IndiaFirst Life Cash Back Plan

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IndiaFirst Life Cash Back Plan guarantees payouts at regular intervals to meet your immediate needs and an assured maturity payout to secure your future.


  • Ensures your family's financial security with the risk cover of higher of 10 times the annualised premium or sum assured on maturity along with accumulated guaranteed additions

  • Meet your short and medium term financial goals through regular assured payouts

  • Boost your investments through Guaranteed Additions

  • Enjoy long term investment benefits by paying only for a limited period

  • Tax benefits may be available on the premiums paid and benefits received as per prevailing tax laws


  • For a 9 year plan, the minimum age for applying is 15 years and maximum age is 45 years respectively

  • For a 12 year plan, the minimum age for applying is 15 years and maximum age is 50 years respectively

  • For a 15 year plan, the minimum age for applying is 15 years and maximum age is 55 years respectively

  • The maximum age at the time of maturity is 70 years

  • Minimum sum assured is Rs.50,000. There is no limit on maximum sum assured (subject to underwriting.)

What is a money-back policy?

Imagine that you have been saving money for your child’s marriage for years. You have put your savings in fixed deposits or other traditional instruments that offer you a minimal rate of interest, but with no risk attached to it at all. However, years before you thought you would actually need the money, your child wants funds for further education. Now, the only way for you to access your own savings is by breaking the deposit, losing further interest additions, and starting all over again.

It is not a pretty picture, is it? However, the truth is life is full of unplanned surprises. All you can do is focus on doing your best to plan and make provisions for your family’s future. By concentrating only on long-term goals, you might end up missing out on supporting your family through special moments in the here and now. What you need is a regular inflow of cash to meet short- and medium-term milestones so you can ensure your family’s happiness and comfort, come what may.

This is where a money-back insurance plan can help you. As the name suggests, a money-back plan ensures that you get your money back when you need it. Such a cash back policy offers you the sum assured upon maturity, regular pay-outs at periodic intervals, and comprehensive life cover. With a money-back savings insurance, you can live worry-free because you know that the financial obligations you have in the years to come will be taken care of.

At crucial points in your life, a money-back policy gives you guaranteed pay-outs. By regularly returning a predetermined percentage of the sum assured in the guaranteed savings plan, your chosen plan acts as your friend when you are in need.

Why do I need a cash back policy?

Should you spend money on a short family holiday or pay for annual art classes for your child? Life is full of such choices and prioritising expenses becomes the only way to go about making these choices. But what if your traditional savings plan can help make these choices unnecessary?

With the right money-back life insurance policy, you no longer need to choose between your dreams. These traditional money savings plans offer an influx of money at regular intervals so you can meet any sudden expenses with ease. In addition, a cash back plan also offers a lump sum amount at maturity, and all the benefits of a traditional life insurance plan in India.

Cash back plans are a superb choice for those who are risk-averse. With guaranteed risk-free returns, you know exactly what you will get beforehand. Unlike traditional term policies that offer no returns if you survive the policy term, a money-back insurance plan features survival benefits including the remaining sum assured after deducting periodic instalments paid to you over the years and any accrued bonus.

Get your money back when you need it the most with cash back traditional plans in India. Enjoy the benefits paid out at survival, liquidity and access to your finances, risk-free returns, life cover, and other facilities such as added insurance riders.

What are the factors to consider while buying a cash back policy in India?

Today, there are many types of savings plans to choose from. With the sheer variety of traditional covers and savings with life insurance plans in India, it is understandable to be spoilt for choice. To decide which guaranteed savings plan would work the best for you, you need to answer a few questions:

What are your financial goals?

Are you looking for a traditional savings plan that offers a lump sum benefit or something that gives you a periodic influx of money to meet smaller goals? Depending on the financial milestones you have set up for yourself, it is possible that a tidy sum of money every few years would work better for you than a larger corpus received after a decade or more.

Define your short- and long-term financial goals to understand your liquidity needs. By planning your finances and making the right choice of cash back policy, you will be better equipped to handle the different goals in your life.

What is your risk appetite?

Certain financial instruments are risky because they depend on the capital market, which can be highly volatile. Investments in mutual funds and stocks fall under this category. These are products to buy only if you have a high-risk appetite and want to invest aggressively.

Traditional insurance plans are not linked to the market and are not subject to falling fund values. These plans are great for those who are risk-averse. A cash back plan presents minimal risk and guaranteed returns. You could also choose to invest in a mixed basket of high- and low-risk investment products to hedge your bets.

How much can you invest right now?

For saving money, it is important to start where you are and with whatever amount you have. The power of compounding ensures that the smallest of investments can grow exponentially if given enough time. Depending on the money-back insurance plan you choose, there will be a minimum premium threshold. For instance, the least you can invest in IndiaFirst Life Cash Back Plan is Rs. 522 a month or Rs 6,000 a year.

How often can you make premium payments?

Most types of traditional insurance plans afford you the convenience of making premium payments in different modes. IndiaFirst Life Cash Back Plan offers monthly, quarterly, half-yearly, and yearly premium payment options. If you think it would be better to break the payments down, opt for a monthly or quarterly option. If getting done with your investment payments for the year in one fell swoop appeals to you, go for half-yearly or yearly premium payment options.

How long do you want to stay invested?

Some people prefer short-term investments while others want to make the most of compounding interest by making their money work for them for longer periods. Decide how long you would like to stay invested, and then choose a money-back life insurance policy that features the policy term you want.

What are your tax requirements?

Under Section 80C of the Income Tax Act (1961), you can reduce your taxable income and save on tax payments by investing up to Rs. 1.5 lakhs. As directed by the prevailing tax norms, the premiums paid and benefits received under traditional insurance plans could offer you tax benefits. Furthermore, the sum assured received upon maturity or death of the policy holder is also tax-free, under Section 10(10D) of the Income Tax Act of 1961.

How to choose a money-back savings policy?

After factoring in your personal requirements, you will be better placed to choose from the many types of traditional insurance policies. Research your selections and understand the premium term options, features of the plan, any inclusions and exclusions, pay-out options, and eligibility criteria.

When choosing a cash back policy, the goal is to ensure that you get the maximum benefits from your selected policy.

Pick the right tenure

With policy periods ranging from 5 to 20 years, it is necessary for you to weigh the pros and cons of the tenure you decide upon. Check for how long you will have to pay regular premiums, and how many years of traditional cover you will get after you are done paying the premiums.

Confirm the percentage of sum assured to be received in instalments

Money saving plans pay you ‘Survival Benefits’ in the form of pay-outs at regular intervals. You should ascertain the exact percentage of the sum assured that will be released to you periodically. Do the math to ensure that the money you will receive will be enough to cover potential expenses you may have.

Check the frequency of pay-outs

Some money-back savings plans offer pay-outs every five years, while others release survival benefits every three years. Verify this duration to help you choose the right cash back policy for you.

Ascertain potential tax benefits

Prospective policy holders should check if the money-back savings plan they have chosen offers tax benefits. Some policies may not give tax benefits if a percentage of the sum assured is being offered as survival benefit.

Explore the possibility of adding riders

Most traditional savings insurance plans provide the life assured the opportunity to add riders and additional cover to their policy. Typical riders include accidental death, critical illness, and disability.

Why should I buy IndiaFirst Life Cash Back Plan?

IndiaFirst Life Cash Back Plan is a non-linked, non-participating, limited premium, money-back insurance plan that offers you all the benefits of a traditional insurance plan and so much more. This plan provides periodic pay-outs and security for your family, irrespective of the difficulties of life.

While it is important to focus on your destination, it is equally essential to enjoy the journey. If you only plan for long-term goals, immediate and short-term goal-related expenses will catch you off-guard.

IndiaFirst Life Cash Back Plan helps you meet your short- and medium-term goals with the same fervour. Whether you need money to pay for your first car, put a down payment on your first home, pay for your child’s education, or marriage, this cash back plan ensures that you receive guaranteed pay-outs at regular intervals—just in time to meet your goals.

Even in case of the life assured’s unfortunate demise, this money-back insurance plan takes care of your family’s future by paying a lump sum amount equal to whichever is higher—10 times the annualised premium or the sum assured with accumulated guaranteed additions.

What are the features of IndiaFirst Life Cash Back Plan?

IndiaFirst Life Cash Back Plan is a special plan that offers you many short-and long-term financial advantages. Here are some key features that make this traditional money savings plan the right fit for you:

Minimal risk exposure

Financial products like stocks and mutual funds present the prospect of earning high returns, but they also demand a high-risk appetite. Volatile changes in the capital market make investments in such financial instruments a risky venture. However, this is not a problem you would face with traditional insurance plans in India. As an insurance-cum-savings policy, IndiaFirst Life Cash Back Plan is perfect for the risk-averse. Not only will you enjoy low risk exposure, but you will also get all traditional plan benefits.

Regular income pay-outs

A much sought-after savings plan benefit with money-back policies is the pay-out of regular income. These are payments made at systematic intervals during the policy period. Making up a percentage of the sum assured, these periodic pay-outs are of a predetermined amount, depending on your policy details. IndiaFirst Life Cash Back Plan offers three policy terms (9, 12, and 15 years) with periodic pay-outs every three years.

Limited payments, regular benefits

IndiaFirst Life Cash Back Plan is a limited premium traditional insurance savings policy. You can choose to pay premiums during your earning years (5, 7, and 10 years) but stay invested for the entire policy term (9, 12, and 15 years), during which you will continue accruing interest and accumulated benefits. Pay for a limited period under the policy and enjoy periodic pay-back through the cash back policy term.

Lump sum pay-out to secure your future

At the end of the cash back policy term, you will get a lump sum pay-out as maturity benefit. This traditional insurance savings policy offers a risk cover equal to 10 times the annualised premium or sum assured on maturity along with accumulated guaranteed additions, whichever is higher.

Guaranteed additions

Enjoy the boost of guaranteed additions that are paid into your money-back policy after completion of every policy year. Depending on your chosen policy term, you stand to gain 5-7% of the annualised premium at every policy year end as guaranteed additions.

Life cover

IndiaFirst Life Cash Back Plan is a traditional savings plan that offers life insurance coverage and regular pay-outs during the policy term. As a life insurance policy, this plan has your family covered in case of your unfortunate demise. The death benefit payable is higher of 10 times the annualized premium or 105% of all premiums paid, excluding applicable taxes and extra premium/rider premium, if any, as on date of death or guaranteed sum assured on maturity.

Tax benefits

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.

Freelook period

With the IndiaFirst Life Cash Back Plan, you have complete freedom to try the policy and check if it meets your needs. If you do not agree with the policy terms and conditions, you can return this money-back life insurance policy within the freelook period of 15 days from the receipt of the policy.

Who should buy IndiaFirst Life Cash Back Plan?

IndiaFirst Life Cash Back Plan offers traditional plan benefits with a cherry on the top. With the option to pay limited premiums, receive guaranteed pay-outs, and get life cover beyond the premium payment term, this savings plan gives you multiple benefits under one umbrella.

This is the savings insurance policy for you, if:

  • You want the peace of mind that your family will be taken care of in your absence
  • You want a regular influx of money or guaranteed income pay-outs
  • You want your family to get a lump sum amount in case of your untimely demise
  • You want to add additional riders in your traditional insurance policy
  • You want to avail tax benefits on your investment
  • You want flexibility when it comes to premium payments

What are the eligibility criteria for IndiaFirst Life Cash Back Plan?

  • For a 9-year plan, the minimum age for applying is 15 years and maximum age is 45 years, respectively
  • For a 12-year plan, the minimum age for applying is 15 years and maximum age is 50 years, respectively
  • For a 15-year plan, the minimum age for applying is 15 years and maximum age is 55 years, respectively
  • The maximum age at the time of maturity is 70 years
  • Minimum sum assured is Rs.50,000. There is no limit on maximum sum assured (subject to underwriting).


  • What is a money-back plan?

    A money-back savings insurance policy provides pay-outs at periodic intervals and a lump sum amount upon maturity. The periodic pay-outs or survival benefits are staggered throughout the policy duration offering you liquidity and peace of mind. This plan also offers traditional life cover during the policy term.

  • Is it better to buy a cash back policy or term insurance?

    A term insurance is a no-frills traditional insurance policy that covers your life for a pre-determined period. In case of the policy holder’s untimely demise during the plan period, the beneficiaries receive a lump sum death benefit. However, if you survive the period covered under your plan, no pay-out will be made to you.

    Conversely, a money-back plan offers all traditional plan benefits, including life cover and sum assured as death benefit. Additionally, a cash back policy also offers periodic survival benefits, limited premium payment facility, and the remaining sum assured upon maturity of the plan.

    Weigh the pros and cons against what you require, and make an informed choice.

  • What happens if I miss premium payments on my IndiaFirst Life Cash Back Plan?

    If you miss paying your premiums before two years are up (minimum number of years premium needs to be paid to have paid-up value), the policy will lapse and no benefits will be payable during the proffered revival period.

    If you miss payments after your policy has acquired a guaranteed paid-up value, you stand to receive the paid-up value upon maturity or on death, but survival benefit and guaranteed additions will not be payable on a lapsed policy.

    This policy has a grace period of 30 days for yearly, half-yearly and quarterly frequencies, and 15 days for monthly frequency from the premium due date. If a payment is not made during the grace period, the policy will lapse.

  • Is it possible to renew/revive my money-back plan?

    Yes, you may revive your policy as long as you do it within five years from the due date of the first unpaid premium but before the maturity date. No benefits will be payable during this period other than the paid-up value, if any, in the event of death.

  • Can I transfer my policy?

    It is currently not possible to transfer the cash back policy. While it is not recommended, you can choose to surrender your policy. The policy can be surrendered for an immediate cash pay-out any time after acquiring the paid-up value.

  • How do I surrender my IndiaFirst Life Cash Back Plan?

    Your cash back plan can be surrendered after it attains its paid-up value (after 2 years of full premium payments). The surrender value of the cash back policy will depend on the tenure and the number of paid premiums.

    Early termination value will be paid when the policy is terminated by the policyholder or on the completion of revival period or upon death, whichever is earlier. IndiaFirst Life Cash Back Plan will acquire early termination value after completion of one policy year provided at least one full year's premium is paid and the policy lapsed before acquiring any paid-up value.


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