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How people have benefitted from IndiaFirst Life
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
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
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)
IndiaFirst Life Plan is a pure protection policy which offers an insurance cover on your life. The policy secures your family members/ loved ones in case of unfortunate event of the life assured’s demise. This plan can also be bought online.
This policy may include the ‘Life Assured’, the ‘Policyholder’, the ‘Nominee(s)’ and the ‘Appointee’.
Who is a Life Assured’?
Life assured is the person, on whose life the policy depends. The policy ends and the benefit is paid out on the life assured’s death.
| Maximum age at the time of applying for the policy | 60 years as on the last birthday |
| Maximum age at end of the policy term | 80 years as on the last birthday |
| Minimum age at the time of applying for the policy | 18 years as on the last birthday |
Who is a Policyholder?
A Policyholder is the person who holds the policy. The Policyholder may or may not be the life assured. A Policyholder must be at least 18 years old while applying for the policy. You can choose a nominee under than policy if you and the life assured are the same.
Who is a Nominee(s)?
A nominee(s) is the beneficiary under the policy who receives the death benefit in case of the life assured’s demise. The nominee(s) is appointed by you, the policyholder. The nominee(s) can even be a minor (i.e. below 18 years of age).
Who is the Appointee?
An appointee is the person you can nominate at the time of buying the policy in case your nominee(s) is a minor. The appointee receives the benefits under the policy and holds the same till the nominee(s) attains 18 years of age.
The life cover is the sum assured opted for which you take the policy. However, you have the option to select your life cover as per your requirements.
| Minimum life cover / sum assured | Maximum life cover / sum assured |
|---|---|
| ₹1,00,000 | ₹50,00,00,000 |
*The life cover should be in multiples of ₹1,000
| Regular Premium | Single Premium |
|---|---|
| 5 to 40 years | 5 to 40 years |
Yes, you can cancel your policy if you disagree with any of the terms and conditions within the first 30 days (free look period) from receipt of your policy document, whether received electronically or otherwise. You can return the policy to us, while stating your specific objections.
We will return your premium as follows –
Premium paid
Less: i. Risk Premium for the period you were covered under the policy
ii. Charges towards medical examination, if any
iii. Stamp duty charges
Yes. You have the flexibility to surrender your policy.
| Regular premium | Single premium |
|---|---|
| No Unexpired Risk Premium value payable | Unexpired Risk Premium value i s payable only if you surrender the policy any time after the second policy year and before the end of the policy term. It is calculated as– 40%xPremiumpaidx(Unexpired Term*/TotalPolicyTerm) |
*Unexpired term will be calculated as on the date of lapse or, in case the cover is continuing, the date of surrender.
No. Loan is not available under this policy.
| Regular premium | Single Premium |
|---|---|
| Monthly (through ECS or Direct Debit), six monthly yearly | Onetime payment only |
Premium will depend on the life assured’s age, the policy term and the sum assured.
| Premium Frequency | Minimum Premium Amount Rs |
|---|---|
| Monthly | Rs 100 |
| Six monthly | Rs 500 |
| Yearly | Rs 1,000 |
| One Time Payment | Rs 5,000 |
The mode of premium payment and frequency will also impact the premium amount. The following premium frequency factors for monthly and Half Yearly policies will apply on the yearly premium to get instalment premium.
| Premium Frequency | Factor To Be Applied To Yearly Premium |
|---|---|
| Monthly | 0.0870 |
| Half Yearly | 0.5119 |
In the unfortunate event of the life assured’s demise during the policy period, the nominee (the person chosen to receive the benefits) will get a lump sum amount. This amount is equal to the sum assured. Not just that, the death benefit paid to the nominee(s) will be more than 105% of all the premiums paid at any point in time.
There is no maturity or survival benefit payable under this policy. This is a non participating pure term insurance policy.
We provide you a grace period of 30 days in case of six monthly or yearly premium mode and 15 days in case of monthly premium mode. This period starts from the due date of each premium payment. All your policy benefits continue during this grace period. In case of death during the grace period we will pay the sum assured to the nominee/appointee/legal heir after deducting the due premium.
If you do not pay your premiums before the end of the grace period, your life cover ceases and your policy will lapse.
You can revive your policy within a specified period of five years, if you have been unable to pay premiums due to constraints by–
Are there any constraints to revive your policy?
Yes. You can 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. The revival is subject to satisfactory medical and financial requirements raised by the Company, and board approved underwriting guidelines The medical cost, if any to be borne by you.
If someone covered by the term plan policy, unfortunately, passes away due to suicide within the first 12 months from when the policy started or was revived, the nominee or beneficiary will receive support. They will be entitled to 80% of the total premiums paid till the date of death or the Unexpired Risk Premium value available as on the date of death – whichever is higher. This applies as long as the policy is in force.
Need a protection plan that is tailored especially for your needs? Look no further! This plan aims to give you and your family financial security in an easy and convenient way.
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IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
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12th and 13th Floor, North [C] wing, Tower 4, Nesco IT Park, Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400063.
IRDAI Information
IRDAI Regd. No. 143 | CIN: U66010MH2008PLC183679Trade logo displayed above belongs to one of our promoters and shareholders, Bank of Baroda and are used by IndiaFirst Life Insurance Company Limited under License.
For more details on risk factors, associated terms and conditions and exclusions please read the product brochure before concluding a sale.
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