The IndiaFirst Money Balance Plan is a unit-linked endowment policy that offers the benefits of life cover and investment. ✓Life Cover & Death Benefit ✓Tax Benefits. Know more!
REASONS TO BUY INDIAFIRST MONEY BALANCE PLAN
Optimise your investments with the help of our ‘automatic trigger-based' investment strategy
Pay your premiums through single, limited or regular premiums
Safeguard your family’s future through a life cover, in case of the life assured's untimely demise
Get easy access to your money through partial withdrawals
Tax benefits may be available on the premiums paid and benefits received as per prevailing tax laws
WHAT ARE THE ELIGIBILITY CRITERIA?
Minimum age at entry is 5 years and maximum age at entry is 65 years
Life cover for a minor starts at the end of two years from the date of commencement of the plan or at the first monthly plan anniversary after attainment of majority, whichever is first
Invest from 10 to 70 years when investing in regular premium, from 10 to 25 years in limited premium and from 5 to 20 years in single premium
IndiaFirst Money Balance Plan
It has taken a lot of hard work to get to where you are in life. It only makes sense that every hard-earned rupee you have should be put to work for you. To invest in the market, you need a high-risk appetite because the market's volatility directly affects your investment. What this situation lacks is a sense of security.
What if you had access to an investment instrument that ensures your hard-earned money works for you but is also kept safe for your future needs? The IndiaFirst Money Balance Plan is the ULIP plan you need. Secure your future with an intelligent tool that offers you the best of both worlds—investment and security.
What is the IndiaFirst Money Balance Plan?
The IndiaFirst Money Balance Plan is a unit-linked, non-participating life insurance endowment policy that helps create wealth for the future while limiting your exposure to market fluctuations. With the IndiaFirst Money Balance Plan, you have the benefits of investing in the market and earning market-linked returns along with the security of a life insurance cover.
With intuitive features like the Automatic Trigger-Based Investment Strategy (ATBIS), the IndiaFirst Money Balance Plan helps you save systematically and earn consistent returns by transferring the earnings on your savings to a relatively safe fund as triggered. By taking away the need to keep on top of the market while investing, the IndiaFirst Money Balance Plan takes the guesswork out of it for you, so you can sit back and watch your money work miracles for you.
What are the key features of the IndiaFirst Money Balance Plan?
The IndiaFirst Money Balance Plan is a ULIP policy that offers the benefits of life cover and investment.
Fund options
Under this ULIP plan, the policyholder can choose between two unit-linked funds for investment. Both fund options offer different levels of risk and returns.
The Equity1 fund allocates 80-100% of investment to equity funds. The remaining 0-20% is directed towards the money market. This ULIP plan fund option aims at creating wealth with a high rate of returns in the long run by investing heavily in the equity market. There is a high probability of negative returns, particularly in the short term.
The Debt1 fund allocates 70-100% of investment to debt funds. The remaining 0-30% is directed towards the money market. This ULIP plan option aims to create investment returns that exceed the inflation rate in the long term. Since the Debt1 fund features medium risk, there is a low probability of negative returns in the short term.
Smart investment strategy
With the Automatic Trigger-Based Investment Strategy (ATBIS), this ULIP plan allows you to optimise your investment. Build your savings systematically while securing what you earn through automatic transfers into relatively safe funds that offer consistent returns.
If you opt for ATBIS while buying the ULIP plan, earnings from funds invested in Equity1 are automatically transferred to Debt1 based on a pre-set trigger rate of 10%. The policyholder can opt out of ATBIS for future transactions after making a formal request to the insurer.
Flexible premium paying modes
The IndiaFirst Money Balance Plan ULIP policy allows for premium payments to be made at regular intervals for a limited amount of time or through a larger single premium payment. In the regular and limited premium mode, you can make payments monthly, half-yearly, and yearly. The single premium option allows for a one-time payment only.
For a regular and limited premium ULIP plan, the minimum premium is set at Rs. 12,000 and Rs. 15,000 per year, respectively. There is no maximum limit subject to underwriting.
Life cover and death benefit
This ULIP insurance plan offers life cover in case of the life assured's untimely demise. At any point in time, the death benefit will not be less than 105% of the total premiums paid. The maximum sum assured depends on the premium payment mode and age of the policyholder.
Partial withdrawals
After completing the lock-in period, you can access your money in case of a financial emergency through the partial withdrawal option.
Maturity pay-out
With this ULIP insurance policy, you have the option of choosing your maturity pay-out. You can choose to receive the entire fund value as a lump sum pay-out or receive it up to a period of 5 years by opting for the Settlement Option.
Appointments
Under the IndiaFirst Money Balance Plan, the policyholder can choose an appointee and a nominee to manage the policy funds in their absence.
Online ULIP plan
The IndiaFirst Money Balance Plan can be purchased online for your added convenience.
Tax benefits
Gain tax benefits and exemptions as per applicable tax laws. Policyholders may claim tax benefits and exemptions on premiums paid under Section 80C and the maturity/death benefits received under the IndiaFirst Money Balance Plan.
How does the IndiaFirst Money Balance Plan work?
The IndiaFirst Money Balance Plan is a unit-linked, non-participating life insurance endowment policy. The primary goals of this ULIP plan are to help you save for the future by earning market-linked returns while limiting your exposure to the volatility of the market. Besides, you also receive the peace of mind of life cover throughout the policy's tenure and for another 5 years if you choose the Settlement pay-out option.
Upon maturity
At the end of the IndiaFirst Money Balance Plan term, the policyholder receives the fund value at that juncture. You can choose to receive the entire fund value in a lump sum payment or opt for the Settlement Option.
With the ULIP plan settlement option, you can choose to receive your maturity pay-out spread over a period of up to 5 years. Instalments have to be paid from the date of maturity under this option. Your life cover continues for these 5 years, only stopping in case of complete withdrawal during this time. No partial withdrawal or fund switching is allowed during this period.
Upon demise
Suppose the policyholder dies while the ULIP plan is still in force. In that case, the nominee receives the death benefit equal to higher fund value on the date of death or sum assured as a lump sum amount or as monthly instalments under the settlement option.
How does the ULIP investment work under the IndiaFirst Money Balance Plan?
The IndiaFirst Money Balance Plan is a fundamental ULIP plan that offers the dual benefits of life cover and market-linked investment. Every new premium or renewal amount paid towards the ULIP plan is allocated towards Equity1 and Debt1 funds after deducting an allocation charge.
If your funds are in Equity1 and you have opted for ATBIS, the earnings are transferred to the Debt1 fund automatically based on a predefined trigger rate of 10% at the end of the day. By doing this, the policyholder gets to enjoy a certain sense of security and the benefits of market upswings by switching gains to a relatively safer fund.
Can you move from one fund to the other?
Yes, the policyholder can switch from one fund to another using the switching facility built into the IndiaFirst Money Balance Plan. Under the switching option, you can transfer a part or the whole of your units from one fund to another. The minimum switching amount is Rs. 5,000. In a month, you are allowed to make two switches free of charge. The free switches are not transferrable to the next month.
What are the benefits of the IndiaFirst Money Balance Plan?
ULIP insurance plans offer a host of exclusive benefits that make them a perfect fit in anyone's financial portfolio. The IndiaFirst Money Balance Plan is a unit-linked plan that provides insurance and investment benefits, making it attractive to those who want to create wealth without being subjected to extreme vagaries in the market.
Transparency
With the IndiaFirst Money Balance Plan, all pertinent details about the plan, including the structure of charges, investment value and method, expected rate of returns, and ULIP policy facilities, are shared with you when purchasing the ULIP plan. Furthermore, NAV reporting and annual account statements are also available to you in the interest of maintaining complete parity.
Flexibility
The IndiaFirst Money Balance Plan is not just a transparent wealth creation tool, but it also offers the policyholder utmost flexibility. With this ULIP plan, you can decide what your money does for you. Choose the fund option you like, switch to a different risk profile when you need to, and rely on ATBIS to make smarter investment choices for you daily.
The IndiaFirst Money Balance Plan also offers flexibility when it comes to policy tenure and premium payments. You can choose to pay regular premiums for the entire policy term of 10-70 years or pay limited premiums for 5-7 years and enjoy policy benefits for the period of 10-25 years.
Lastly, you can also opt for a single, one-time payment to enjoy coverage for 5-20 years. Customise the IndiaFirst Money Balance Plan as you like so the plan can get you closer to achieving your dreams.
Liquidity
IndiaFirst Life Insurance believes that life's uncertainties are all but inevitable. Even with the best-laid plans, it is possible to be derailed by a financial emergency. With this in mind, the IndiaFirst Money Balance Plan provides for partial withdrawal facilities. In case of a minor life assured, partial withdrawal is allowed after the minor attains the age of 18.
For regular and limited premium ULIP plans, partial withdrawal is permitted after paying premiums for at least 5 years. Single premium policies allow for partial withdrawal after the completion of the fifth year of the ULIP policy.
Customised to your risk appetite
Actively participating in the stock market is not a small feat. Not only do you need to have a significant risk appetite, but you also need to do your due diligence to stay on top of a quicksilver market. With the IndiaFirst Money Balance Plan, you get the benefits of creating wealth with market-linked growth without actually partaking in the market. While you spread your risk between equity and debt funds, the IndiaFirst Money Balance Plan also assures you life coverage for the policy tenure.
What are the eligibility criteria for the IndiaFirst Money Balance Plan?
- The minimum age at the time of entry is 5 years as on last birthday, while the minimum age at the time of maturity is 18 years as on last birthday.
- The maximum age at the time of entry is 65 years as on last birthday, while the maximum age at the time of maturity is 75 years as on last birthday.
- In IndiaFirst Money Balance Plan regular premium mode, the minimum premium is Rs. 1,000 a month, Rs. 6,000 half-yearly, or Rs. 12,000 yearly. The policy term is set between 10 to 70 years.
- In IndiaFirst Money Balance Plan limited premium mode, the minimum premium is Rs. 1,250 a month, Rs. 7,500 half-yearly, or Rs. 15,000 yearly. The policy term is capped at 10-25 years with 5-7 years of limited premium payment.
- In IndiaFirst Money Balance Plan single premium mode, the minimum premium is Rs. 45,000. The policy term is capped at 5-20 years for a one-time payment policy.
WHAT OUR CUSTOMERS HAVE TO SAY
Want more details on how this product may help you
LET OUR FINANCIAL PROFESSIONAL CALL YOU BACK
Product Brochure
OTHER PRODUCTS THAT MAY INTEREST YOU
FAQs
-
What is the IndiaFirst Money Balance Plan?
The IndiaFirst Money Balance Plan is a non-participating unit-linked product that serves the purposes of saving, investment, and insurance. The goal of the IndiaFirst Money Balance Plan is to help create wealth by maximising market-linked growth benefits using an exclusive investment strategy named the Automatic Trigger-Based Investment Strategy or ATBIS. This allows you to enjoy a high growth potential while having assured life coverage while the policy is in force.
-
What is the Automatic Trigger-Based Investment Strategy under the IndiaFirst Money Balance Plan?
The IndiaFirst Money Balance Plan comes with an Automatic Trigger-Based Investment Strategy or ATBIS that you can opt for. At the end of the day, ATBIS transfers all the earnings into the relatively safer Debt1 fund based on a 10% trigger. This transfer is triggered when the simple absolute return on the net amount put in the Equity1 fund crosses a target rate of 10% after deduction of charges.
-
When can I opt for ATBIS in the IndiaFirst Money Balance Plan?
ATBIS or Automatic Trigger-Based Investment Strategy helps systematically increase your savings by automatically moving the earnings to the safer fund within the IndiaFirst Money Balance Plan. You have the option to select ATBIS at the time of application and renewal of the IndiaFirst Money Balance Plan. In case you opt for ATBIS while buying the policy and invest in the Equity1 fund, your earnings will be automatically transferred from Equity1 to Debt1 upon reaching a predefined trigger rate of 10%.
-
Are partial withdrawals allowed under the IndiaFirst Money Balance Plan?
In case of an emergency, the IndiaFirst Money Balance Plan provides for a partial withdrawal facility. If you have a regular or limited premium IndiaFirst Money Balance Plan and have paid your premiums for the first 5 years, you can apply for partial withdrawal after the 5th year. Similarly, for a single premium IndiaFirst Money Balance Plan, you can withdraw after completing the 5th policy year. There are no partial withdrawal charges applicable under the IndiaFirst Money Balance Plan.
The minimum partial withdrawal amount is Rs. 5,000. There are limits set on maximum withdrawal under the IndiaFirst Money Balance Plan. In regular and limited premium plans, the maximum withdrawal is capped at 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). In single premium plans, the maximum withdrawal is capped at up to 25% of the fund value provided that the fund value after withdrawal is not lower than Rs. 45,000.
-
How does the death benefit change in case of partial withdrawals in the IndiaFirst Money Balance Plan?
In case of the policyholder's untimely death during the policy term, the IndiaFirst Money Balance Plan provides for a significant death benefit. The sum assured or paid-up sum assured will be reduced by the amount equal to the partial withdrawals, if any are made during the 24 months immediately preceding the date of death of the life assured.
-
Are there tax benefits under the IndiaFirst Money Balance Plan?
ULIP plans have long been recognised as sound tax-saving instruments. Tax benefits may be available on premiums paid and the benefits receivable under the IndiaFirst Money Balance Plan as per prevailing Income Tax Laws in India. These are subject to change from time to time as per the Government Tax laws.
-
What are the charges under the IndiaFirst Money Balance Plan?
The IndiaFirst Money Balance Plan is a transparent and flexible ULIP plan designed to meet your wealth creation, investment, and insurance security needs. As with other ULIP plans, there are certain charges associated with the policy. These charges include:
- Premium allocation charge (deducted before investing)
- Fund management charge (deducted daily before NAV calculation)
- Policy administration charge (deducted monthly)
- Mortality charges (deducted on the first business day of each policy month by way of cancellation of units)
Other charges that may be applicable depending on the facilities you use under the IndiaFirst Money Balance Plan include:
- Discontinuance charge (not applicable from the 5th policy year onwards)
There are no switching or partial withdrawal charges associated with the policy. If a switching charge is introduced later, it will be subject to prior approval from the IRDAI.
-
How is the sum assured calculated under the IndiaFirst Money Balance Plan?
The calculation of the sum assured to be paid as death benefit depends on the type of policy you hold based on premium paying term and policy term.
While the death benefit at any time will not be lesser than 105% of the total premiums paid, the minimum sum assured is set 7 times the annualised premium in case of regular and limited premium plans, and 125% of single premium in case of single premium plan.
The maximum sum assured under the IndiaFirst Money Balance Plan is capped at multipliers of the annualised premium depending on the type of policy you hold. For instance, for a policyholder in the age band of 31 to 35 years, the maximum sum assured is set at 40 times the annualised premium for regular premium policies. For the same age band, the maximum sum assured is capped at 20 times the annualised premium for a limited (7-year) policy, and at 10 times the annualised premium for a single premium 5-year term policy.
-
Do I get a grace period for missed premiums?
A grace period of 30 days for payment of all premiums under half-yearly and yearly modes and 15 days under monthly mode is provided to IndiaFirst Money Balance Plan policyholders. This period starts from the due date of each premium payment. All your plan benefits continue during this grace period.
-
Is there a free-look period under the IndiaFirst Money Balance Plan?
Yes, you can return the policy to the insurer within the free-look period if you disagree with the terms and conditions of the plan. This free-look period is capped at 15 days from the date of receipt of the policy. The free-look period for policies purchased through distance marketing or electronic mode will be 30 days.
