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  • IndiaFirst Life Plan

    Indiafirst Term Plan

    IndiaFirst Life Plan is a non-participating pure term insurance plan. You can enjoy a life cover of 40 years at an affordable cost in addition to guaranteed lump sum benefit and tax benefits. By availing of the IndiaFirst Life Plan, you can provide a protective cushion to your family in case of your untimely demise.

    Eligibility Criteria for IndiaFirst Life Plan

    1. Age at Entry
      1. Minimum: 18 years
      2. Maximum: 60 years
    2. Age at Maturity: 70 years

    Features of IndiaFirst Life Plan

    The salient features of this term insurance plan are listed below:

    1. Policy Term
      1. Minimum: 5 years
      2. Maximum: 40 years
    2. Premium Payment Terms: Regular and Single
    3. Premium Payment Frequency: Monthly, Half-Yearly, Yearly and one-time payment
    4. Sum Assured/Life Cover
      1. Minimum: Rs.1,00,000
      2. Maximum: Rs.50,00,00,000

    Benefits of IndiaFirst Life Plan

    The following are the main benefits of the plan

    1. Death Benefit: In the unfortunate event of your death, your nominee will receive a lump sum amount which is equal to sum assured. The death benefit which is paid will be more than 105% of all premiums paid
    2. Tax Benefits: You can avail of tax deductions (up to Rs.1 lakh) under Section 80C. Death benefits are eligible for tax benefits under Section 10 (10D) of the Income Tax Act, 1961
    3. Maturity Benefits: There are no maturity benefits available under the plan

    Example

    Madhav Kishore, a 30-year-old IT employee opt for IndiaFirst Life Plan for a sum assured of Rs.1 lakh for a policy term of 10 years under a single premium payment mode. In the unfortunate event of Kishore’s death within the policy term, his nominee/legal heir will receive the death benefit as a lump sum amount which is equal to the sum assured. The plan will stand terminated after payment of the death benefit.

    FAQs

    1. Are there any survival benefits offered under this plan?

      No. There are no survival benefits offered under this plan

    2. How can i revive my policy?

      You can choose to revive the plan within 2 years of the last unpaid premium by paying the pending premiums and starting the regular payment of premiums.

    3. What is the maximum sum assured under this plan?

      The maximum sum assured under this plan is Rs.Rs.50,00,00,000

    4. Is there any surrender value under this plan?

      Surrender value is payable under the single premium mode if you surrender the plan after the third year. The formula is 40% x premium paid x unexpired term/total term)

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