IndiaFirst Life launches Little Champ Plan

PHOTO CAPTION : Ms. Sonia Notani (Chief Strategy Officer, IndiaFirst Life Insurance) &  Mr. Rushabh Gandhi (Director-Sales and Marketing, IndiaFirst Life Insurance) addressing the media during the launch of Little Champ Plan product. A plan benefiting children by way of regular guaranteed payouts for financing the child’s education and securing child’s future. / BY Sachin Murdeshwar (HPN)  

A Plan ensuring Future Financial Needs of Children

Mumbai, November 14, 2017 (HPN) : IndiaFirst Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and Legal and General (UK), today introduced Little Champ - A plan benefiting children by way of regular guaranteed payouts for financing the child’s education and securing child’s future. It is a non–linked, participating, endowment insurance plan which provides comprehensive financial protection for a child.

In an unfortunate event of permanent disability or demise of the parents, IndiaFirst Life Little Champ Plan provides an immediate financial payout, subsequently eliminating the need to pay any future premiums, also, contributing planned payouts at regular intervals, to ensure meeting all financial goals as envisaged, for the child.

Ms R M Vishakha, MD and CEO, IndiaFirst Life Insurance said, “Keeping IndiaFirst Life’s vision of securing lives and creating values in the core, we are delighted to offer this unique insurance plan that ensures guarantee, flexibility and safety for one’s children. With the launch of Little Champ, IndiaFirst Life has a full suite of product offerings across customer segments and needs.”

“It is needless to say that every parent intends to protect and enhance their child’s future and offer the best protection for their children. Translating this thought to our product, IndiaFirst Life Little Champ Plan is designed to aid enhanced financial preparedness amongst customers to secure children’s future.” she added.

Mr Rushabh Gandhi, Director, Sales and Marketing, IndiaFirst Life Insurance said, “The costs of education are spiraling. Yet and rightly so, every parent aspires to provide quality education to their children. The IndiaFirst Life Little Champ Plan helps parents prepare better for financing educational needs of their children.

With higher education becoming more of a norm, the guaranteed pay-out option of up to 8 years makes the plan unique. The other distinguishing features of this plan include assurance of future premiums, bonus accumulation, and life insurance benefits, all making for a perfect blend of elements that promise a safety net for your child’s future, a paramount parental concern.” He added.

Executive Summary of the Plan

Key Features:

• You now have us to be there for your child, even when you may not be. We provide for your planned pay outs even if something untoward were to happen to you.
• We care for your dreams and your loved ones equally; which is why you do not need to pay any future premiums, in case of death of the life assured or Accidental Total Permanent Disability (if opted)
• While we assure you the chosen regular payouts, we also assure you that your loved ones will be taken care of in case of an unfortunate event with the help of a life cover
• You not only secure your child’s future with planned payouts, but can also opt for a monthly income of 5, 10 or 15 years in case of death of the life assured
• Dreams are dynamic and so is our policy which lets you choose from a range of coverage and pay out options as per your need
• We know that falling back on someone can be reassuring; Get this assurance as you choose 101% to 125% of the sum assured as a payout option
• You not only have assured payouts, but also the upside on a bonus that will further add to your payout at maturity of the policy
• You may also stand to get tax benefits for the premiums you pay and benefits you receive as per applicable tax laws

About IndiaFirst Life Insurance

Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, 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 Andhra Bank along with UK's leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today, IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company has garnered over INR 10,858 crore of assets under management as on March 31, 2017.

For details please visit:www.indiafirstlife.com