IndiaFirst Life Insurance Company Limited (IndiaFirst Life), a joint venture of Bank of Baroda and Union Bank of India introduced “IndiaFirst Life Saral Bachat Bima Plan”. It is a savings and protection cover plan for the entire family. The plan includes paying for the short term and enjoying long term benefits and it will provide consistent protection through insurance cover.
Benefits of the plan:
- An amount equal to the Sum Assured on Death (SAD) will be paid in case of accidental death during the first policy year. In case of death of the life insured, an advanced payment by way of funeral cover. Flexibility to receive the death benefit as a lump sum or regular income for 5 years.
- Boost savings with guaranteed additional benefits of 4.75% to 6% per annum. Option to opt for Waiver of Premium Rider.
- No medical test and short application form.
Important takeaways for all competitive exams:
- IndiaFirst Life MD & CEO: M. Vishakha;
- IndiaFirst Life Headquarters: Mumbai, Maharashtra;
- IndiaFirst Life Founded: 16 November 2009.