New IndiaFirst life insurance plan: get protection for 12 or 15 years by paying only 5 or 7 years

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Life insurance is a contract with fixed terms and conditions, including the premium due date and policy renewal dates.

IndiaFirst Life Insurance Company Limited introduced IndiaFirst Life Saral Bachat Bima plan to provide savings and protection coverage for the whole family. It is an individual, limited-premium, untied, non-participating contract that provides for a shorter payout commitment of five or seven years while protecting the insured and their entire family for 12 or 15 years.

IndiaFirst Life Saral Bachat Bima Plan aims to ensure the future of the insured’s family in the event of an unfortunate event. The plan also offers guaranteed additions each year, an additional accidental death benefit for the first year, no-medical funeral coverage, and prompt treatment all under one roof.

The plan provides for the sum insured at maturity plus the guaranteed additions accumulated at the maturity date. Tax benefits can be availed in accordance with applicable income tax laws.

Commenting on the launch of the plan, Rushabh Gandhi, Deputy Managing Director, IndiaFirst Life Insurance Company Limited, said: “In line with our Customer First ideology, we are delighted to launch IndiaFirst Life Saral Bachat Bima Plan. This simplified, tailor-made product offers the double advantage of protection and economy. It is primarily designed for customers of Regional Rural Banks (RRBs) and Rural Branches who prefer simple, easy-to-understand products that can be used through a hassle-free “Saral” process.

IndiaFirst Life Insurance is promoted by Bank of Baroda and Union Bank of India.

Sanjeev Dobhal, CGM – Rural & Agri Banking, FI, RRB & RSETI, Bank of Baroda, said: “I am delighted that our partner IndiaFirst Life has created a hyper-personalized and easy-to-understand product that meets the specific needs of our customers. rural clients / RRB. They can purchase the product through a streamlined OTC process, which supports their safety, security and monetary needs. I am convinced that thanks to the IndiaFirst Life Saral Bachat Bima plan, the RRB activity will experience exponential growth.

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