IndiaFirst Life Insurance Company Limited (IndiaFirst Life), promoted by Bank of Baroda and Union Bank of India, today launched IndiaFirst Life Fortune Plus Plan. This non-linked, participating, individual life, limited premium savings plan is designed to provide a holistic and long-term safety net for the certainties that define you and also for the certainties that will occur in your life.
Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company Limited said, “IndiaFirst Life’s Fortune Plus Plan is the first ‘Cash Bonus’ plan in our innovative product suite. In line with our #CustomerFirst philosophy, the plan gives our customers the flexibility to encash the cash bonuses. Alternatively, the customer can accumulate these bonuses and earn additional interest on them. This product is especially suited for those who want to retain the option of having additional liquidity during the policy term.”
Manas Ranjan Biswal, Executive Director, Union Bank of India said, “IndiaFirst Life offers a wide range of holistic life insurance products for our customers. With IndiaFirst Life Fortune Plus Plan, our customers will enjoy the benefits of a life cover throughout the policy term, guaranteed survival benefit and cash bonus. They will also have the flexibility to accumulate survival benefit that commences post PPT and earn additional interest on it. IndiaFirst Life Fortune Plus Plan echoes our commitment in catering to the needs of our #CustomerFirst.”
IndiaFirst Life’s Fortune Plus Plan offers dual benefit of life cover and savings, to meet life’s contingencies through a regular income. The plan is available for ages 01 month to 60 years, with the maximum age at maturity being 80 years. Individuals can pay premium on a monthly, quarterly, half-yearly, or annual basis. The survival benefit starts immediately at the end of the premium payment term. Customers also have the option to add Waiver of Premium Rider to their policy, to secure their loved ones from the burden of paying future premiums, in case of an eventuality. Unlike the traditional reversionary bonuses, which get accumulated in the policy and are usually paid along with maturity / death / surrender benefit, this product allows you to encash your bonuses during the policy term.
IndiaFirst Life offers a diversified suite of 45 need-based offerings (products & riders) catering to diverse customer segments, leveraging multiple distribution capabilities, and augmenting various investment options. The company services customers in over 98% pin-codes across the country.