IndiaFirst Life Guaranteed Pension Plan

(Non-Linked, Non-Participating, Individual, Savings Deferred Annuity Plan)

Step into worry-free retirement planning with IndiaFirst Life Guaranteed Pension Plan. Enjoy peace of mind knowing your future is protected. Secure lifelong income with added benefits and protection from critical illness.

Income for Life
5 Annuity Choices
Joint Life Security
Escalating Annuity option
Guaranteed Return of Purchase Price
Lifetime Protection
Critical Illness Cover

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Overview
Key Features
How to Buy
Sample Illustration
Eligibility Criteria
Customer Feedback
FAQ

Key features of IndiaFirst Life Guaranteed Pension Plan

Return of Purchase Price option

Protect family with premium amount returned in case of an unfortunate event through retirement benefit plan

Limited Payment Lifetime Annuity

Pay for 5 to 10 years, enjoy lifelong retirement insurance benefits.

Single & Joint Life Annuity

Tailored retirement planning for you or your loved ones.

Escalating Life Annuity

Choose this option to receive an annuity growing at a guaranteed rate.

Critical Illness Coverage

Shield from 20 critical illnesses, get the purchase price.

Regular Annuity Income

Stable income through your retirement years.

Process of buying a Guaranteed Pension plan

Step 1

Plan Funding

Decide how much you want to pay into your retirement plan regularly, as per your financial budget.

Step 2

Customise Your Plan

Choose policy term and various coverage options and tailor your plan to meet your needs.

Step 3

Review Details

Check the details of your insurance plan and the premium amount.

Step 4

Secure Your Plan

Make a secure online payment and review your retirement policy details.

Visualize Your Plan

Rajesh

Age 55

Rajesh opts for a policy with a premium payment term of 10 years and chose life annuity with return of purchase price on death option

Age 55-65

Rajesh pays an annual premium of ₹2,00,000.

Age 66 and above

Rajesh receives an annual income payout of ₹1,70,108 till he is alive

Age 75

In the unfortunate event of Rajesh's passing, his wife receives a payout i.e. 21,23, 498

Eligibility Criteria

Age
Policy Term
Premium payment term
Annual premium

நுழைவு வயது

Question: நுழைவு வயது
Answer: குறைந்தபட்சம்: அனைத்து விருப்பங்களின் கீழ் கடந்த பிறந்தநாளின்படி 45 வயது

அதிகபட்சம்: அனைத்து விருப்பங்களின் கீழ் கடந்த பிறந்தநாளின்படி 80 வயது
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Policy term

Question: Policy term
Answer: Whole Life Plan
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Premium payment term

Question: Premium payment term
Answer: Limited Premium: 5/ 6/ 7/ 8/ 9/ 10 years
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Annual premium

Question: Annual premium
Answer: Minimum: ₹50,000/-
Maximum: No limit. The maximum premium depends on Annuity Amount
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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)

How can we help?

View All FAQ

General

Premiums and Payments

Claim and Beneficiary

What is the IndiaFirst Life Guaranteed Pension Plan?

Answer: This a Non-Linked, Non-Participating, Individual, Savings Deferred Annuity Plan which provides a shorter pay commitment (5, 6,7,8,9 or 10 years), but also gives you the benefit of a lifetime of assured annuity income. You get to choose from 5 different annuity options as you safeguard your retirement years with yearly, half yearly, quarterly or monthly annuity. The return of purchase price options ensure that you and your loved ones are taken care of in case of death or even in diagnosis of critical illnesses. You can choose to buy the annuity just for your retirement years under the single life or even choose to protect your loved ones with the joint life option in the policy.

What are your options to revive the policy?

Answer

You may revive the lapsed Policy within the revival period of 5 years from the due date of first unpaid premium by:

paying all unpaid due Premiums along with applicable interest
providing a declaration of good health and undergoing a medical examination at your own cost, if needed.

A lapsed Policy will only be revived along with all its benefits in accordance with our Board Approved Underwriting Policy.

If the policy is revived, then all benefits as per policy T&C will be restored as for an in-force policy.

What are the tax benefits in this policy?

Answer: Tax benefits may be available on premiums paid and benefits receivable as per prevailing Income Tax Laws. These are subject to change from time to time as per the Government Tax laws. Please consult your tax consultant before buying this policy.

Can I get a loan in this policy?

Answer: You may avail a loan amount up to 80% of the available surrender value. The minimum loan amount should be Rs. 25,000.

How much can you receive as an annuity payment?

Answer

Mode of Annuity payment	Minimum Installment	Maximum Installment
Yearly	12000	No limit, subject to Board approved Underwriting policy
Half-Yearly	6000
Quarterly	3000
Monthly	1000

The minimum annuity payouts shall be in accordance with IRDAI (Minimum Limits for Annuities and Other Benefits) Regulations, 2015, as amended from time to time.

What are the annuity payment frequencies available?

Answer

You may choose to receive your annuity payments in Monthly, Quarterly, Half-yearly or Yearly frequencies as per your need. The first annuity payment will be payable at the end of every year after the completion of Premium Paying Term provided all due premiums have been paid and the policy is in-force
Annuity instalment amount will be determined by multiplying the yearly annuity rate with the factors as per annuity frequency chosen as per below table:

Annuity Payment Frequency	Factor to be multiplied with yearly annuity Rate
Yearly	1
Half-Yearly	0.49
Quarterly	0.24
Monthly	0.08

What are the annuity rates under this policy?

Answer

The annuity rates will be level and guaranteed for life in absolute terms at the time of purchasing except the Life Increasing Annuity. Such annuity amount shall become payable for as long as the annuitant survives.
The following enhancement factors will be applicable on annuity rate based on the different bands of purchase price:

Premium Bands	Enhancement Factors
50,000 to 99000	-
1,00,000 to 1,99,000	2.30%
2,00,000 to 2,99,000	3.10%
3,00,000 to 4,99,000	3.60%
5,00,000 & above	3.80

What are the premium paying frequencies available in this policy?

Answer: You can pay your premiums for a limited time in this policy. You may pay your premiums Yearly, Half Yearly, Quarterly or Monthly

What is the deferment period in this policy?

Answer: Deferment Period is equal to the Premium Paying Term under this policy. The period in years from the date of commencement of the policy during which no Annuity Amount is payable to the Annuitant is the deferment period.

What is the premium in this policy?

Answer

You may pay limited premiums in the policy based on your need.

Minimum Premium	Maximum Premium
INR 50,000/-	No limit. The maximum premium depends on Annuity Amount

The minimum premium condition is not applicable if the proceeds are from the contract issued or administered by IndiaFirst Life where compulsory purchase of annuity is required and to the subscribers of the National Pension System regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

The Purchase Price selected by the Annuitant should be such that minimum annuity installment criteria is fulfilled under any of the available annuity options available under this product from IndiaFirst Life, the policy shall not be issued.
The minimum premium should be such that minimum annuity installment criteria is fulfilled under any of the available annuity option from IndiaFirst Life.
Applicable taxes, if any will be levied on the premium and will be collected separately. The level of this taxes will be as per the rate of applicable Tax for the product, declared by the Government from time to time.

What are the Annuity options and benefits available under the policy?

Answer

S. No	Annuity Option	Survival Benefit	Death Benefit*
A	Life Annuity	SINGLE LIFE The annuity amount will be payable in arrears for the life of the annuitant, as per the annuity frequency chosen. JOINT LIFE The annuity amount will be payable in arrears for the life of the last surviving annuitant, as per the annuity frequency chosen.	SINGLE LIFE No death benefit shall be payable and the policy will terminate. JOINT LIFE On Death of First Annuitant: No death benefit will be payable. Policy will continue with full benefits for second annuitant .On Death of Second Annuitant:No death benefit shall be payable and Policy will terminate.
B	Life Increasing Annuity	SINGLE LIFE The annuity will be payable in arrears for the life of the annuitant as per the annuity frequency chosen. The annuity amount will increase every year by 5% per annum at simple rate, after completion of 20 years of annuity. JOINT LIFE Not applicable	SINGLE LIFE No death benefit shall be payable and the policy will terminate JOINT LIFE Not applicable
C	Life Annuity with Return of Purchase Price on Death	SINGLE LIFE The annuity amount will be payable in arrears for the life of the annuitant, as per the annuity frequency chosen. JOINT LIFE The annuity amount will be payable in arrears for the life of the last surviving annuitant, as per the annuity frequency chosen.	SINGLE LIFE 100% of the Purchase Price will be payable to nominee(s)/ legal heirs and the policy will terminate. JOINT LIFE On Death of First Annuitant: No death benefit will be payable. Policy will continue with full benefits for Second Annuitant. On Death of Second Annuitant: 100% of total premiums paid shall be payable to the nominee(s)/ legal heirs and policy will terminate.
D	Life Annuity with Return of Purchase Price on Death or on Critical Illness (CI)	SINGLE LIFE The annuity amount will be payable in arrears forthe life ofthe annuitant, as per the annuity frequency chosen till diagnosis of CI or death (Death or CI whichever is earlier). JOINT LIFE Not applicable	SINGLE LIFE 100% of the Purchase Price will be payable to the nominee(s)/ legal heirs in case of Death (Death or CI whichever is earlier) and Policy will terminate. JOINT LIFE Not applicable
E	Life Annuity with Return of Purchase Price on Death or in instalment on survival	SINGLE LIFE The annuity amount will be payable in arrears forthe life ofthe annuitant, aspertheannuityfrequencychosen. In addition a fixed sum (20% of Total Premiums Paid) will be payable at the end of every 5th year starting from the completion of 20 years of annuity; subject to a total of 100% of TPP, post which annuity payouts will no longer be payable. JOINT LIFE Not applicable	SINGLE LIFE 100% of the Purchase Price will be payable to the nominee(s)/ legal heirs, less sum total of additional amount paid (20% of Total Premiums Paid at the end of every 5 t h year starting from the completion of 20 years of annuity) and Policy will terminate. JOINT LIFE Not applicable

i. Annuity Option A and C are available for single life and joint life whereas other plan options will be available only for Single Life.

ii. The annuity payouts will start after the completion of Premium Paying Term provided all due premiums have been paid and the policy is in-force.

iii. *Death Benefit after the Deferment Period/ Premium Paying Term will be paid out provided all due premiums have been paid and policy is in force.

iv. In case of Death during the Deferment Period/ Premium Paying Term, provided all due premiums have been paid and policy is in-force:

Single Life: 105% of total premiums paid shall be payable to the nominee and policy will terminate
Joint Life:

o On Death of First Life – No death benefit payable. Policy will continue with full benefit on second life.

o On Death of Second Life – 105% of total premiums paid shall be payable to the nominee(s)/ legal heirs and policy will terminate

v. The First Annuitant will be the primary personen titled to receive the annuity payments ,while the Second Annuitant will been titled to receive the annuity payments in the event of the death of the First Annuitant, if applicable.

vi. A Joint life annuity would be available to all relationships wherein there is an insurable interest between the annuitants.

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