IndiaFirst Life Insurance, announced the launch of its IndiaFirst Money Balance Plan.
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The announcement was made by Dr. P. Nandagopal, Managing Director & CEO, IndiaFirst Life Insurance.
“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 our future needs” said Dr. Nandagopal.
Under the plan your earnings on investment from equity are transferred to debt on a daily basis, if the return is 10 percent 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. It also allows you to withdraw partially (after five years) in case of any financial emergency. Under Section 80C you can enjoy Tax Benefits on the premium that you invest. You also get tax benefits on the benefits that you receive on maturity of your plan, under Section 10(10D).
The plan is available across all Bank of Baroda and Andhra Bank branches. It is also available online on LifeStore - www.indiafirstlife.com.
