Max Life Appoints First Batch Of Gram Sahayaks

Max New York Life Insurance Company, a joint venture between Max India and New York Life, today appointed its first batch of gram sahayaks in Gujarat as part of its strategy to reach out to rural areas of the state.

Max New York chief executive officer and managing director Anuroop 'Tony' Singh said the 'easy term policy' offered by the company has been designed to meet the needs of the rural and social sectors. It offers life insurance of up to Rs 10,000 for an annual premium of Rs 100.

The company had already appointed gram sahayaks in Karnataka, Andhra Pradesh and West Bengal and seeks to replicate the successful model in other regions for distribution of life insurance products, he added.

 

Emphasising that gram sahayaks are an integral part of the company's strategy to reach out to the rural markets and educate customers on life insurance, Singh said, "This is a part of our initiative to develop a distribution channel focussed on meeting the needs of the rural sector which is distinct from the needs of the urban markets."

Max New York Life has introduced five life insurance products and seven options that can be customised to over 200 combinations enabling customers to choose the policy that best fits their needs and means. The products include whole life-participating, whole life-non-participating, 5-year term renewable and convertible as well as easy term and 20-year endowment plan.

The seven options are: option to participate in progressive bonuses, guaranteed insurability option, waiver of premiums, term rider, personal accident benefit, dread disease and spouse. All policies come with a free-look offer that allows unconditional return of the money within 10 days from the date of receipt.

The gram sahayaks appointed today in Gujarat by Max New York Life are Bharat Patel, Kamlesh Patel, Jwalit Mehta, Jawer Sisodia and Ketan Patel. All of them belong to rural areas and are well respected in their local communities. These gram sahayaks will have places like Anand, Ahmedabad, Mehsana and Chattral under their charge.