Product launches

INSURANCE

IndiaFirst Life Insurance has launched a pension product, IndiaFirst Guaranteed Retirement Plan. It offers a guaranteed return of 9% on total premiums paid in the initial years, and the benefit of participating in the company’s profits in later years. It is a nonlinked, participating, endowment, deferred plan. Customers have the option of ending the plan term any time after the age of 40.Royal Sundaram General Insurance has launched Lifeline, its flagship health insurance product to Standard Chartered Bank’s India customers through the bancassurance channel. Lifeline is Royal Sundaram’s first plan serviced by doctors that offers a wide range of sum insured from `2 lakh to Rs`1.5 crore.

BANKING

IndusInd Bank has partnered with online payment solution provider PayU India to improve the digital experience for its consumers. With this partnership, the bank will now offer its full suite of consumer banking products online.ICICI Bank has rolled out two digital services in the home loan space. Through Express Home Loans, the bank plans to facilitate online approval of home loans within eight working hours. The bank has also launched an app–iLoans–to facilitate paperless approval of subsequent disbursements for construction-stage-linked home loan borrowers.

MUTUAL FUNDS

Axis mutual Fund has launched Axis Hybrid Fund, Series 29. The objective of the closed-ended scheme is to generate income by investing in fixed income securities. The minimum subscription amount is `5,000 and in multiples of `10 thereafter. The NFO closes on 25 January.

 

Source:- The Economic Times (Mumbai)

Date:-18th Jan,2016

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