<p>Both the products -- IndiaFirst Smart Save Plan and IndiaFirst Young India Plan -- provide insurance cover and market linked investments growth, the company said in a statement.<br />The company is also planning to launch more products in the next 2-3 months.<br /><br />"Our new products will help cater to the diverse needs of customers across different segments for long term protection coupled with wealth creation, IndiaFirst Managing Director & CEO P Nandagopal said.<br /><br />"We will be launching more new products in the next two- three months. The new products will be a mix of ULIP, health and traditional products," he added.Both the new products would have the benefits of higher protection, option of partial withdrawals and portability facilities amongst others.<br /><br />IndiaFirst is a joint venture life insurance company promoted by Bank of Baroda and Andhra Bank, India and UK's Legal & General.<br /><br />The company has already activated all 4,500 bank branches and plans to strengthen its distribution network by launching its alternate channels shortly, the statement added.<br />As per the new IRDA guidelines effective from September 1, the commission paid to distributors and expenses charged by insurers will no longer be front-loaded and will be distributed over the lock-in period of the schemes, which has been raised to five years from three years earlier.</p>.<p>Currently ULIP products account for about 80 per cent of the total premium collected by the 23 private life insurance companies.<br /><br />The new guidelines from the Insurance Regulatory and Development Authority (IRDA) would protect ULIP-holders from mis-selling by agents and onerous commissions are likely to make the equity-linked instruments more investor-friendly.<br /><br />Under the new guideline, IRDA has fixed the floor on guaranteed returns from ULIP pension plans at 4.5 per cent, which will greatly benefit policyholders saving up for retiremen</p>
<p>Both the products -- IndiaFirst Smart Save Plan and IndiaFirst Young India Plan -- provide insurance cover and market linked investments growth, the company said in a statement.<br />The company is also planning to launch more products in the next 2-3 months.<br /><br />"Our new products will help cater to the diverse needs of customers across different segments for long term protection coupled with wealth creation, IndiaFirst Managing Director & CEO P Nandagopal said.<br /><br />"We will be launching more new products in the next two- three months. The new products will be a mix of ULIP, health and traditional products," he added.Both the new products would have the benefits of higher protection, option of partial withdrawals and portability facilities amongst others.<br /><br />IndiaFirst is a joint venture life insurance company promoted by Bank of Baroda and Andhra Bank, India and UK's Legal & General.<br /><br />The company has already activated all 4,500 bank branches and plans to strengthen its distribution network by launching its alternate channels shortly, the statement added.<br />As per the new IRDA guidelines effective from September 1, the commission paid to distributors and expenses charged by insurers will no longer be front-loaded and will be distributed over the lock-in period of the schemes, which has been raised to five years from three years earlier.</p>.<p>Currently ULIP products account for about 80 per cent of the total premium collected by the 23 private life insurance companies.<br /><br />The new guidelines from the Insurance Regulatory and Development Authority (IRDA) would protect ULIP-holders from mis-selling by agents and onerous commissions are likely to make the equity-linked instruments more investor-friendly.<br /><br />Under the new guideline, IRDA has fixed the floor on guaranteed returns from ULIP pension plans at 4.5 per cent, which will greatly benefit policyholders saving up for retiremen</p>