offer protection in the truest sense and is a must have policy. These policies are purely meant to , the sole breadwinner of the family meets their demise. The term plans provide financial security to the family and loved ones of the policyholder and prevents further hardship such as financial commitments like mortgages or other loans from passing on to them and allows them to carry on with the lifestyle they were used to.
Types of IndiaFirst Term Plans:
IndiaFirst Life Plan
Feature |
Description |
Term of the policy |
Minimum term of the policy is 5 years Maximum term of the policy is 30 years |
Age of Maturity |
70 years |
Premium Payment Terms |
Single Payment or Regular Payment |
Premium Payment Mode |
Annual, Half-yearly, Monthly and single payment |
Age of entry |
Minimum age is 18 years as at last birthday Maximum age is 60 years as at last birthday |
Sum assured |
Minimum sum assured is Rs 5 lakhs Maximum sum assured is Rs 20 lakhs |
Premium Amount |
Minimum amount is Rs 500 for monthly, Rs 1000 for half yearly and Rs 2000 for yearly. Minimum amount for single payment premium is Rs 5000 |
Benefits |
Death benefit is payable No maturity benefit Surrender benefit only for single premium payment term |
>IndiaFirst Anytime Plan
Feature |
Description |
Term of the policy |
Minimu m term of the policy is 5 years Maximum term of the policy is 30 years |
Maturity of the policy |
Policy Matures when policyholder or life assured attains 70 years as at last birthday |
Premium Payment Terms |
Single Payment Regular Payment |
Premium Payment Mode |
Annual, Half-yearly, Monthly and onetime payment |
Age of entry |
Minimum age is 18 years as at last birthday Maximum age is 60 years as at last birthday |
Sum assured |
Minimum sum assured is Rs 10 lakhs Maximum sum assured is Rs 49 lakhs |
Premium Amount |
Minimum amount is Rs 2400 There is no maximum limit |
Benefits |
Death benefit is payable No maturity benefit Surrender benefit only for single premium payment term |
Features of IndiaFirst Term Plans:
- Policy cover ages for a period of 30 years providing ample security blanket
- The policies are easy to acquire and do not need the use of intermediaries. The policies can be bought online from their website
- The policy offers a surrender value for those policies that have a single premium payment term
- The policy offers flexibility in payment of premiums and provides grace periods to complete payment in case the due dates are missed
- The policies offer tax benefits on premiums paid
IndiaFirst Term Plan FAQ:
1. Q) Is there a grace period provided for the policies?
A) Yes. Grace period provided depends on the premium payment term and is 30 days for yearly or half yearly and 15 days for monthly. Failure to pay premium within the time frame will lead to lapsed policies
2. Q) Can one revive a lapsed policy?
A) Lapsed policies can be revived within 2 years from date of first missed premium but before the maturity date and the policyholder will have to pay all outstanding premiums and begin regular payment of premiums to revive the policy
3. Q) Is there a suicide exclusion provided for the policy?
A) If the life assured commits suicide whether in a sane or insane state of mind within 12 months from the date of commencement of the policy or revival of the policy or issue of the policy, the nominee stands will receive the surrender value of the policy till date. The suicide exclusion is applicable only to single premium payment policies and not regular payment policies.
4. Q) What are the tax benefits of the policy?
A) Under sections 80C and 10D of the income tax act of India 1961, the premiums paid towards the policy are eligible for tax deductions.
- Term Insurance Policy for 5 Year
- Term Insurance Policy for 10 Year
- Term Insurance Policy for 20 Year
- Term Insurance Return of Premium
- Term Insurance Survival Benefits
- Term Insurance Maturity Benefits
- Term Insurance Without Medical Checkup
- Term Insurance With Riders
- Term Insurance vs Endowment Policy
- Top Term Insurance Plans India
- Term Insurance Premium Calculators
- Term Insurance Plan for Couples
- Term Insurance Plan for Family
- Term Insurance for Groups
- Term Insurance for Senior Citizens
- 1 Crore Term Insurance Plan
- Term Life Insurance for Smokers
- Term Life Insurance for Tax Benefits
- Term Life Insurance for Cancer Patients
- Term Insurance Life Cover Calculation
- Term Insurance Plans Comparison Parameters
This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017