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IndiaFirst Life Insurance Company Limited (IndiaFirst Life), promoted by Bank of Baroda and Union Bank of India, has introduced IndiaFirst Life Saral Bachat Bima Plan, a savings and protection cover for the whole family. This individual, limited premium, untied, non-participating policy offers a shorter payout commitment of five or seven years while protecting you and your whole family for 12 or 15 years.
IndiaFirst Life Saral Bachat Bima Plan is a competitively priced plan that helps you save for your future financial needs. It secures the future of your family in the event of an unfortunate event. In addition, it offers guaranteed add-ons each year, additional accidental death benefit in the 1st year, funeral coverage without medical examination and prompt treatment, all under one roof. By wisely protecting the family’s investment needs, the plan provides for an assured amount at maturity as well as guaranteed additions accumulated at the maturity date. Tax benefits can be availed in accordance with applicable income tax laws.
Rushabh Gandhi, Deputy Managing Director, IndiaFirst Life Insurance Company Limited, said: “In line with our #CustomerFirst ideology, we are delighted to launch IndiaFirst Life Saral Bachat Bima Plan. This simplified tailor-made product offers a 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.
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. “
Highlights:
- Pay less and enjoy long-term benefits
- Constant protection for the future of the family thanks to insurance coverage
- Additional Sum Insured, in the event of Accidental Death during the 1st insurance year only
- In the event of the death of the insured, benefit from an advance payment via the funeral cover
- Boost your savings with guaranteed additional benefits from 4.75% to 6% per year
- Flexibility to receive the death benefit as a lump sum or regular income for 5 years
- Option to opt for waiving the Premium rider
- No medical tests and abbreviated application form – a simple and transparent process
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