IndiaFirst Life Insurance, a joint venture of 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 launched ‘Autolife’ – a simple process of getting life insurance cover instantly at an affordable cost.
Under Autolife, automobile buyers can now not only ensure their family’s happiness about also secure them from future uncertainties of life. They can now avail the benefits of a life insurance cover at the same time and place as buying their new car and that too at an affordable cost.
It is convenient as it does not require any documentation/ medicals or waiting period and assures speedy and empathetic settlement of claims within 48 hours*. The company has entered into its first tie-up with Varun Motors of Andhra Pradesh to offer life insurance cover to its customers. IndiaFirst Life is planning similar tie-ups at a nationwide level across various untapped segments in the near future so that customers across the country can avail the benefit of a life insurance cover through a simple process.
Varun Motors today caters to over 15000 customers every month. They are spread across Andhra Pradesh through 100 centers. Under its first tie-up for Autolife, customers of Varun Motors (two wheeler/ four wheeler) besides availing vehicle insurance; will also be able to avail a life insurance cover of upto Rs. 20 lakh at an affordable cost. Customers have the flexibility of selecting from any of the four options - blue, silver, gold or platinum, which will provide life insurance cover of upto Rs 3lakh, Rs 5lakh, Rs 10lakh and Rs 20lakh respectively.
