IndiaFirst Life introduces endowment scheme, ‘Saral Bachat Bima’

“IndiaFirst Life Saral Bachat Bima Yojana is a competitively priced plan that helps you save for your future financial needs. It secures the future of your family in case of any unfortunate event. In addition, it offers annual guaranteed addition, additional accidental death benefit in the first year, funeral cover without any medical tests, and quick processing all under one roof. Wisely protecting the investment needs of the family, the plan offers Sum Assured on Maturity and Guaranteed Additional Amount accrued on the date of maturity. Tax benefits can be availed as per the existing income tax laws,” the insurer said in a statement.

Rushab Gandhi, Deputy Chief Executive, IndiaFirst Life Insurance said, “This simplified product offers the dual benefit of protection and savings. It is primarily designed for customers of Regional Rural Banks (RRBs) and rural branches which offer simple and affordable benefits. Prefer easy to understand products that can be availed through a “simple” hassle free process.

Rural/RRB customers can buy the product through simple OTC process.

Main idea:

Pay for short term and enjoy long term benefits

Consistent protection through insurance cover

Additional Sum Assured 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

Boost savings with guaranteed additional benefits of 4.75% to 6% per annum

Flexibility to receive death benefit as a lump sum or regular income for 5 years

Option to opt for Waiver of Premium Rider

No medical test and short application form

IndiaFirst Life also offers a diverse suite of 45 need-based offerings to cater to diverse customer segments, leverage diversified distribution capabilities and enhance various investment options.