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IndiaFirst Life Insurance, a joint venture between two of India's largest public sector banks - Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal & General, launched the IndiaFirst Smart Save Plan and the IndiaFirst Young India Plan - two new unit linked products based as per the new IRDA guidelines.
“We have always aimed to provide our customers with the best of products and services at a fair price. Our new products will help cater to the diverse needs of customers across different segments for long term protection coupled with wealth creation. We aim to address the diverse needs of our customers through a comprehensive product range,” said Dr. Nandagopal, Managing Director & CEO, IndiaFirst Life Insurance.
The IndiaFirst Smart Save Plan and IndiaFirst Young India Plan come with enhanced features such as benefits of higher protection, multiple investment options across 5 different funds, lower charges, convenient partial withdrawals, switching & premium redirection, loan and portability facilities amongst others.
“We will be launching more new products in the next two-three months. The new products will be a mix of ULIP, health and traditional products,” added Dr. Nandagopal.
The company has already activated all 4500 bank branches and plans to strengthen its distribution network by launching its alternate channels shortly.
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