India1st Life Insurance, promoted by Bank of Baroda and Union Bank of India, today announced the launch of its Long Guaranteed Income Plan. This program will guarantee economic stability and provide assured revenue to the loved ones to safe the certainties of life.
The enterprise says, with an aim to give straightforward and assured options, this consumer-centric protection program delivers a steady return to ease the fulfilment of economic objectives although minimising danger.
This non-linked, non-participating, restricted premium, endowment life insurance coverage program gives assured standard revenue to ease the fulfilment of economic objectives. India1st Life gives a diversified suite of 42 want-based offerings such as merchandise and riders catering to varied consumer segments, leveraging numerous distribution capabilities, and augmenting a variety of investment possibilities.
Rushabh Gandhi, Deputy CEO, India1st Life Insurance Company Limited says, “It is always exciting to buy a product that offers a lifetime guarantee. With this ethos in mind, we launched the IndiaFirst Life-Long Guaranteed Income Plan, which guarantees a tax-free income till 99 years of age of the life assured. This multi-generation plan provides guaranteed returns for as long as 59 years to take care of both you and your loved ones.”
India1st Life-Long Guaranteed Income Plan gives protection coverage with two rider possibilities – India1st Term Rider and India1st Life Waiver of Premium Rider, with the assurance of assured lifetime revenue and return of all premiums at the finish of the revenue advantage period. The program also guarantees a continued life cover regardless of missing the payment of a premium.
The program also gives assured extended term advantages by paying for a shorter period to assistance the policyholder’s economic objectives, definite revenue choice for a fixed 20-year period to provide a enhance to way of life demands, the entire of life revenue choice by acquiring assured uninterrupted revenue till 99 years of age, the return of total premiums paid at the finish of the revenue advantage period, the flexibility of death advantage as a lump sum or as standard revenue for 5, 10, or 15 years, along with enhanced protection by availing an choice of adding India1st Term Rider and India1st Life Waiver of Premium Rider.
Purshotam, Chief General Manager – Retail Liabilities, Wealth Management Services, Marketing, NRI Business and Capital Market Division, Bank of Baroda says, “IndiaFirst Life has been on the forefront in bringing about bespoke products and the Life Long Guaranteed Income Plan is a product that provides tax-free guaranteed regular income for a lifetime and beyond. The plan has several best-in-class features that meet customers’ requirements for the long-term.”