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Kolkata, Aug. 21

SBI Life will shortly launch Dhanaraksha Plus Products, “a sort of umbrella scheme covering a variety of loans such as home loan, car loan and personal loan distributed through a group insurance policy with the lending institution,” Mr Pier-Paolo Dipaolo, Deputy CEO, SBI Life, told newspersons here on Tuesday.

The new products will replace the existing ones in phases. Also, there will be higher loan limit of Rs 30 lakh and both existing and new borrowers will be covered. SBI Life was also planning to introduce a few over-the-counter endowment products, he said. Referring to the low creditor insurance penetration in India at one per cent compared with the global average of 11 per cent, Mr Dipaolo emphasised the need for stepping up training of sales people. –

Our Bureau

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