We understand that, as a parent or a spouse, you want to give nothing but the best to your loved ones. Be it your child’s education or any dream. You will not allow anything to come in the way of the success of your near and dear ones. To help you give your loved ones everything that you have dreamt of, we have introduced the IndiaFirst Young India Plan.
IndiaFirst Young India Plan is a unit linked savings plan that offers you an insurance cover on your life and additionally helps you to grow your money through market linked instruments, This ensures that your family receives financial support as planned by you, even in your absence.
Eligibility Conditions IndiaFirst Life Young India Plan:
|Maximum age at the time of applying for the plan||55 years as on last birthday|
|Minimum age at the time of applying for the plan||18 years as on last birthday|
|Maximum age at the end of the plan term||65 years as on last birthday|
Key Features of IndiaFirst Life Young India Plan:
|Plan type||Unit linked savings plan|
|Free-look period||15 days|
|premium paying modes||Six monthly or yearly.|
|Term of the plan||Your plan is a regular premium plan with term options of 10, 15, 20 and 25 years.|
|Minimum investment||Six monthly: Rs. 6,000. Yearly: Rs. 12,000|
|Maximum investment||No limit|
|Minimum withdrawal for partial withdrawal||Rs. 5000|
|Maximum withdrawal for partial withdrawal||Up to 25% of the fund value only if your fund is left with a minimum balance equal to 110% of your annual premium after the withdrawal.|
|Loan||You can avail a loan under this plan.|
|Free look period||15 days|
|Grace period||30 days|
|Guaranteed returns||No guaranteed returns.|
|Moving policies||You have the flexibility to opt out of this plan and invest into another Unit Linked plan of IndiaFirst Life Insurance.|
|Suicide clause||If the life assured commits suicide within 12 months from the date of risk commencement or date of revival of this plan, you will receive death benefit but it will be limited to the fund value. It will not include the insured benefits.|
|Revival||It is possible to revive your policy. You will be charged Rs. 500 for doing so.|
|Partial withdrawal||It is possible to do partial withdrawal. You will not be charged extra for doing so.|
Benefits of IndiaFirst Life Young India Plan:
Following are some of the benefits you can enjoy as a policyholder:
- Your loved one will receive funds at the times that they need it most. These expected moments such as high school, professional course etc. can be predetermined and planned out.
- Death of a loved one can be a difficult time. It will be particularly difficult if that individual is the main provider for the family, which is why you as a provider must plan for such an event for the sake of those who depend on you. This IndiaFirst Life plan ensures that your loved one receives a lump sum amount (sum assured) in such an instance.
- The beneficiary can receive the fund value at maturity even if the sum assured has been paid out, in the unfortunate event of the life assured’s demise.
- Its possible to shift from one fund to another if you find that as you go along in life it will benefit you more.
- Partial withdrawal is possible in case you need to do so.
- You can enjoy tax benefits on the premium you invest under Section 80C and 10 (10D).