1. IndiaFirst Life starts micro-cover plan

IndiaFirst Life starts micro-cover plan

In a first, IndiaFirst Life Insurance—a joint venture between Bank of Baroda, Andhra Bank and UK-based Legal and General—on Monday launched a bespoke micro insurance product, mainly targettng customers in the informal sector.

By: | New Delhi | Published: November 28, 2017 4:21 AM
IndiaFirst, IndiaFirst Life, micro-cover plan, Life Insurance, Bank of Baroda, Andhra Bank, micro insurance product In a first, IndiaFirst Life Insurance—a joint venture between Bank of Baroda, Andhra Bank and UK-based Legal and General—on Monday launched a bespoke micro insurance product, mainly targettng customers in the informal sector. (Image: PTI)

In a first, IndiaFirst Life Insurance—a joint venture between Bank of Baroda, Andhra Bank and UK-based Legal and General—on Monday launched a bespoke micro insurance product, mainly targettng customers in the informal sector. The product—IndiaFirst Life CSC Insurance Khata– considers the probability of seasonal incomes of citizens and provides them with the flexibility to pay premium in parts, as and when possible. It factors in possibilities of monetary limitations of people in the informal sector to pay premiums regularly without interruption. So, the plan is designed to return the paid premium amount at the end of the term, while ensuring life insurance coverage, during the term.

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