From correspondents in Andhra Pradesh, India, 08:39 PM IST

IDBI Fortis Life Insurance Co Ltd, which has embarked on an aggressive drive to open 100 branches across the country during this fiscal, has formally launched their branch in Vijayawada. They already have a branch in Hyderabad, the state capital.

The company plans to set up four more branches in the State, covering the South with over 20 branches.

“With the growing incomes, more and more people want to invest their money for long term wealth building. We hope to target this segment with our unique wealth-building products that will help their money grow by protecting it from unforeseen circumstances” said Ms R. M. Vishakha, President – Bancassurance, IDBI Fortis Life Insurance Co Ltd.

The Hyderabad branch is located at Himayat Nagar Main Road, while the one at Vijayawada is at Ring Road, Venkateshwara Nagar in Gunadala.

IDBI Fortis Life Insurance is a recently launched joint-venture of IDBI, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Fortis, Europe’s banking and insurance giant.

The company launched operations in March this year, leading with their innovative concept ‘Wealthsurance’. WealthsuranceTM is a first of its kind combination of comprehensive investment choices, protected by powerful insurance options, all presented with a reasonable charge structure, making it a one stop solution to a customer’s wealth building plans. WealthsuranceTM offers investment choices such as Guaranteed Return Fund, Equity Funds, and Debt Funds etc. ensuring that the customer would find all his investment requirements satisfied with this one powerful product. The powerful insurance benefits of WealthsuranceTM ensure that a customer’s wealth plan is not affected by unforeseen events that may strike them.

“We at IDBI Fortis see a major opportunity in Andhra Pradesh not only to expand our business but to harness the state’s talent pool. IDBI Fortis, one of the fastest growing insurance companies in the country, also offers employment as well as self-employment opportunities for staff and agents respectively,” said Mr Murali Iyer, National Head – Agency & Alliances, IDBI Fortis Life Insurance Co Ltd.

Source: Press Release Distribution via India PRwire