IndiaFirst Life Insurance Company is a joint venture between Andhra Bank, Bank of Baroda and Legal & General UK. IndiaFirst life offers a wide array of life insurance products that serve every need. As a responsible parent, you would always want to give your child the best of everything be it education or lifestyle. To ensure that you are financially prepared to support and fulfil every dream of your child, you must invest in a suitable insurance plan.
IndiaFirst Child Plans will be significant contributor in planning for your child’s long term financial needs. IndiaFirst Life Young India Plan will help you give your child the most valuable gift of a financially secure future.
IndiaFirst Life Young India Plan
IndiaFirst Life Young India Plan is one of the most sought after insurance products mainly because of the countless advantages that it offers. Given below are some of the features and benefits of IndiaFirst Life Young India Plan.
Features and Benefits of IndiaFirst Life Young India Plan
- Under this plan, your child will receive a sizable amount for every milestone of their life like completion of high school or any professional course.
- You will also receive tax benefits under section 10 (10) D and Section 80 C for the premiums that you invest.
- Under this scheme, you will get a life insurance cover which will guarantee that your family receives a lump sum amount which will be equal to that of sum assured.
- You can opt for the option wherein the insurer will pay the remaining premiums towards the plan or directly to the nominee for other uses in case of an unfortunate event of your death or disability.
- You also have easy access to money by being able to withdraw it partially.
- In the unfortunate event of life assured’s demise, you can opt for the plan where the nominee receives the fund value at maturity even if the sum assured has been paid out already.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017