Introducing StarFirst Combi plans
Mumbai, June 28, 2016: IndiaFirst Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and Legal& General (UK), announced their collaboration with Star Health Insurance Ltd., to introduce Star First Combi Plans – combination of health and life insurance plans.
The StarFirst Combi Plans are a suite of five plans that provide unique combined benefits of health and life cover under a single offering.
Speaking on this occasion, RM Vishakha, MD & CEO, IndiaFirst Life Insurance said, “We are pleased to partner with Star Health Insurance, to offer integrated health and life insurance solutions. Together, we intend creating value for the customer – for a lifetime and beyond - through a single offering.”
“We are happy to have launched this unique combi plan that, in simple words ensures a happy tomorrow. If somebody falls sick, health takes care and if somebody goes to the hospital and something goes wrong, life cover takes care.” said V Jagannathan, Chairman and Managing Director of Star Health Insurance.
Rushabh Gandhi, Director, Sales & Marketing said, “The launch of StarFirst marks a milestone in the Indian insurance industry. Protecting your family from any uncertainties of life has seen a shift from being an option to a basic need. StarFirst Combi Plan offers a combination of Life and Health cover under a single roof. Now, one can ensure that no untoward event upsets the well- being of their loved ones, not only in their absence but also in their presence.”
Anand Roy, Joint Executive Director, Star Health Insurance said, “We are pleased to launch Star First product and join hands with IndiaFirst Life Insurance. Both these entities will leverage their respective distribution strengths to ensure full protection to the insured.”
StarFirstCombi Plans will be available in 5 variants – StarFirst Comprehensive, StarFirst Classic, StarFirst Care, StarFirst Delite and StarFirst Optima.
Key features of the product
· Life cover for the policyholder along with a health cover (for self as well as family).
· The sum assured ranges from INR 1 Lac to 15 lacs for Health cover and from 3 Lacs to 9 Lacs for Life cover.
· Covering 400+ day care procedures
· Benefit of automatic restoration of the Health sum insured up to 100% upon exhaustion of the basic sum insured and bonus.
· Bonus upto 100% of the sum insured following claim free year.
· Hospital Cash for each completed day at hospital.
· Dental / Ophthalmic cover on OPD basis.
· Cover for delivery and new born baby.
· In-built personal accident benefit equal to the health sum insured.
· Tax benefit under section 80 (D) and 80 (C) on the premiums.
About IndiaFirst Life Insurance
Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country's youngest life insurance companies. It is promoted by two of India's largest public sector banks - Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company garnered over INR 9061 crores of assets under management as of 31st March 2016.
About Star Health and Allied Insurance Co. Ltd
Star Health and Allied Insurance Co. Ltd. is the first standalone health insurance company in India. It has launched many first of its kind insurance products from to cater to diverse needs of the market, like Star Cardiac care for Cardiac ailments, Star Senior Citizens Red Carpet for Senior Citizens Health insurance and Star Diabetes Safe Insurance for persons living with Type 1 & Type 2 diabetes.
Star Health and Allied Insurance has a strong network of 300+ branch offices, more than 7700 network hospitals to serve its customers across the country with a vision to protecting health and promoting health.