IndiaFirst Anytime Plan is a plan that provides protection to your family from any uncertainties of life. This is a non-participating, pure term insurance plan that ensures that your loved ones are protected even in your absence. This is an online protection plan that offers insurance cover on your life.
Features of IndiaFirst Anytime Plan
The features of IndiaFirst Life Plan are as follows:
- The policy term ranges from 5 to 40 years.
- The premium can be paid either monthly, annually or half yearly if they are regular premiums and if it is single premium it has to be paid only once.
- Minimum premium amount that has to be paid are as follows:
Frequency Minimum premium amount One-time payment Rs.10,000 Yearly Rs.2,000 Half yearly Rs.1,024 Monthly Rs.174
- Minimum life covered is Rs.10 lakh and maximum life covered is Rs.50 crores.
- 15 days grace period is offered to make the premium payments for paying monthly premiums and 30 days grace period is offered to make the half yearly premium payments.
Benefits of IndiaFirst Anytime Plan
- You can choose the amount of protection that you need.
- Lump sum amount is immediately paid in the event of your untimely death.
- You can log in the website and get your life cover.
- You get tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Eligibility Criteria of IndiaFirst Anytime Plan
- Minimum age at entry is 18 years and the maximum age at entry is 60 years.
- The maximum age at maturity is 70 years.
Example of IndiaFirst Anytime Plan
Mr.Rohan is a non-smoker aged 26 years. He opts for IndiaFirst Anytime Plan for a term of 30 years with Rs.1 crore sum assured. The regular pay for 30 years will be Rs.9,214 if he had opted for 35 years then his regular pay would’ve been Rs.13,147 and if he has opted for 40 years, his regular pay would be Rs.19,776.
In the event of his death, the nominee will get the sum assured. There is no maturity benefit under this plan.
- What are the policy term offered in this plan?
The policy term offered are 5 to 40 years.
- What is the minimum premium offered?
Minimum premium offered is Rs.10,000 for one-time payment. Rs.2,000 for yearly payment, Rs.1,024 for half-yearly payment and Rs.174 for monthly payment.
- What is the minimum life covered?
The minimum life covered is Rs.10 lakh.
- Where can I buy IndiaFirst Anytime Plan?
You can log in to the company website and buy this plan.
- What is the minimum age to avail this plan?
The minimum age to avail this plan is 18 years.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017