IndiaFirst Life Group Credit Protect Plan

(A Non-linked, Non-Participating, Group, Pure-Risk, Life Insurance Plan)

IndiaFirst Life Group Credit Protect Plan is a group pure risk life insurance which enables organizations to provide their members with an enhanced value offering - giving members financial protection against uncertainties of life to enliven their dreams. It facilitates organizations to safeguard themselves against liability exposure as well as empowers members to ensure their family’s dreams are protected and are liability free in case of an unfortunate event.

Key features of IndiaFirst Life Group Credit Protect Plan

Affordable Life Cover

The Plan offers an affordable life cover for group members and protects them from unfortunate events like death, critical illness or permanent disability.

5 benefit options

Choose from below 5 benefit options offering protection against uncertainties of life like death, critical illness and accidental total permanent disability:

Life Cover
Life Cover + Accidental Total Permanent Disability
Life Cover + Critical Illness
Life Cover + Accidental Death
Life Cover + Family income

2 Cover options

2 cover options are available under the plan to choose from – Level Cover & Decreasing Cover

Truncated Cover

Optimise financial security with Truncated cover option under Decreasing cover

4 Rider options

Extra layer of protection with below 4 rider options:

IFL Group Critical Illness Rider
IFL Group Additional Benefit Rider
IFL Group Protection Rider
IFL Group Disability Rider

Health Management Services (HMS)

Support a healthier lifestyle for members with ‘Health Management Services’ benefits for defined schemes

Eligibility Criteria

Age

Group Size

Sum Assured

Policy Term

Premium Payment Term

Premium Payment Frequency

Age at Entry

Answer

Minimum: 14 years (for Life Cover & Life Cover + Family Income), 18 years for rest of the options

Maximum: 75 Years (for Life Cover & Life Cover + Family Income), 65 years for rest of the options

Age at Maturity

Answer

Minimum:

Single Pay (Decreasing & Level cover): 14 years (for Life Cover & Life Cover + Family Income) and 18 years for rest of the benefit options

Limited Pay (Decreasing & Level cover): 16 years (for Life Cover & Life Cover + Family Income) and 20 years for rest of the benefit options

Regular Pay (Level cover): 15 years (for Life Cover & Life Cover + Family Income) and 19 years for rest of the benefit options

Maximum: 76 years (for Life Cover & Life Cover + Family Income) and 70 years for rest of the benefit options

Group Size

Answer

Minimum: 10

Maximum: No limit

Sum Assured

Answer

Minimum: Rs. 10,000

Maximum: No limit (as per Board Approved Underwriting Policy)

Policy Term

Answer

Single Pay: Min. - 1 month, Max. – 40 years

Regular Pay: Min. - 1 year, Max. - 40 years

Limited Pay: Min. - 2 years or minimum 2 times of PPT, Max. - 40 years

Premium Payment Term

Answer

Single Pay

Limited: Min – 1 year, Max – 20 years

Regular: Min – 1 year, Max – 40 years

Premium Payment Frequency

Answer: Monthly/ Quarterly/ Half Yearly/ Yearly/ Single

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’s

General

Premiums and Payments

Policy Terms and Conditions

What are the cover options available under this plan?

Answer

Level Cover

Under this Cover type, Sum Assured remains at the same level throughout the Cover Term as per the Cover Schedule of the COI. Single Premium, Limited Premium and Regular Premium payment options are available under this Cover

Decreasing Cover

Under this Cover type, Sum Assured decreases over the Cover Term as per the Cover Schedule mentioned in the COI. The Cover Schedule has been generated at interest rate for which Premium is charged and Cover Amount will not fall below Rs. 10,000/- (Rupees Ten Thousand only). Single Premium and Limited Premium payment options are available under this Cover.

What are the benefit options available under the plan?

Answer

5 benefit options offering protection against uncertainties of life like death, critical illness and accidental total permanent disability are available under the plan:

a. Life Cover

b. Life Cover + Accidental Total Permanent Disability

c. Life Cover + Critical Illness

d. Life Cover + Accidental Death

e. Life Cover + Family income

What if you miss paying the premiums?

Answer

The Master Policyholder (MPH)/ Member is given a Grace Period of fifteen (15) days for monthly premium payment frequency, and thirty (30) days for all other Premium payment frequencies under Regular/Limited payment mode. This period starts from the due date of each Premium payment. The Cover shall continue during this Grace Period. In case, the due Premiums are not paid by the end of the Grace Period then the Cover will lapse immediately on expiry of Grace Period. This provision will not be applicable to Single Premium Cover.

In case of unfortunate event of the Member’s death or occurrence of any covered event as per the benefit option chosen during the Grace Period, the Benefit will be payable after deducting only Premium(s) due; up to the date of occurrence of death or date of the covered event.

Can I get a loan in this policy?

Answer: No, loan is not allowed in this policy.

What is the free look period?

Answer

You have a free look period of 30 days from the date of receipt of the Policy Document / Certificate of Insurance whether received electronically or otherwise, to review the terms and conditions of the policy/COI and in case you disagree to any of those terms and conditions, you shall have the option to return the policy/COI to us for cancellation, stating the reason or your objection.

In such an event, irrespective of the reason for cancellation, you shall be entitled to a refund of Premium paid subject only to a deduction of, proportionate risk premium for the period of Cover, expenses incurred on medical examination, if any, and stamp duty charges.

Such a request received by Us for free look cancellation of the COI shall be processed and Premium shall be refunded within 7 (seven) days of receipt of the request, subject to applicable deductions.

When does the cover cease?

Answer: The insurance Coverage at Member level will cease at the earliest of following:

Member attaining Age 77 years [for Life Cover or Life Cover + Family Income] 71 years [in case of Life Cover + Accidental Total Permanent Disability or Life Cover + Critical Illness or Life Cover + Accidental Death Benefit]

On death or ATPD (if Member avails this benefit) or First Diagnosis of CI (if Member avails this benefit) whichever is earlier; or

The end of Cover Term; or

Non-payment of Premium under Limited / Regular Premium during the Grace Period.

Surrender of the Cover/ COI by the Member; or

Death of the first life in case of joint life Coverage in case of first claim basis; or

On the expiry of the Revival Period if a lapsed Cover is not revived within the said period; or

On the date of receipt of ‘free-look’ cancellation request.

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