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Regular/ Limited - Monthly, Half Yearly, Yearly
Single Premium - Onetime payment only
No limit subject to underwriting
| Age Band | For Regular Premium Policies | For Limited(5 Yrs) Premium Policies ) | For Limited(7 Yrs) Premium Policies | For Single Premium Policies(5 Term) | For Single Premium Policies(Other than 5 Term) |
|---|---|---|---|---|---|
| 5-25 | 40 | 25 | 25 | 10 | 5 |
| 26-30 | 40 | 20 | 25 | 10 | 5 |
| 31-35 | 40 | 15 | 20 | 10 | 4 |
| 36-39 | 35 | 10 | 15 | 10 | 2 |
| 40-45 | 30 | 7 | 10 | 2 | 2 |
| 46-65 | 7 | 7 | 7 | 1.25 | 1.25 |
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)
Yes, we will deduct the applicable taxes in accordance with the applicable provisions of Indian tax laws on all the applicable charges levied by us under this Policy. The taxes deducted by us in addition to the charges under the policy. The tax rates are subject to change basis any change in the directives issued by the Government.
You can protect your fund value from market fluctuations by transferring your money to a ‘Liquid1’ Fund during the last three years of your policy. A reminder about this option will be sent to you three years prior to the end of your policy term with further details about the same.
How does the transfer of fund value to the Liquid1 Fund actually happen?
3% of your fund value in each of the policy funds will be automatically switched to the Liquid1 Fund in each of the last thirty six monthly anniversaries prior to end of the policy term.
Does the proportionate allocation of remaining funds change on transfer to the Liquid1 Fund?
No. When we transfer your funds to the Liquid1 Fund, the ratio in which your remaining funds are allocated does not change.
How are funds deployed under the Liquid1 Fund?
| Fund Name | What does the fund do? | Asset allocation | Risk profile | ||
|---|---|---|---|---|---|
| Equity | Debt market | Money | |||
| Liquid1 Fund | Provides steady returns achieved through high proportion of money market securities. There is a low probability of negative returns in the short term | 0% | 0% to 20% | 80% to 100% | Low |
Revival of the Discontinued Policy during lock-in period
Revival of the Discontinued Policy after lock-in period
We provide you a grace period of 30 days for payment of all premiums under half yearly and yearly modes and 15 days under monthly mode. This period starts from the due date of each premium payment. All your policy benefits continue during this grace period.
Discontinuance of the Policy during the Lock-in-period
Discontinuance of the Policy after the Lock-in-period
IndiaFirst Smart Save Plan is a Unit Linked, Non Participating, Life Insurance Endowment Plan that offers market linked returns along with the security of a life cover.
The calculation of the sum assured depends on the type of the policy you hold.
Minimum Sum Assured
| Regular and Limited Premium | 7 * Annualized Premium |
|---|---|
| Single Premium | 125% of Single Premium |
*Note: The Death Benefit at any point of time will not be less than 105% of the total premiums paid.
Maximum Sum Assured
The maximum sum assured is set at ‘X’ times the annualized/ single premium for regular premium, limited premium and single premium plans. Here ‘X’ will be taken from the table below –
| Age band | For Regular Premium Policies | For Limited (5yrs) Premium Policies | For Limited (7yrs) Premium Policies | For Single Premium Policies (5Term) | For Single Premium Policies (Other than 5Term) |
|---|---|---|---|---|---|
| 5-25 | 40 | 25 | 25 | 10 | 5.00 |
| 26-30 | 40 | 20 | 25 | 10 | 5.00 |
| 31-35 | 40 | 15 | 20 | 10 | 4.00 |
| 36-39 | 35 | 10 | 15 | 10 | 2.00 |
| 40-45 | 30 | 7 | 10 | 2 | 2.00 |
| 46-65 | 7 | 7 | 7 | 1.25 | 1.25 |
Where Annualized Premium means the premium amount payable in a year excluding the taxes, rider premiums and underwriting extra premium on riders, if any.
| Premium Payment Option | Policy Term | Premium Paying Term |
|---|---|---|
| Regular Premium | 10 to 70 years | Equal to the Policy Term |
| Limited Premium | 10 to 25 years | 5, 7 years |
| Single Premium | 5 to 20 years | One-time payment only |
| Parameter | Minimum | Maximum |
|---|---|---|
| Age at entry (as on last birthday) | 5 years | 65 years |
| Age at maturity (as on last birthday) | 18 years | 75 years |
Life cover for the minor life starts at the end of two years from the date of commencement of the policy or at the first monthly policy anniversary after attainment of age 18 years whichever is earlier. In case the Life Assured is a minor, the policy will vest on the Life Assured on attainment of age 18 years. If the Life Assured is a minor then, on death of Policyholder, the Policy immediately and automatically vest in the surviving parent of the Life Assured.
| Premium Payment Option | Premium Frequency |
|---|---|
| Regular/ Limited Premium | Monthly, Half Yearly, Yearly |
| Single Premium | Onetime payment only |
| Minimum Premium | Monthly | Half Yearly | Yearly |
|---|---|---|---|
| Regular Premium | Rs.1,000 | Rs.6,000 | Rs.12,000 |
| Limited Premium | Rs.1,250 | Rs.7,500 | Rs.15,000 |
| Single Premium | - | - | Rs.45,000 |
| Maximum Premium | No limit subject to underwriting | ||
You receive the fund value at the end of the policy term.
What are the payout options at the end of the policy term?
On maturity you may choose to -
When does the settlement period start?
Your settlement period starts from the maturity date and is applicable up to a period of 5 years. First instalment under settlement option shall be payable on the date of maturity. However, you have to opt for the Settlement Option at least 3 months prior to the date of maturity.
Does the life cover benefit continue during the settlement period?
Yes, in case of the Life Assured’s demise during settlement period, we will pay the higher of fund value as on the date of intimation of death or 105% of total premiums paid, to the Nominee / Appointee / Legal Heir and the policy shall terminate immediately. However, on complete withdrawal during settlement periodlifecoverceases immediately.
Who bears the investment risk during the settlement period?
The investment & inherent risks will be borne by the policyholder during the settlement period.
Are you allowed to make switches/ partial withdrawals during the settlement period?
No, switches/ partial withdrawals are not allowed during the settlement period.
In the event of the life assured’s demise while the policy is in force or from the due date of first unpaid premium till the expiry of the grace period, the Nominee / Appointee/ Legal Heir, as the case may be, will receive the benefit under the policy equal to higher of fund value as on date of death or sum assured, either
The amount will be paid out to the appointee if the nominee is a minor. However, at any point of time, the death benefit will not be less than 105% of the total premiums paid during the policy term.
In case of paid-up policies, on death of the life assured, an amount equal to the higher of the paid-up sum assured or fund value will be payable to the Nominee/ Appointee/ Legal Heir, as per the payout option selected by the policyholder at the inception of the policy.
In case of the life assured’s demise, where the Life Assured is a minor and the commencement of life cover is yet to begin, the death benefit will be equal to the Fund Value.
Yes. You may access your money in case of any financial emergency, by withdrawing partially. Partial withdrawal is allowed after life assured attains age 18 years.
| Regular/ Limited premium | Single premium |
|---|---|
| If you have paid your premiums for the first 5 years, you can withdraw your money partially after the fifth policy year. | You can withdraw after completion of the fifth policy year. |
Are there any limits on partial withdrawals?
| Minimum withdrawal | Maximum withdrawal – Regular/ Limited premium | Maximum withdrawal – Single premium |
|---|---|---|
| Rs.5,000 | 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 | Fund value after the withdrawal should not be less than Rs.45,000 |
Example: You can withdraw up to Rs.20,000 if you pay an annual premium of Rs.15,000 and have accumulated a fund value of Rs.80,000 over a few years (25% of the fund value).
There are no partial withdrawal charges applicable.
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The IndiaFirst Money Balance Plan is a unit-linked life insurance endowment policy that combines the advantages of wealth creation and life cover.
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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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