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Ask an Expert to Buy Life Insurance

We're happy to know that you're prioritizing your family's future. Our life insurance expert will assist you in finding the best insurance plan. To schedule a call, please share some of the below details.

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Key features of IndiaFirst Life Group Additional Benefit Rider

2 Benefit Options

Choose from spouse cover or term rider based on your rider requirement.

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Enhanced Risk Cover

Avail additional cover to protect your group members and their family.

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Financial Protection

Financial protection of the Member/ Member and Spouse against death.

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Tax Benefits

Tax benefits may be available on premiums paid and benefits receivable as per prevailing Income Tax Laws.

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Eligibility Criteria

Age at Entry

Answer
  • Minimum: 18 Years
  • Maximum: 64 Years

Age at Maturity

Answer
  • Maximum: 65 Years

Sum Assured

Answer

Spouse cover: Maximum 50% of the original cover 

 

Term cover: 100% of Base Life cover (Subject to board approved underwriting policy)

Policy Term

Answer

Same as base plan

Premium Frequency

Answer

Same as base plan

How people have benefitted from IndiaFirst Life

Hassle-free Onboarding Process

From the onboarding process to the comprehensive medical tests, IndiaFirst Life ensured a hassle-free journey for me. The features of the plan I purchased are as per my expectations, providing me with peace of mind for future.

Mohit Agarwal

(Mumbai, 21st March 2024)

How people have benefitted from IndiaFirst Life

Pleasant Online Buying Experience

Buying IndiaFirst Life's life-insurance policy was a pleasant experience for me. The hassle-free nature of interaction with the company's representative was a boon and so was the inclusion of must-have features in their policy plans.

Satyam Nagwekar

(Mumbai, 22nd March 2024)

How people have benefitted from IndiaFirst Life

Trusted ally in my financial journey

IndiaFirst Life's Radiant Smart Invest Plan has completely won me over! It's like having a trusted ally in my financial journey. With its flexible fund switch options, I've been able to craft my investments just as I envisioned. In just a year, I've seen a remarkable 20% return on my investments! The support from the onboarding team has been absolutely fantastic, making me feel truly cared for and supported.

Paulomi Banerjee

(Kolkata, 21st March 2024)

How can we help?

View All FAQ

What is the sum insured in this policy?

Answer

The sum insured in the policy will be as decided by you or your member as per the need. However, the minimum sum insured would be the base plan’s minimum sum insured or Rs. 5000, whichever is lower of the two.
 

Rider OptionMaximum per Life
Spouse CoverRider attached with IndiaFirst Group Term Life Plan: 1 Cr* Rider attached with IndiaFirst Life Group Credit Life Plus Plan: 2 Cr*
Term Rider Base Life cover subject to Board approved underwriting policy

 

Note:

  • *Spouse cover is limited to a maximum of 50% of Member’s Death cover under Base plan subject to Board approved underwriting policy
  • Term Rider benefit is limited to a maximum of 100% of Base Life cover
  • Currently, Rider with term and spouse cover will be attached to India First Group Term Plan(143N006V05)
  • Rider with spouse cover will be attached to India First Life Group Credit Life Plus Plan(143N036V01)
  • Term Rider is not applicable under IndiaFirst Life Group Credit Life Plus Plan  

What is the IndiaFirst Life Group Additional Benefit Rider Plan?

Answer

IndiaFirst Life Group Additional Benefit Rider Plan is a non-linked, non-participating, group rider which may be attached to one-year renewable group and other long term group products, designed to enhance financial security for your members in case of an unfortunate event.

What are the options available under this policy?

Answer

There are two rider options in the policy which the Master Policyholder/ Member can choose at the inception of the cover commencement:

  • Spouse Cover Benefit: In the event of death of the spouse during the term of the rider, the beneficiary would receive a lump sum benefit equal to rider Sum Insured. The Spouse cover in the policy is limited to a maximum of 50% of Member’s Death benefit cover in the base policy.
  • Term Rider Benefit: In the event of the death of the member during the term of the rider, if opted, the beneficiary would receive a lump sum benefit equal to rider sum Insured. Rider Sum Insured for Term Rider cannot exceed the compulsory Death benefit cover in the base policy.

 

Rider OptionsCoverage OptionDescriptionDetails
Group Additional Benefit RiderSpouse Cover Benefit 100% Rider Sum Insured paid out on the death of the spouse during the term of the policy In the event of death of the spouse during the term of the rider, the beneficiary would receive a lump sum benefit equal to rider Sum Insured Spouse cover is limited to a maximum of 50% of Member’s Death cover
Term Rider Benefit 100% Rider Sum Insured paid out Death during the term of policyThis option provides a lump sum benefit equal to rider Sum Insured in the event of the death of the member during the term of the rider. The rider terminates once the full amount is paid to the beneficiary. Term Rider benefit is not applicable under IndiaFirst Life Group Credit LifePlusPlan 


Note: For transgender lives, if any, male rates will be applicable

You as a Master policyholder can choose any one or both of the above options. 

What is the rider term and the premium payment term in the policy?

Answer

The rider term as well as the premium payment term will be same as that of the base plan. The rider will not be offered if the term of the rider exceeds outstanding term under the base policy.

What are the premiums and premium paying modes available in the policy?

Answer

Premium paying mode depends upon the option selected in the base plan.

Minimum premium would be as per the minimum rider sum insured.

The maximum total Rider Premium (which is inclusive of rider extra premium) shall, in no case, exceed
 

  • 30% of premiums (including extra premium, if any) payable under the base policy

What if you miss paying your premiums?

Answer

In the event of non-payment of premium due under the policy within the grace period the policy will lapse, and no benefit is payable. The cover will cease, and no further benefits will be payable in case of a lapsed policy.

What are your options to revive the policy?

The Revival period shall be a period of five years starting from the last premium due date. You can revive your policy within a Revival Period along with the base plan from the date of first unpaid premium subject to applicable Board approved underwriting. There is no revival charge or penal interest/Late fees on revival. If rider has lapsed and not is revived within Revival Period or rider is opted out from base policy, then it cannot be included in the future period of the policy. On revival, if allowed, all due unpaid premium will be collected without any interest/Late fees and cover continues subject to Board approved under writing policy.

Are there any constraints to revive your policy?

Yes. You can revive your policy as long as you do it within Revival Period as per base policy years from the due date of the first unpaid premium but before the maturity date. The revival is subject to satisfactory medical and financial requirements raised by the Insurer. The medical cost, if any to be borne by you. 

What do you receive at the end of the policy term?

Answer

There is no maturity benefit payable under this policy.

What are the tax benefits in this policy?

Answer

Tax** benefits may be available on premiums paid and benefits receivable as per prevailing Income Tax Laws. These are subject to change from time to time as per the Government Tax** laws. Please consult your tax consultant before investing.

Can I get a loan in this policy?

Answer

No, loan is not allowed in this policy.

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Why IndiaFirst life

1.6 Crore

Lives secured since Inception

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Available in 16,500+

BOB & UBI Branches

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27,073 Crore

AUM as of Feb'2024

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1 Day

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