IDBI Federal Life Insurance, a joint venture between IDBI Bank, Federal Bank and Ageas, has expanded its portfolio with the launch of four new individual products and three group services.
The four individual plans Incomesurance Guaranteed Money Back Insurance Plan, Lifesurance Savings Insurance Plan, Childsurance Savings Protection Insurance Plan and Wealthsurance Suvidha Growth Insurance Plan.
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The first is a 10-year term guaranteed traditional non-participating money-back plan, while the second is a guaranteed additions, bonuses and accidental death benefit endowment plan.
The third is a participating endowment plan with guaranteed annual payouts and inbuilt waiver of premium, whereas the fourth plan is a unit-linked plan for the first time ULIP customer.
All the four plans are aimed at providing customers with solutions to address their requirements at different life stages.
IDBI Federal Life Insurance CEO Vighnesh Shahane said: "The latest offerings focus on the consumer needs of financial security, savings and growth of investments. The new range of products offers customers a mix of savings, growth of investments and financial protection. We have also built guarantees into all our traditional products to go in line with t he customer need for assured returns."
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By GlobalDataThe company has also released three new group plans including Termsurance Group Insurance Plan, Group Microsurance Insurance Plan and Loansurance Group Insurance Plan.
