Life holds a number of promises, with each one of us striving to fulfil them. Finance can become a major constraint in achieving these promises, especially if those of our loved ones are linked to ours. IndiaFirst Secure Save Plan is a special product which offers assured returns on an investment. A profit savings plan, it helps us plan our future systematically, factoring multiple situations.
Individuals who wish to purchase this plan need to satisfy a few basic eligibility criteria.
Minimum entry age | 5 years |
Maximum entry age | 65 years |
Minimum age at maturity | NA |
Maximum age at maturity | 75 years |
Minimum premium |
|
The important features which can help in understanding Secure Save Plan are highlighted below.
Plan type | Non-linked plan with profit savings |
Plan basis | Single/Individual |
Policy term |
|
Premium payment term | Premiums should be paid for a period equal to policy term |
Maturity benefit | The sum assured plus all accrued bonuses will be paid on maturity of this plan |
Premium payment frequency | Monthly, half-yearly and yearly |
Loan | Loan facility available, with the loan amount depending on the surrender value of a policy. Loans upto a maximum of 90% of surrender value can be availed, subject to certain conditions |
Surrender value | Policy can be surrendered after three full premiums are paid. Surrender value will be paid in full, with this amount depending on factors like policy term and premium amount |
Free look period | The company provides a 15 day free look period within which a policy can be returned |
Alterations | NA |
Grace period |
|
Revival/Renewal | A lapsed policy can be revived by paying all pending premiums and interests. Revival is possible within 2 years of first missed payment |
Sum assured | Minimum - Rs 1 lakh Maximum - Rs 20 crore |
Policy coverage | Maturity Benefit, Death Benefit |
offers a number of benefits to policyholders, some of which are mentioned below.
IndiaFirst Secure Save Plan follows a simple workflow, with eligible individuals expected to follow a few simple steps to enjoy the benefits of this IndiaFirst Life plan . We can understand its working by taking the example of Miss Anusha, a relationship manager with a popular MNC. Anusha decides to purchase this plan on her 35th birthday, choosing to secure the future of her family. She chooses a sum assured of Rs 50 lakhs, with the policy term being 30 years. She pays an nnual premium towards maintaining this policy.
Consider the following scenarios to see how Secure Save Plan works.
Scenario 1: Anusha pays all the premiums, with the policy ending after 30 years. In this case, she will receive a maturity benefit which consists of the sum assured plus the terminal and reversionary bonus.
Scenario 2: Anusha passes away 20 years after purchasing this plan, leaving behind her husband and two children. In this case, her eldest daughter (nominee) will receive a death benefit which includes the sum assured and the bonuses accrued until Anusha's demise. The policy will cease to end after this lump sum amount is paid.
Policyholders can choose to pay premiums according to their convenience, with an option to pay premiums monthly, half-yearly or yearly.
Premium Payment Frequency | Minimum Premium | Maximum Premium |
Monthly | Rs 1,044 | NA |
Half-yearly | Rs 6,143 | NA |
Yearly | Rs 12,000 | NA |
This plan can be enhanced by opting for the IndiaFirst Term Rider. This rider can be purchased at an additional cost and provides an extended life cover based on the needs of a policyholder.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.