IndiaFirst Term Rider Plan

(Non Linked Rider)

A rider is an add on benefit to any base insurance plan. IndiaFirst Life Term rider plan enhances the life cover of the life assured over and above the cover offered under the chosen base plan & offers extra protection at a reasonable price. Also, your loved ones gets an immediate guaranteed lump sum payout in case of untimely death of life assured.

Additional Life Cover for up to 5-30 years
Guaranteed Lumpsum Death Benefit
Enjoy Tax Benefits on Premiums You Invest.

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Overview
Key features
How to Buy
Eligibility Criteria
Customer Feedback
FAQ

Key Features of IndiaFirst Term Rider

Additional Life Cover

Safeguard your family with an additional life cover over & above the base death benefit for a period of 5 to 30 years.

Assured Lumpsum Benefits

Receive assured lumpsum benefits immediately in case of life assured's untimely death.

Tax Benefits

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

How to Buy IndiaFirst Term Rider?

Step 1

Select Your Base Plan

Select the IndiaFirst Life Insurance Plans that suits your needs.

Step 2

Customize Your Policy

Select the policy term and premium paying term that suits your requirements.

Step 3

IndiaFirst Term Rider Enhancement

Check if the selected plan offers Term Rider plan enhancement or not.

Step 4

Receive and Review Quote

Check and review the quote generated. Ensure the plan meets your expectations and budget.

Step 5

Talk to our experts

Talk to our experts to get a better understanding of the selected plan.

Step 6

Make Payment

Review the quote generated and complete your application form with the selected plan by making the payment.

Eligibility Criteria

Age

Policy Term

Payment Premium Modes

Sum Assured

Age at Entry

Question: Age at Entry
Sequence
Answer: Minimum: 18 years
Maximum: 65 years
Tags

Policy Term

Question: Policy Term
Sequence
Answer: 5 to 30 years. Term chosen for the rider should be equal to or less than the term chosen for the base plan to which the rider is attached.
Tags

Payment Premium Modes

Question: Payment Premium Modes (LHS)
Sequence
Answer: Regular Premium: Monthly (through ECS or Direct Debit), Half Yearly, or Yearly
Single Premium: One-time payment only
Tags

Sum Assured

Question: Sum Assured (LHS)
Sequence
Answer: Minimum: ₹1,00,000
Maximum: ₹20,00,00,000
Tags

How people have benefitted from IndiaFirst Life

Hassle-free Onboarding Process

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

Pleasant Online Buying Experience

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

Trusted ally in my financial journey

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 Term Rider Plan FAQs

View All FAQ

General

Policy Types

Premiums and Payments

Claim and Beneficiary

What is IndiaFirst Term Rider?

Answer: A rider is an add-on benefit to any base insurance plan.

IndiaFirst Term Rider enhances the life cover of the life assured over and above the cover offered under the chosen base plan. In case of the life assured’s unfortunate demise, the nominee will receive the sum assured under the rider along with any death benefit amount under base plan.

What is the term of the rider?

Answer: Regular premium Single premium
5 to 30 years 5 to 30 years

Term chosen for the rider should be equal to or less than the term chosen for the base plan to which the rider is attached.

Regular premium	Single premium
5 to 30 years	5 to 30 years

What is the minimum and maximum life cover available?

Answer: Minimum sum assured Maximum sum assured
Rs 1,00,000 Rs 20,00,00,000

*The life cover should be in multiples of Rs 1,000. The maximum sum assured under IndiaFirst Term Rider cannot exceed the basic sum assured under the base plan.

Minimum sum assured	Maximum sum assured
Rs 1,00,000	Rs 20,00,00,000

What is the maximum maturity age?

Answer: The maximum maturity age should not be more than 70 years as on your last birthday or age at maturity under the base plan, whichever is lower.

What is the eligibility criteria in the policy?

Answer: The eligibility criteria for the policy is as follows-

Minimum age while applying for the plan Maximum age while applying for the plan
18 years 65 Years

Minimum age while applying for the plan	Maximum age while applying for the plan
18 years	65 Years

What are the tax benefits under this policy?

Answer: You also stand to get tax benefits on the premiums paid and benefit received as per prevailing Income Tax Laws. Tax benefits are subject to change from time to time as per the Income Tax Act, 1961. Please consult your tax consultant before investing.

What are your options to revive the policy?

Answer: If the base policy lapses, then rider policy will cease. If you do not pay your due premiums before the end of the grace period, your policy lapses. You may revive your policy within a specified period by simply paying the pending premium along with interest/Late fees from the due date of first unpaid premium.

You may revive your lapsed policy, as long as you do it within a period of five consecutive years for nonlinked products and three consecutive years for linked products from the due date of the first unpaid regular premium but before the maturity date. The revival is subject to satisfactory medical and financial requirements raised by the Company. The medical cost, if any, is to be borne by you. If you do not revive your policy by the end of the revival period, the policy terminates, and you will not be entitled to receive any benefits.

What are the premium paying modes available?

Answer: Regular premium Single premium
Monthly (through ECS or Direct Debit), six monthly, yearly One-time payment only

The rider premiums need to be paid as per the frequency chosen under the base plan. The following premium frequency factors for six monthly and monthly plans will apply on annual premiums.

Premium frequency Factor to be applied to annual premium
Six-monthly 0.5119
Monthly 0.0870

Regular premium	Single premium
Monthly (through ECS or Direct Debit), six monthly, yearly	One-time payment only

Premium frequency	Factor to be applied to annual premium
Six-monthly	0.5119
Monthly	0.0870

Can you return your policy?

Answer

Yes, you can return your policy within the Free Look period;

In case you do not agree to the any policy terms and conditions, you have the option of returning the policy to us stating the reasons thereof, within 30 days from the date of receipt of the policy whether received electronically or otherwise.

Do you get any refund when you return your policy?

Yes. We will refund an amount equal to the – Premium paid

Less: i. Pro-rata risk premium for the time the policy was in force
Less ii. Any stamp duty paid
Less iii. Expenses incurred on medical examination, if any

You are prohibited from accepting rebate in any form

Answer: Prohibition of Rebate: Section 41 of the Insurance Act, 1938, as amended from time to time, states:

No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the Plan, nor shall any person taking out or renewing or continuing a Plan accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bonafide insurance agent employed by the insurer.

Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.
For more details please refer to our website www.indiafirstlife.com.

What is the benefit payable in case of the life assured’s demise?

Answer: In the unfortunate event of the life assured’s demise during the term, the nominee will receive a lump sum amount equal to the sum assured under the IndiaFirst Term Rider.

What is maturity benefit payable under this rider?

Answer: There is no maturity or survival benefit payable under this rider.

Is there a grace period for missed premiums?

Answer: The Premiums should be paid on or before the due dates to avoid any lapsation. You are provided a Grace Period of 15 days under monthly mode and 30 days for other premium payment modes, in case you miss your due premium on the due dates.

All your policy benefits continue during this grace period and the policy will be considered to be in-force.

What happens in case the life assured commits suicide?

Answer: In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force.

What happens in case of submission of information which is false or incorrect?

Answer: Fraud/ Misstatement would be dealt with in accordance with provisions of Section 45 of the Insurance Act 1938, as amended from time to time.

Section 45 of the Insurance Act 1938, as amended from time to time states

No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e., from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later.

A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground of fraud: Provided that the insurer shall have to communicate in writing to the insured or the legal representatives or nominees or assignees of the insured the grounds and materials on which such decision is based.

Not with standing anything contained in subsection (2), no insurer shall repudiate a life insurance policy on the ground of fraud if the insured can prove that the mis-statement of or suppression of a material fact was true to the best of his knowledge and belief or that there was no deliberate intention to suppress the fact or that such mis-statement of or suppression of a material fact are within the knowledge of the insurer: Provided that in case of fraud, the onus of disproving lies upon the beneficiaries, in case the policyholder is not alive.

A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground that any statement of or suppression of a fact material to the expectancy of the life of the insured was incorrectly made in the proposal or other document on the basis of which the policy was issued or revived or rider issued: Provided that the insurer shall have to communicate in writing to the insured or the legal representatives or nominees or assignees of the insured the grounds and materials on which such decision to repudiate the policy of life insurance is based: Provided further that in case of repudiation of the policy on the ground of misstatement or suppression of a material fact, and not on the ground of fraud, the premiums collected on the policy till the date of repudiation shall be paid to the insured or the legal 5 representatives or nominees or assignees of the insured within a period of ninety days from the date of such repudiation.

Nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the Life Insured was incorrectly stated in the proposal.

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