MUMBAI: IndiaFirst Life Insurance Company has launched a single premium product with a life of 15 to 30 years that aims to provide a cumulative return ranging from 6.3% to 6.7% over many interest rate cycles.
Despite the plan being available from 5-30 years period, the company is focused on selling plans with tenures of 15 years and above to avoid competition with bank fixed deposits as large part of its sales comes from banks including Union Bank of India.
The IndiaFirst Life Guaranteed Single Premium Plan — a nonlinked, non-participating, individual, single premium savings plan offers policy-holders guaranteed returns over up to 30 years. It is aimed at people who want to save for retirement and legacy planning.
