The country's youngest insurer IndiaFirst Life today said it hopes to sell all its products online soon.

Launching its online platform called LifeStore here as part of its first anniversary, IndiaFirst managing director and chief executive P Nandagopal said this online facility simplifies insurance jargon and encourages customers to make their own decisions besides help avoid misselling by greedy agents.

IndiaFirst, promoted by public sector lenders Bank of Baroda and Andhra Bank and the British risk, wealth and investment firm Legal & General with 44, 30 and 26 percent equity holding respectively, was launched last March and has so far sold over two lakh policies since then.

"The core objective of LifeStore is to simplify insurance and encourage customers to make their insurance investment decisions on their own, anytime and anywhere. This is one of priority areas now and we would be looking at expanding this onto mobile platform and interactive kiosks as well," Nandagopal said, adding the do-it-yourself LifeStore platform comes with live video call, product audio visuals, product comparisons, etc.

IndiaFirst, which enjoys about 1.4 percent of the market share among the 22 other private life players, has only in January started hiring agents, as its distribution model has been bancassurance.

Currently, it has six products - one each term and traditional saving plan, and four Ulips and traditional saving products are the largest selling model for it now.

On the growth plan, he said, it expects to clock 100 percent growth next fiscal over its current size of a little over Rs 600 crore and hopes to break even by the fifth year.

The company has capital base of Rs 455 crore.