Among the private sector insurers, who started their activities during 2000-2001, aviva life insurance . Co had launched an exclusive plan for rural areas called Gram Suraksha. The test marketing results of the Plan in Andhra Pradesh were reportedly encouraging and the company hopes to market the plan through institutions. The law priced policy offers life cover and money back benefits . For broad basing its rural portfolio , Aviva life had opened offices at Faridkot, Nagpur, Nashik and Udaipur, in September 2003, Aviva had also launched customized products called Amar Suraksha and Jana Suraksha .
The term former is a term insurance cover the with return of the premium provision on survival of the selected term., The latter is a fixed term policy available for terms of five years and ten years respectively for the sums assured of Rs. 25,000 or Rs. 50,000 as the case may be. Aviva is confident of utilized the extensive rural network of its Indian partner , Dabur. This was followed by the launch of the Sankat harn Policy by IFFCO-tokio , General insurance Company for farmers, Gramin Bima Yojana, a plan of Kotak mahindra Old Mutual insurance co. Is a plan designed to suit the needs of the rural populace. This single premium endowment plan provides for payments on death or maturity whichever is earlier . The plan has a fixed term of 15 years .
The policy can be surrendered by at any times and the surrender at any the time and the surrender value varies from 90% tp 230% upon the period by for which the policy has remained in the books of the insurer. ICICI Prudential had also launched different types of the policies like ICICI Pru Mitra an endowment type of the plan and ICICI plus Pru Suraksha a regular premium plan to meet the varying needs of the rural populace. HDFC Standard Life markets certain specialized life insurance products for the rural market. Development insurance plan., A group insurance product is being offered by the HDFC Standard life to the rural markets through NGO;s and Bima Bachat Yojana, is another product meany by the rural consumption .
The Birla Sun Life , Bimla Kavach Yojana is a single premium insurance policy specially designed for the rural under privileged. The private insurance companies until the end of the fiscal 2002-2003 could not be make by any perceptible penetration into the rural areas and as the end of the fiscal 200-03, the combined rural life insurance coverage by LIC and private players was around 27% leaving behind a substantial populations to be covered. Both for the public sector and the private insurance companies, distributing products in rural areas poses certain problems . As a agricultural income is presently tax-free in India, in the rural areas tax sops offer no attractions and , as a such the marketing is more individual need -based. Many of the agents for advisors, do not find it profitable to visit the rural areas or distributing limited products, .
To overcome this situations, companies are adopting new strategies, . Some companies resort to mass compaigns by addressing the villagers with the help of the local village head or the Sarpanch . Alternatively, some of the companies tie up with banks having wide rural networks for distributing insurance products, through the Bancassurance route. Some companies enter into tie-up with NGO�s and social organizations facilities. Agencies to offer product in the rural areas. Some of the companies are also drawing are also drawing on the concept of Rural Career Agents or Advisors, which has been pioneered by LIC, in spite of difficulties, unlike in the past fiscals, at the end of the financial year 2003-04, all life insurers had completed their rural and social sector obligations, In the connection a suggestions, of Apparao Machiraju merits examinations.....
0 yorum:
Yorum Gönder