IDBI unveils new campaign promoting Lifesurance WLP

13 Jan,2015

By A Correspondent

 

IDBI Federal Life Insurance has launched its latest advertising campaign for its flagship product Lifesurance Whole Life Plan. The campaign uses the thought of “Befikar, Umar Bhar” to highlight the core product benefit of protection till 100 years of age.

 

Consumers, who buy life insurance for the dual benefit of protection and savings, usually expect a lump sum payout to fulfil the dreams they have for their families and themselves. When it comes to protection, it is common place to buy life insurance to financially protect one’s loved ones only during the working years of one’s life. What most individuals miss seeing is the financial stress that their absence will put on their loved ones, even after their working lives. With life spans increasing significantly, having adequate protection throughout the lifetime is not only meaningful but also essential. This is where whole life plans come to the picture.

 

Kawal Shoor, Head of Planning, Ogilvy Mumbai said, “IDBI Federal wanted us to help them take the lead in positioning insurance on its true purpose – beyond savings, beyond investments – as an instrument that provides material and some emotional security. What makes the offering special is its simplicity – one policy that covers needs at various life stages, and continues to provide cover till the age of 100. We can all now live longer. Carefree lifelong was a promise we wanted to bring alive, and hopefully our work has done that.”

 

IDBI Federal’s new campaign takes the help of humour to explain different roles that a whole life plan may play as part of the consumers’ overall financial plan. The campaign portrays a 35 year old Mukesh in conversation with an IDBI Federal representative. During the interaction, we also see the 50 year old and the 70 year old Mukesh come in with their points of view. Each Mukesh is at a different life stage with a different dilemma about his future and a distinct need. The IDBI Federal representative answers their concerns and explains how the policy will take care of Mukesh and his family throughout his life.

 

In the life insurance category in India, this particular approach has never been attempted in the treatment of a TVC, wherein multiple roles are used to depict different life stages. The execution needed significant planning and precision to get the sequencing of events right while shooting the TVC. The TVC seeks to make IDBI Federal Lifesurance Whole Life Plan stand out in the maze of insurance products and simplify product understanding for the consumers.

 

Aneesh Khanna, Chief Strategy and Marketing Officer, IDBI Federal said, “IDBI Federal Lifesurance Whole Life Insurance plan is our flagship product. With increasing life spans, this product works well to effectively address the long term financial needs of the Indian consumer. In a category, where most life insurance players have refrained from advertising whole life plans, we have taken the bold step of communicating a complex product in a simple yet interesting way, keeping in line with our humorous approach that has worked really well for us in the past. The two key challenges for us were to bring out the key benefits of a whole life plan within the limited duration of a TV commercial and yet ensure that the same stands out in the clutter of financial services advertising. Our TV commercial with its unique treatment hopefully overcomes both these challenges with simple, yet effective storytelling.”

 

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