IndiaFirst Life launches Mahajeevan Plus Plan

It thereby takes care of an individual’s liquidity needs through multiple money backs during the policy term. It also allows utilizing money-back options to fund the next annual premium, as needed.

Mumbai: IndiaFirst Life Insurance Company Limited (IndiaFirst Life), promoted by Bank of Baroda and Union Bank of India, has today announced the launch of IndiaFirst Life Mahajeevan Plus Plan. This non-linked, participating, individual, limited pay, money back endowment life insurance policy protects for a longer term of 15 to 20 years just by providing a shorter pay commitment of 12 years. It thereby takes care of an individual’s liquidity needs through multiple money backs during the policy term. It also allows utilizing money-back options to fund the next annual premium, as needed. The policyholder will get Maturity Benefit and accrued Simple Reversionary Bonus declared annually and Terminal Bonus if declared, at the end of the policy term.

Commenting on the launch, Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company Limited said, “In line with our vision of ensuring certainties through every walk of life, we are pleased to announce the launch of IndiaFirst Life Mahajeevan Plus Plan – an enhanced version of our long-standing best-seller, IndiaFirst Life Mahajeevan Plan. With this new, improved 3-in-1 plan customers can wisely plan for their growing financial needs with the assurance of Protection, Savings, and periodic Moneyback.”

IndiaFirst Life offers a diversified suite of 40 need-based offerings (products & riders) catering to varied customer segments, leveraging multiple distribution capabilities, and augmenting various investment options. The company services customers in over 98% of pin-codes across the country.

About IndiaFirst Life Insurance Company Ltd:
Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited (IndiaFirst Life), with a paid-up share capital of INR 663 crores, is one of the country's youngest life insurance companies. It is promoted by two of India's largest public-sector banks – Bank of Baroda and Union Bank of India, which hold 44% and 30% stakes in the company, respectively. Carmel Point Investments India
Private Limited incorporated by Carmel Point Investment Ltd, a body corporate incorporated under the laws of Mauritius and
owned by private equity funds managed by Warburg Pincus LLC, New York, United States also holds a 26% stake in IndiaFirst Life.
The company’s key differentiator is its simple, easy-to-understand products that are fairly priced and efficiently serviced.