The insurer is planning to offer a comprehensive health cover for the entire family
IndiaFirst Life Insurance, a joint venture between 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, today announced its foray into the health insurance market with the launch of its IndiaFirst Money Back Health Insurance Plan.
The announcement was made by Dr P Nandagopal, managing director & CEO, IndiaFirst Life Insurance at a conference here today.
"The unique proposition of this plan is that it offers a comprehensive health cover for the entire family along with the investment flexibility to grow wealth by investing in different funds under a single plan," said Dr Nandagopal.
A substantial part of the premium you pay is actually credited into your policy account and this money is invested in various funds as per your choice to get you optimum returns. This money accumulates in your account and comes back to you at the end of the policy. You can also use this amount any time if you need to cover hospital expenses that are beyond the insurance limits or not payable under this policy.
Modern day stress, eating habits, sedentary lifestyle and family conditions all cause serious damage to our health. Most of us ignore health insurance because we just don’t want to incur premium costs when we get nothing in return except when there is a serious health problem.
The second largest Indian lender plans 50 branches in J&K by the end of 2011
HDFC Bank, the second largest private bank in the country, opened its first branch in Leh (Ladakh) today. The branch was inaugurated by Abdul Rahim Rather, finance minister, Jammu & Kashmir.
At 10,500 feet above sea level, this is one of the highest branches in the world. With its footprint in Leh, HDFC Bank hopes to play a key role in financial inclusion by providing credit and other financial instruments customised for the requirements of the local populace.
Through its initiatives, HDFC Bank has been reaching out to around 600 million unbanked Indians, most of them in rural India.
Navin Puri, country head, branch banking, HDFC Bank, told the media in Mumbai: “As a leading bank of the country, we are committed to take modern banking to remote places where it is required the most and make a difference to the lives of people there. Opening a branch in Leh is the first step towards what we believe will be a long and mutually beneficial partnership.”
Senior executive VP, Ravi Narayanan, branch banking head, HDFC Bank, said: “With this branch in Leh, we have taken modern banking to new heights. Using state-of-the-art technology, products to suit local needs and personalised attention, we are confident of serving the people of this region well. We plan to have more than 50 branches in Jammu & Kashmir by the end of year.”
ICICI Securities Ltd, an integrated financial services firm in India and Collins Stewart Hawkpoint, UK-based independent financial advisory group, has announced a broad alliance to co-operate with each other in growing their business franchises. The alliance covers a wide range of investment banking and institutional sales activities, including corporate advisory services, research-led agency securities trading and capital markets advice.
The opportunities to be explored jointly will include advisory services, private equity transactions, debt-advisory services and other corporate finance advice. In addition, the alliance will cover introductions of Indian companies to the London securities markets; the distribution into the UK and Europe of the offerings and placements of Indian or dual-listed securities; and the joint publication and distribution into the UK and Europe of research on over 100 Indian listed companies and the facilitation of secondary trading, through ICICI Securities, of securities of Indian listed companies.
Anup Bagchi, managing director & CEO of ICICI Securities said: “Over the years, corporate clients have been seeking opportunities to enhance their presence in the UK and Europe to gain access to their technologies and markets. At the same time, investors are keen to participate in Indian investments—both primary as well as secondary. ICICI Securities corporate clients as well as institutional investor clients will immensely benefit from the partnership with Collins Stewart Hawkpoint.”
Mark Brown, chief executive of Collins Stewart Hawkpoint, said: “India presents Collins Stewart Hawkpoint with a wide range of opportunities in corporate advisory activities and capital markets and this arrangement plays to the strengths of our investment banking activities. We are particularly pleased to be working with ICICI Securities, one of the major first class Indian investment banking and securities firms.”