Building a life full of certainties is easier than you may think. You can plan for the well‑being of those we love in a few simple and consistent steps. The IndiaFirst Life Super Protection Plan offers a robust life insurance solution that allows you to take care of your loved ones and their future. It ensures that your family maintains financial stability in your absence.
Key Features of IndiaFirst Life Super Protection Plan
The Super Protection Plan is a non‑linked, non‑participating product. It blends risk cover with savings. You pay premiums for a limited term and receive life cover up to age 85 (or age 99 under the extended option). A return‑of‑premium benefit ensures you do not lose out if you survive the policy term. The plan also covers terminal illness in full.
1. Flexible Premium‑Paying Terms#
You choose the premium payment duration based on the options available. This includes single‑pay, limited‑pay, or regular premium modes. Premiums can be annual, half‑yearly, quarterly or monthly. You match your cash flow with payment frequency. This flexibility helps you manage household budgets efficiently.
2. Comprehensive Coverage Options
The plan offers two main options:
- Life Option – Provides pure risk cover
- Return‑of‑Premium Option – Pays back all premiums on maturity, provided the policy is in force
Under both options, the death benefit equals the higher of:
- Sum assured
- A multiple of annualised premium
- A percentage of total premiums paid
3. Life‑stage Sum Assured Enhancements
Your needs evolve over time. The term insurance plan accommodates significant life events. You can increase your sum assured at key stages such as marriage or home purchase. This feature requires minimal underwriting. It helps your cover keep pace with rising responsibilities.
4. Payout Flexibility
On a claim, the Super Protection Plan lets you choose how your family receives funds. You can opt for a single lump sum payment. Alternatively, you can split the payout into a portion today and equal monthly instalments over five years. This flexibility ensures ongoing support for living expenses, education and other recurring costs.
5. Return of Premium Benefit
If you select the Return of Premium Option, you receive 100% of the total premiums paid at maturity. This feature acts as a forced savings mechanism. It rewards prudence and discipline. It also offers peace of mind, knowing that your premiums are not simply an expense.
6. Terminal Illness Cover
Life‑threatening illness can strike at any time. You can opt for a term rider like the terminal illness cover to receive a full pay‑out on diagnosis of terminal illness, subject to policy terms. This immediate benefit helps cover medical bills and supports your family’s financial needs in difficult times.
7. Optional Riders
Enhance your core cover with riders. Available riders include:
These riders cost extra but deliver valuable extra protection when you need it most.
8. Policy Loan Facility
If you need access to funds, the policy can be a source of loans for you. The plan allows the policyholder to borrow up to 80% of the surrender value. The interest rate links to the prevailing 10‑year government security yield plus a fixed margin. This facility offers quick access to funds without disturbing your family cover.
9. High Sum Assured Rebate
If you opt for higher cover, you benefit from premium rebates. The plan provides rate concessions for sum assured above ₹75 lakh. This feature makes it more affordable to secure larger amounts of protection for your loved ones.
10. Grace Period and Revival
The policy includes a 15‑day grace period for monthly premiums and 30 days for other modes. If you miss a payment, you can revive the policy within five years. Revival requires payment of arrears plus interest. You may also need to satisfy underwriting requirements. This flexibility prevents unintended lapses.
11. Free Look and Surrender
The policy comes with a 30‑day free look period from the date of policy issuance. During this time, you can return the policy for a full refund minus pro‑rata risk charges and expenses. After the free‑look, you can surrender the policy and access guaranteed and special surrender values, as applicable.
12. Tax Benefits
Premiums paid and benefits received under this plan qualify for tax benefits under prevailing Indian income tax laws. These provisions help reduce your taxable income today and provide tax‑efficient benefits to your family later, subject to change with tax regulations. #
Why Choose IndiaFirst Life?
IndiaFirst Life is a joint venture of leading public sector banks and global investors. It brings together banking expertise and insurance innovation. The Super Protection Plan reflects this synergy. It offers competitive pricing, straightforward terms, and a focus on customer convenience. It offers a range of life insurance plans for varying needs, so you may easily secure your family’s future. Plans can be purchased online as well as offline.
Financial security for your family should never be left to chance. The IndiaFirst Life Super Protection Plan provides a comprehensive safety net. It offers flexible premium options, life‑stage enhancements, return of premium benefits and optional riders. Terminal illness covers and policy loan facilities add further value. With tax benefits and credible backing, this plan is a smart choice. Protect your loved ones with confidence. Choose the IndiaFirst Life Super Protection Plan today.
Disclaimers:
IndiaFirst Life Insurance Company Limited, IRDAI Regn No.143, CIN: U66010MH2008PLC183679, Address: 12th & 13th floor, North Tower, Building 4, Nesco IT Park, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai – 400 063.
Toll free No – 18002098700.
Email id: customer.first@indiafirstlife.com
Website: www.indiafirstlife.com.
Fax No.: 912268570600.
IndiaFirst Life Super Protection Plan (UIN 143N075V01).
For more details on risk factors and terms and conditions, please read the sales brochure carefully before concluding the sale. Trade logo displayed above belongs to our promoter M/s Bank of Baroda and is used by IndiaFirst Life Insurance Co. Ltd under License. Purchase of any Insurance product by Bank’s Customer is purely voluntary, and is not linked to availment of any other facility from the Bank.
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