Private life insurer SBI Life Insurance is eyeing treatment of cancer to expand its offerings in the health sector. The company, launching a new term product to meet cancer treatment, said in the next few years, India would the the second biggest country of patients diagnosed with cancer. “The first cancer treatment specific product from SBI Life will be available for persons in the age group between six and 65 years”, Anand Pejawar, president ( operations and international business), told reporters here today. He said that the minimum sum assured was Rs 10,000 and Rs 50,000, he said.
Regarding international business, he said that the company had applied to the regulator in Bahrain to start a branch there. One of the reasons for selecting that country was that SBI has a good presence there with two branches. SBI Life recently got the IRDA approval for its proposed IPO.