Choosing the right life insurance policy involves balancing protection, growth, and flexibility. The IndiaFirst Life Radiance Smart Invest Plan combines a robust death benefit with market‑linked wealth creation, automated strategies and liquidity options. Here, we take a closer look at the features and benefits of IndiaFirst Life Radiance Smart Invest Plan. Getting acquainted with the key benefits and features of IndiaFirst Life Radiance Smart Invest Plan can help you understand how this plan functions, the purpose it serves, and whether it is the right option for you.
Plan Options for Radiance Smart Invest
The Radiance Smart Invest Plan offers three options to tailor your cover.
Life Option
The plan offers pure life coverage. This means upon death; beneficiaries receive the higher of sum assured or fund value.
Extra Shield Option
Adds an accidental death benefit (up to ₹1 crore) in addition to the life cover.
Family Care Option
Waiver of future premiums on death, with maturity benefit paid to nominee.
Guaranteed Death Benefit
During the term, the guaranteed death settlement would be at least 105% of total premiums paid (less withdrawals).
During settlement, the nominee shall receive the higher value between fund value or 105% of premiums paid.
These guarantees ensure your family receives substantial support, making this a standout benefit of IndiaFirst Life Radiance Smart Invest Plan.
Market‑linked Wealth Creation
Beyond protection, this ULIP empowers you to grow your savings:
Ten Fund Choices
Equity, debt, balanced, and liquid funds options to match your risk profile.
Zero Allocation & Admin Charges
100% of premium is invested without any additional fees deducted.
Return of Mortality Charges
All mortality charges paid during the term are returned at maturity, subject to policy continuance.
These features of IndiaFirst Life Radiance Smart Invest Plan ensure maximum exposure to markets, reinforcing its appeal among ULIP plans.
Flexible Investment Strategies
To optimise returns and manage risk, the plan offers six automatic strategies.
Strategy
| Description
|
Automatic Trigger‑based
| Locks in equity gains above 10% by switching to debt.
|
Fund Transfer
| The plan employs the concept of rupee‑cost averaging and shifts funds from debt to equity over the first 12 months.
|
Age‑based
| Gradually reduces equity exposure as you age.
|
Smart Switch
| In final 5 years, moves to liquid fund to protect gains.
|
Defined Allocation
| You set target fund weights; semi‑annual rebalancing maintains the mix.
|
Self‑Managed
| Unlimited free switches; full control over fund choices.
|
Such automation simplifies management, helping even busy professionals acquire benefits without constant monitoring.
Maturity and Settlement Options
At policy maturity you can choose either of the following options:
Lump Sum Payout
As per this option, you can receive the entire fund value as a lump sum payment. Additionally, you will receive the mortality charges that were deducted during the term of the plan.
Settlement Plan
As per this maturity option, the maturity proceeds will be over a period of 5 years. You can choose to have instalments of the maturity proceeds paid to you on a monthly or quarterly basis.
This flexibility in disbursal is a distinct benefit of IndiaFirst Life Radiance Smart Invest Plan, particularly for those seeking structured income after plan maturity.
Liquidity and Policy Alterations
Life plans must adapt as circumstances change. Radiance Smart Invest delivers:
Partial Withdrawals
From end of Year 5, you may be able to withdraw an amount between the range of ₹10,000 and 20% of fund value per year.
Systematic Partial Withdrawal
Systematic Partial Withdrawal is available after five policy years if the life assured is 18 or older. Withdrawals must range between ₹1,000 and 25% of the fund value per year, and can be made monthly, quarterly, half-yearly, or annually.
Unlimited Free Switches
Free switches allow policyholders to shift investments between fund options (equity, debt, etc.) without charges. This feature offers flexibility, optimises returns, and allows fund reallocation based on market trends and personal goals. You can reallocate funds any time at no extra cost (within IRDAI limits).
Policy Changes
You can make changes to your policy as per your convenience. You can change premium frequency, increase or decrease the term, or reduce sum assured (after 10 years) along with a one-time removal of accidental cover.
With these provisions, the Radiance Smart Invest Plan offers ULIP features to ensure ease and flexibility for the policyholder.
Expert Support and Tax Advantages
Apart from the life coverage and investment benefits, life insurance also offers tax benefits. Here are a few additional benefits that the Radiance Smart Invest Plan offers:
Such support and savings enhance the overall value proposition of the IndiaFirst Life Radiance Smart Invest Plan.
Planning with a ULIP Calculator
Before investing, use a ULIP calculator to project fund values under different market scenarios and premium levels. This tool can help you to:
1. Visualise potential maturity proceeds
2. Test the impact of different fund allocations
3. Estimate the effect of partial withdrawals or settlement plans
Using a calculator to draw estimates can help you choose a strategy aligned to your goals.
Why Choose This Plan?
When evaluating life insurance plans, consider:
Protection:
Guaranteed death benefits up to 105% of premiums.
Growth:
Ten fund options and zero fees maximise returns.
Flexibility:
Automated strategies, withdrawals and policy alterations.
Support:
Expert advice and tax reliefs.
The IndiaFirst Life Radiance Smart Invest Plan stands out by seamlessly integrating these elements into one cohesive solution.
The IndiaFirst Life Radiance Smart Invest Plan marries solid life protection with market‑linked investment potential and extensive flexibility. Its guaranteed death benefit, diverse funds, automated strategies and liquidity features cater to both novice and seasoned investors. With expert support and tax advantages, it represents a compelling choice among ULIP plans. Use a ULIP calculator to model your outcomes and consider making Radiance Smart Invest the cornerstone of your financial security and wealth‑creation journey.
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