Manipal headquartered SyndicateBank has launched Life Insurance Distribution in tie up with Bajaj Allianz. This strategic decision to sell Life Insurance Products is taken to enhance Customer satisfaction.
SyndicateBank and Bajaj are trusted names in Indian Financial scene and Auto Sectors. Customer delight and satisfaction is common ethos of these two institutions.
Launch of Insurance distribution is a part of Bank's strategy to emerge as a One Stop Financial Shop to its multitude of customers by offering a range of Savings, Loan, Life Cover, Income Cover, Risk Cover, Long Term Investment with or without risk cover and also Payment Products. All these add to Customer Convenience and Satisfaction.
Insurance Business is a seamless add to Commercial Banking Business and Total Synergy more particularly of service between these two Businesses. This is a huge opportunity for SyndicateBank, which would translate benefits to its customers. This tie up makes it easy for Customers to buy Insurance Products.
The Product were launched from 11 branches initially and now are marketed by all branches of the Bank.
1
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INVESTGAIN
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Saving cum protection plan, which gives a lump sum at the end of policy term. Plan offers high protection going up to 2 times the basic Sum Assured. A host of additional benefits for best value of life.
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2
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CASHGAIN
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A unique participating Money Back Plan that offers quadruple protection. A cash payout is made every 1/5th of term ensuring receipt of money more frequently. A host of additional benefits to provide extra protection.
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3
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CHILDGAIN
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A participating Endowment Plan to suit children's needs be it education, marriage, etc. Payment of premium limited till age 18 of the child. Attractive family income benefit to sustain the family.
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4
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RISKCARE
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Pure Term Insurance Plan providing protection of life at very economical rates.
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5
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TERMCARE
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A term Insurance Plan which covers risk of life with a provision of return of premiums paid at maturity.
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6
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LIFETIMECARE
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A whole of life plan with minimum guarantee on death or on survival at age 80 whichever is earlier. Ideal for young people to build a savings habit.
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7
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SWARNA-VISHRANTI
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A participating retirement capital building pension plan with life care for enjoying life after retirement.
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8
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UNITGAIN
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An investment plan with regular and single premium investment linked life insurance. Major part of premium invested in units to reap maximum returns.
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9
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LOAN PROTECTOR
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A mortgage term insurance plan that covers the outstanding liability of the housing loan.
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10
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SYNDDRIVER
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Group Insurance Scheme for Drivers and Assistants of Heavy and Light Commercial Vehicles
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11
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SYNDSURAKSHA
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A Group Life Insurance Cover for SB A/c holders of CBS Branches.
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Download Forms for - SyndDriver and SyndSuraksha Schemes
All Plans / Products offer following additional benefits:
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(a) Accidental death |
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(b) Total / Partial Disability |
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(c) Critical Illness |
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(d) Hospital Cash |
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(e) Waiver of premium |
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(f) Family Income benefits |
ISSUE AGE: Issue age of the policyholder is calculated as age attained (i.e. last birthday). Age at entry vary from 0 to 65 years depending upon the packages.
PREMIUM AMOUNT:
Premium payment is calculated depending on the age of the policyholder, term of the policy, frequency of premium payment term etc.
The basic premium for a female policyholder is equivalent premium for a two-year younger male policyholder for the base policy only.
Premium discount is available for all policies @ Rs.84/- to Rs. 96/- per Rs.10000/-where the Sum Assured exceed Rs.50000/-.
BONUS: Compound Reversionary Bonus is payable including terminal bonus on maturity.
TAX IMPLICATIONS: Premiums paid are eligible for tax deduction under Section 80C of the Income Tax Act. Maturity & death benefit will be tax free under Section 10(10) D.
SOURCING APPLICATIONS:
All branches of the Bank.
INSURANCE EXECUTIVES FOR CONTACT:
Corporate Insurance Executive: Mr. D Raja Narasaiya at Corporate Office, Bangalore
Telephone:080-23368249 (O)
98458-39591 (Mobile)
94498-60169 (Mobile)
INSURANCE MANAGERS:
Ahmedabad - Mr Devraj Patel (Phone 93270-13909)
Bangalore - Mr.N Guruprakash (Phone: 94483-53563)
Chennai - Mr. S Balasubramaniam (Phone: 94444-00325)
New Delhi - Mr. N K Kapur (Phone: 93508-60461)
Mumbai - Mr. K Sudakar (Phone: 93238-04588)
Kolkata - Mr. S K Das (Phone: 98306-60928)
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