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India First Life Insurance launches endowment plan for benefit of children

Mumbai, Nov 14 (UNI) India First Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and Legal and General (UK), on Tuesday introduced a non-linked, participating, endowment insurance plan which provides comprehensive financial protection for a child. The plan, aptly called 'Little Champ', will benefit children by way of regular guaranteed payouts for financing the child’s education and securing child’s future.
In an unfortunate event of permanent disability or demise of the parents, India First Life Little Champ Plan provides an immediate financial payout, subsequently eliminating the need to pay any future premiums, also, contributing planned payouts at regular intervals, to ensure meeting all financial goals as envisaged, for
the child.
Speaking on the sidelines of the launch here, Ms R M Vishakha, managing director and chief executive of India First Life Insurance, said, "Keeping India First Life’s vision of securing lives and creating values in the core, we are delighted to offer this unique insurance plan that ensures guarantee, flexibility and safety for one’s children."
"With the launch of Little Champ, India First Life has a full suite of product offerings across customer segments and needs. It is needless to say that every parent intends to protect and enhance their child’s future and offer the best protection for their children. Translating this thought to our product, India First Life Little Champ Plan is designed to aid enhanced financial preparedness amongst customers to secure children’s future," she added.
Rushabh Gandhi, Sales & Marketing director at India First Life Insurance, said, "Despite the spiraling costs of education, every parent aspires to provide quality education to their children. The India First Life Little Champ Plan helps parents prepare better for financing educational needs of their children. With higher education
becoming more of a norm, the guaranteed pay-out option of up to 8 years makes the plan unique.
"The other distinguishing features of this plan include assurance of future premiums, bonus accumulation and life insurance benefits, all making for a perfect blend of elements that promise a safety net for your child’s future, a paramount parental concern," he added.
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