shriram life:

Shriram Life Insurance is a joint venture between the Shriram Group and the Sanlam Group which provides financial services like chit fund, truck financing, consumer durable financing, stock broking, insurance broking and life insurance.

The company operates through a network of 630 offices across the country with over 30 lacs subscribers and investors for different policies and has the largest force in the private sector with more than 75,000 agents working at numerous locations. For this fiscal year which ended in March 2009, the company earned a profit of some Rupees 8 Crore with a total premium of Rupees 1000 Crore.

The company aims at expanding the business to a new business premium of Rupees 1000 Crore in next three years and increasing the number of offices by incorporating new offices in 100 cities apart from the existing ones.

Shriram Life Insurance made a profit of over Rupees 400 Crore from southern states of India last year and was the sole private life insurance company to record profits in its first three years of functioning.

The company plans to strike Tier-II and Tier-III markets as the growth level of insurance products is low in these areas through the NEW (north-east-west) channel.

SLIC has also launched Shriram Pension Plan - a unit-linked premium plan which provides clients options to invest and receive maximum returns after retirement. Since it is a pension plan, customers will enjoy several tax benefits under section 80CCC of the Income Tax Act.

 Shriram Life Insurance aims to cater different requirements of the Indian society. The Sahara Jan Kalyan group scheme has been devised to provide for life insurance needs of the weaker sections of the country with the inclusion of accident benefit.

The company aims at offering services which will help people invest through easier and advanced process which will be helpful in the long run.