single premium does not generate cash flows for the future," he added.

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