Kolkata: Birla Sun Life Insurance Company expects that it's newly launched e-commerce portal as the newest channel for the distribution of its products to the customers.

The portal is available to the customers on the company's existing web site, www.birlasunlife.com. Addressing a press conference here, Nani Javeri, CEO, Birla Sun Life, said this is the first offering of its kind by a life insurance company in India.

To start with, Birla Sun Life is offering the retirement plan (without life cover) and single premium bond to the customers through the website. According to Javeri, this will be followed by the term policy and endowment plan.

While discussing on the new mode of product distribution, he said the company is not forcing the buyers to transact on the Net, but keeping it as another option for them. "In no way this e-commerce portal can replace our advisors."

However, he said, at least 20 per cent of the total sales of retirement plans that take place between December 2003 and March 2004 is likely to place through the e-commerce portal.