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Ask an Expert to Buy Life Insurance

We're happy to know that you're prioritizing your family's future. Our life insurance expert will assist you in finding the best insurance plan. To schedule a call, please share some of the below details.

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Key features

Lifetime Income

Guaranteed income throughout retirement.

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Choice Flexibility

Choose the annuity plan that fits you.

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Shared Shield

Protects your spouse financially.

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Health Haven

 Get 95% back for critical illness diagnosis.

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Assured Returns

 Receive income monthly, quarterly, half-yearly, or yearly.

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Tax Benefit

 Eligible for tax benefits on premiums and benefits, as per prevailing tax laws

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Process of buying Saral Pension Plan?

Step 1

Provide Information

Share essential details such as your name, contact number, and date of birth.

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Step 2

Choose plan details

Choose your annuity amount, premium paying terms with a minimum premium of ₹1,00,000.

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Step 3

Plan Summary

A detailed plan summary will be prepared for you to review and assess your chosen pension scheme.

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Step 4

Consult Advisors

Our dedicated pension advisors will assist you with any queries and help finalise your plan.

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Eligibility Criteria

Age at Entry

Answer
  • Minimum: 40 years
  • Maximum: 80 years (70 years for policies sourced through POSP-LI & CPSC-SPV channels)

Policy Term

Answer

This is a whole life product

Premium Payment Term (PPT)

Answer

 Single premium, one-time payment 

Annuity Amount

Answer
  • Monthly: ₹1,000
  • Quarterly: ₹3,000
  •  Half-yearly: ₹6,000
  •  Yearly: ₹12,000

Premium (purchase price)

Answer
  •  Minimum: ₹1,00,000 (subject to conditions)
  • Maximum: No limit, subject to Board approved underwriting policy

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

Can you cancel this policy (Free-look)?

Answer

If you disagree with any of the terms and conditions within the first 15 days for all channels, except Distance Marketing or electronic mode where it is 30 days from receipt of the policy document, you may return the policy to the Company, while stating reasons for the same.

 

You are required to send us the original Policy document and a written request stating the reasons for cancellation, post which we will refund your Premium after deducting annuity paid, if any and stamp duty paid.

 

If the policy is a standalone immediate annuity policy, then the proceeds from cancellation shall be returned to the policyholder.

 

If the policy is purchased 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), then proceeds from freelook will be transferred back to the respective account from where purchase price was received.

 

If this policy is purchased out of proceeds of a deferred pension plan of any other insurance company, then the proceeds from cancellation will be transferred back to that insurance company.

 

Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products through the following modes: (i) Voice mode, which includes telephone calling; (ii) Short Messaging service (SMS); (iii) Electronic mode which includes e-mail, internet and interactive television (DTH); (iv) Physical mode which includes direct postal mail and newspaper & magazine inserts; and, (v) Solicitation through any means of communication other than in person.

What are the annuity options and benefits available under this policy?

Answer

We provide you with 2 different options to purchase an annuity as per your requirements. The annuity amount in these options will be payable in arrears, immediately after the commencement of the policy as per annuity payment frequency chosen by you, the annuitant. The details of each are as given below –

S. NoAnnuity Option Benefits
1.Life Annuity with Return of 100% of Purchase Price (ROP)
  • The annuity will be payable in arrears for the life of the annuitant immediately after the commencement of the policy as per annuity payment frequency chosen by the annuitant. 
  • On the death of the annuitant, the annuity payments will cease and 100% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant. Policy ceases on payment of the death benefit.
2. Joint Life Last Survivor Annuity for Life with Return of 100% of Purchase Price (ROP) on death of the last survivor
  • The annuity will be payable in arrears for the life of the annuitant immediately after the commencement of the policy as per annuity payment frequency chosen by the annuitant. 
  • The annuity will be payable in arrears for the life of the last surviving annuitant.
  •  On the death of the either annuitant, the annuity payment continues for the other annuitant. 
  • On the death of the last surviving annuitant, the annuity payments will cease and 100% of the purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant. Policy ceases on payment of death benefit. 

What are your options to revive the policy?

Answer

Revival is not applicable under this policy.

What is the IndiaFirst Life Saral Pension Plan?

Answer

IndiaFirst Life Saral Pension Plan is a single premium, non – linked, non - participating, individual immediate annuity policy. The plan provides you with 2 different options to choose from, to get a - regular income on a Monthly / Quarterly / Halfyearly / Yearly basis as chosen. This policy is designed to ensure financial well-being of your retirement years

What is the Suicide Exclusion in the policy?

Answer

Suicide exclusion is not applicable under this policy

What is maturity benefit in this policy?

Answer

There is no maturity benefit applicable in this policy as this is an immediate annuity policy..

What is the annuity amount receivable in the policy?

Answer

We have provided below some sample annual annuity amounts for a purchase price of Rs. 5,00,000 (without taxes) for your ready reference –

 

AgeAnnual Annuity Amount* (Rs.) 
Life Annuity with Return of 100% of Purchase Price (ROP)Joint Life Last Survivor Annuity with Return of 100% of Purchase Price (ROP) on death of last survivor
4024,32524,350 
5024,925 25,035 
6025,555 25,975 
7025,950 27,250 

What happens in case of demise of the life assured in this policy?

Answer

On death of the Annuitant/s, the Death Benefit payable is as follows:-
 

S. No.Annuity OptionDeath Benefit 
1.Life Annuity with Return of 100% of Purchase Price (ROP)On the death of the annuitant, the annuity payments will cease and 100% of purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant. Policy ceases on payment of the death benefit.
2.Joint Life Last Survivor Annuity for Life with Return of 100% of Purchase Price (ROP) on death of the last survivor 
  •  On the death of the either annuitant, the annuity payment continues for the other annuitant. 
  • On the death of the last surviving annuitant, the annuity payments will cease and 100% of the purchase price will be payable to the nominee(s) / legal heir(s) of the annuitant. Policy ceases on payment of death benefit.

Who are the people involved in the policy?

Answer

This policy may include the ‘Annuitant’ and the ‘Nominee(s)’.

 

Who is an Annuitant?

 

An Annuitant is person entitled to receive the payouts. In case of Joint Life, the Primary Annuitant will initially receive the annuities, while the Secondary Annuitant will receive the annuities, in the event of death of the Primary Annuitant, as opted. An annuitant has to be –

 

 Minimum AgeMaximum Age 
First Annuitant40 years as on last birthday80 years as on last birthday 70 years (for policies sourced through POSP-LI & CPSC-SPV channels)

 

In case of Joint life annuities, the age limits apply to both the lives.

 

Who is a nominee(s)?

 

Nominee(s) is the person entitled to receive the purchase price under Return of Purchase Price option when the life assured has died.

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Unlock peace of mind and financial stability with our Guaranteed Annuity Plan which is specially designed to safeguard your prosperous future with the assurance of a regular income throughout your life.

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  • Increased Annuity Payments Option
  • Return of Purchase Price Option
  • Tax Benefits
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IndiaFirst Life Radiance Smart Invest Plan

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A ULIP insurance plan that can help you build a legacy by combining wealth growth and life coverage. This plan can help safeguard your finances and earn returns. Enjoy 2 benefits in 1 plan with IndiaFirst Life Radiance Smart Invest Plan.

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IndiaFirst Life Guarantee of Life Dreams Plan

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Wouldn't it be wonderful if we had a second source of income to support our dreams? Here is a way to make your dreams come true where you can start earning an income from the end of the 1st month itself.

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  • Choice of 3 income Options
  • Guaranteed Long-Term Income
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  • Benefits of long-term Savings.
  • Protection even if you miss one premium.
  • Tax benefits
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Why IndiaFirst life

1.6 Crore

Lives secured since Inception

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Available in 16,500+

BOB & UBI Branches

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27,073 Crore

AUM as of Feb'2024

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