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  • IndiaFirst Happy India Plan

    Indiafirst Life Insurance

    The Happy India Plan from IndiaFirst Life Insurance is a specialised Unit Linked Insurance Plan which has been designed keeping the needs of a family oriented individual in mind. With terms ranging from 10 to 25 years, this scheme hopes to ensure that a potential policyholder finds a term which best suits his/her requirements. The provisions of this endowment plan have been formulated to provide sufficient funds through investment in market linked instruments, aiming to fulfil the dreams and needs of a policyholder, helping him/her achieve success in life.

    Key Features of IndiaFirst Happy India Plan

    Some of the unique features of this ULIPs Plan are mentioned below.

    • Timely fund disbursal - Under this scheme, a policyholder can choose the time when he/she wishes to receives funds, ensuring that financial contingencies are met during crucial occasions.
    • Partial withdrawals - This plan allows partial withdrawal of funds during emergencies.
    • Flexible terms – There are 4 term options of 10, 15, 20 and 25 years under the scheme.
    • Nominee/appointee – A policyholder can choose a nominee who receives the benefits in the event of his/her demise. In case of the nominee being a minor, an appointee can be appointed who looks after the plan in the absence of the policyholder.
    • Multiple premiums paying modes – There are 3 premium paying modes under this scheme, with the policyholder having an option to choose between a monthly, half-yearly or yearly frequency.
    • Multiple fund options – There are 4 fund options from which a policyholder can choose, each offering unique market benefits. A policyholder can also opt to switch between funds, if need be.
    • Policy revival – Lapsed policies can be revived by paying all dues within two years of the plan being discontinued.
    • High sum assured – Policyholders are entitled to high sum assured, with the entry age determining this amount. The minimum and maximum sum assured for people under 44 years is the higher of either 10 times the annualised premium OR (0.5 times the annualised premium multiplied by plan term) and 14 times the annualised premium respectively. This minimum amount is equivalent to the higher of 7 times the annualised premium or (0.25 times the plan term multiplied by the annualised premium) for people aged over 45 years with the maximum amount equivalent to 7 times the annualised premium.

    Benefits of IndiaFirst Happy India Plan

    Some of the benefits of the Happy India Plan are mentioned below.

    • Maturity benefit – A policyholder is entitled to a maturity benefit equivalent to the fund value on maturity.
    • Death benefit – A death benefit equivalent to the sum assured will be paid to the nominee in the unfortunate event of demise of policyholder.
    • Additional benefit – A policyholder is entitled to an additional benefit in the event of an accident which results in permanent and total disability.
    • Tax benefits – Policyholders are entitled to tax benefits on the premiums, maturity amounts, withdrawals and death pay-out.

    Eligibility Criteria for IndiaFirst Happy India Plan

    Individuals who wish to secure themselves with an IndiaFirst Happy India plan need to satisfy the following basic criteria.

    • Entry age – The minimum and maximum entry age are 18 years and 50 years respectively.
    • Maturity age – The maximum age at maturity can be 60 years.
    • Minimum investment – The minimum investment for the yearly, half-yearly and monthly modes are Rs 12,000/-, Rs 6,000/- and Rs 1,000/- respectively.
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