IndiaFirst Life Insurance Company has launched a new plan ‘IndiaFirst Money Balance’ which is a unit-linked savings plan that helps you invest while limiting your exposure to market fluctuations.
‘IndiaFirst Money Balance’ – Plan Highlights
. First-of-its-kind plan with an ‘Automatic Trigger’ for individual policy accounts
. Provides for automatic balancing of the portfolio as time passes
. Option to pay the premium(s) regularly or for a limited period or through a single payment.
. 52 free switches – helps make the most of market linked investments
. Offers a life cover in case of the life assureds’ unfortunate demise
. Loan facility offered in the first 5 years of the plan
‘IndiaFirst Money Balance’ plan is available across all Bank of Baroda and Andhra Bank branches. Net-savvy customers can buy this insurance plan online as well.
Commenting on the launch of this new plan, Dr P. Nandagopal, Managing Director & CEO of Indiafirst Life Insurance said, “Our IndiaFirst Money Balance Plan offers an insurance cover on your life and additionally helps you earn and secure returns on the money that you invest with us. The idea is that our money should not only work hard for us; but should also be kept safe for your future needs.”
Under this plan, your earnings on investment from equity are transferred to debt on a daily basis, if the return is 10% or higher so that you can enjoy the upside of the equity market and also secure the returns on your investments. This is done using the ‘automatic trigger based’ investment strategy. This helps balance your portfolio and ensures you have a healthy balance of equity and debt as you grow older.
“We believe in constantly making innovations in insurance plans to make it more simple, beneficial and easily accessible for the people. Our IndiaFirst Money Balance Plan is an initiative in the same direction and we are confident that it will be well received by our customers. Our ‘automatic trigger based’ investment strategy will help customers be better off whether the market goes up or down,” adds Dr. Nandagopal.
The plan offers a life cover in case of the life assureds’ unfortunate demise. You can enjoy the benefits of the plan up to 25 years by paying regularly or for a short period of time (limited pay). Alternatively, you can simply choose to pay only once and remain invested for up to 20 years.
You can also take your own investment calls by switching your premiums between funds every week with 52 free switches.
The plan allows easy access to your money by providing you a loan facility during the first 5 years of your plan. After 5 years, in case of a financial emergency, you can make partial withdrawals.
IndiaFirst Life Insurance is a joint venture between 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.
