IndiaFirst Life Insurance Company on Tuesday launched its first micro insurance product - IndiaFirst Life CSC "Insurance Khata" Plan. The policy will be sold via the 200,000 Common Service Centres (CSC) or Jan Seva Kendras, set up across the country for distribution of insurance in rural areas.The policy was launched by Union minister. Insurance Khata, which has been designed especially for the under-served sections of society, considers the probability of seasonal income and provides individuals with the flexibility to pay premium in parts, as and when possible. Taking into account possibilities of monetary limitations of the target segment, the plan is designed to return the paid premium amount at the end of the term, while ensuring life insurance coverage, during the term.
"We are happy to introduce Insurance Khata, illustrating our commitment to bring personal risk protection to all sections of the society. This product is designed for long-term savings along with the life insurance benefit, making it a win-win proposition for the customers. The simple and easy to understand model makes this product mis-selling resilient," said MD and CEO, IndiaFirst Life Insurance.
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