Kolkata : IndiaFirst Life Insurance Company Limited (IndiaFirst Life), unveiled a new product — IndiaFirst Life Guarantee of Life Dreams   plan. The non-linked, non-participating, individual life insurance plan is designed to provide policyholders with a regular long-term income option.

IndiaFirst Life Guarantee of Life Dreams Plan is an extended-term insurance-based savings product, which offers flexible Premium Paying Terms   of 6 years, 8 years, and 10 years for a policy term of 30 years and 40 years. With premium starting from Rs.4,176 per month and with monthly, quarterly, half-yearly and yearly premium paying options, the plan is a convenient option for customers to create a second/additional income.

Commenting on the launch, Rushabh Gandhi, Deputy CEO, IndiaFirst Life Insurance Company Limited, said, “IndiaFirst Life is proud to present the transformative IndiaFirst Life Guarantee of Life Dreams (G.O.L.D.) plan. Going beyond traditional insurance, G.O.L.D. will empower our customers to plan a long-term income as per their need. Unlike most other plans where returns are received after a few years, the highlight of this product is that one can plan to receive future income from the end of first month itself. This, along with its other features is expected to make G.O.L.D. a compelling proposition for customers who want a guaranteed tax-free income as a holistic solution to their insurance and investment needs.”

IndiaFirst Life Guarantee of Life Dreams Plan offers three distinct income options:

1.               Immediate Income Option: This option provides regular increasing income starting as early as the end of first policy month, with monthly income payout frequency.

2.               Intermediate Income Option: With this option, policyholders enjoy regular increasing income starting from the end of the fifth policy year.

3.               Deferred Income Option: The Deferred Income Option provides regular increasing income starting from the end of the tenth policy year. Additionally, the plan offers two lump-sum cashback instalments, equal to 50% of the Annualized Premium, at the end of the 3rd policy year and the end of the Premium Paying Term (PPT).

Under all the income options, in addition to income benefits, the plan also provides a lumpsum benefit equal to at least the sum of all premiums payable, as maturity benefit at the end of policy term.

IndiaFirst Life Guarantee of Life Dreams Plan is another addition to IndiaFirst Life’s dynamic portfolio of 50 need-based product offerings (31 Retail, 13 Group, and 06 Riders across retail and group portfolios) catering to varied customer segments. The products complement the company’s wide and deep distribution capabilities across the country.