India's First Composite Insurance Plan Launches at Rs 1500: Bima Vistaar

The Insurance Regulatory and Development Authority of India (IRDAI) has unveiled Bima Vistaar, India's first cost-effective composite insurance plan. Set to launch in April 2025, this groundbreaking product covers life, health, personal accident, and property risks in a single policy. Priced at Rs 1500 for individuals and Rs 2420 for families, Bima Vistaar aims to provide affordable insurance for all societal segments. The plan offers a sum assured of Rs 2 lakhs for life, personal accident, and property covers, with additional health benefits. This initiative is part of IRDAI's "Bima Trinity" project, which seeks to transform the insurance industry and achieve "Insurance for All by 2047".

 

Source: Trak.in, MoneyControl, Probus Insurance