According to Manoj Jain, CEO Shriram Life, out of the seven plans, four products are market-linked and the remaining are traditional products.
"The new products are more customer friendly giving better value proposition in terms of higher surrender values and better death benefits," Jain told reporters here, adding that the new products are in compliance with new guidelines issued by the Insurance Regulatory and Development Authority.
To a query, he said three to four new products are currently in the pipeline with the IRDA for approval. With the launch of new products, the total number of products being offered by the company has gone up to 13.
He said the first nine months' business for Shriram is more or less flat and expected to grow in the fourth quarter.