Idea, Birla Sun Life launch term insurance

To tap higher disposable income in the "middle youth" market segment of society, two Aditya Birla group companies have announced the creation of a strategic alliance through the launch of the Group Term Insurance Cover.

Birla Sun Life Insurance, the private life insurer, and Idea Cellular Ltd will offer life insurance at a click of the button. The alliance will also offer value-added services to their individual customer bases.

The strategic alliance has been initiated through the launch of the Group Term Insurance Cover.

"A demographic analysis of our customer base since inception till October indicates that the average age of life insured is about 30 years. The age profile of telecom business customers is young and thus this strategic alliance will assist Birla Sun Life Insurance in developing the life insurance business for the younger age group, said SK Mitra, director, Birla Sun Life Insurance.