Policyholders can insure their life as well as protect their money
IndiaFirst Life Insurance has launched Money Balance Plan which offers life coverage and in addition helps policyholders earn secure returns on the money that they invest.
Speaking to Cafemutual, P. Nandagopal, Managing Director and CEO, IndiaFirst Life Insurance said, “Our ‘automatic trigger based' investment strategy will help customers be better off whether the market goes up or down. Therefore, the idea is that our money should not only work hard for us; but should also be kept safe for our future needs.”
Under the plan, one's earnings on investment from equity are transferred to debt on a daily basis, if the return is 10 percent or higher, so that one can enjoy the upside of the equity market and also secure the returns on one’s investments. The plan also offers a life cover in case of the life assured’s demise.
Most of the private insurance companies are launching life insurance products with some riders as there is a change in the product basket after IRDA introduced new rule in September 2010. Currently, insurers are focusing on giving their traditional plan a new look.