Launch Overview
IndiaFirst Life Insurance Company Limited announced on 12 August 2026 the introduction of the IndiaFirst Life GOLD Term Plan, a holistic term insurance solution that integrates life cover, wellness benefits and family‑focused features in a single product.
Market Context
The release notes that while awareness of financial protection is rising, term insurance penetration in India remains relatively low, indicating a sizable opportunity to enhance financial security for families.
Product Features
The GOLD Term Plan is positioned for individuals and families seeking protection beyond basic life cover, offering flexibility, wellness support and long‑term value through combined coverage and ancillary benefits.
Executive Comments
Varun Gupta, Chief Distribution Officer – Bancassurance, stated that protection should evolve with customers and deliver value throughout their journey, and that the new plan reflects this philosophy. Sumeet Sahni, Chief Distribution Officer – Agency & Alliances, highlighted the low adoption of term insurance and the growing demand for flexible, value‑adding solutions, asserting that the GOLD Term Plan meets this need.
Company Profile & Shareholding
IndiaFirst Life, headquartered in Mumbai, has a paid‑up share capital of INR 754 crore. Its shareholders are Bank of Baroda (65%), Union Bank of India (9%) and Carmel Point Investments India Private Limited (26%). Carmel Point Investments India Pvt Ltd is incorporated by Carmel Point Investment Ltd, a Mauritius‑registered entity owned by private‑equity funds managed by Warburg Pincus LLC, New York, United States.
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