IndiaFirst Life Cash Back Plan

(Non-Participating, Non-Linked Individual Life Savings Insurance Plan)

A money back policy that offers you guaranteed periodic payouts to meet your immediate needs and an assured maturity payout to secure your future. Enjoy annual accumulated guaranteed additions on your savings for the years ahead. Safeguard your family's financial stability and continue to receive benefits for long-term with our money back life insurance policy.

Get periodic payouts for goal fulfilment.
Flexible investment terms
Limited premiums for long-term investment growth
Receive guaranteed additions# on your investment
Life cover
Tax benefits*

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Overview
Key Features
How to Buy
Eligibility Criteria
Customer Feedback
FAQ

Key Features of IndiaFirst Life Cash Back Plan

Periodic cash back

Pay for a limited period and receive periodic money back through the policy term.

Flexible Investment Periods

Choose from 9, 12, 15 or 18-year investment periods to suit your financial needs

Guaranteed Joyful Payouts

Enjoy guaranteed payouts at intervals, enhancing life's special moments.

Boosted Returns with Guaranteed Additions#

Watch your investment grow with guaranteed additions #Benefits are guaranteed when all due premiums are paid

Strong Risk Coverage

Get a Risk Cover equal to Higher of 10 times the annualized premium or sum assured on maturity along with accumulated guaranteed additions.

Long-Term Benefits

Reap rewards over an extended period with limited premium paying option.

Tax Efficiency*

Maximize tax savings on premiums and benefits received under prevailing tax laws.

How to Buy IndiaFirst Life Cash Back Plan?

Step 1

Enter Personal Information

Mention your name, age, gender and contact details. Ensure accuracy for smooth processing.

Step 2

Choose Life cover & policy tenure

Choose the amount you want to be insured with and policy tenure.

Step 3

Review Your Quote

A quote will be generated for your review to make an informed decision

Step 4

Talk to Our Experts

Our dedicated sales team will assist you in understanding and completing the payment process for a hassle-free experience.

Step 5

Make Payment

Choose from available payment methods. Complete transaction securely for activation of IndiaFirst Life Cash Back Plan.

Eligibility Criteria

Age
Policy Term
Premium Paying Term
Payment Frequency
Cover

Minimum Entry Age

Question: Minimum Entry Age
Answer: 15 years
Tags

Maximum Entry Age

Question: Maximum Entry Age
Answer: For other than POSP-LI:
For Policy Term 9 & 12 years: 50 years
For Policy Term 15 & 18 years: 55 years

For POSP-LI:
For Policy Term 9, 12 & 15 years: 50 years
For Policy Term 18 years: 47 years
Tags

Minimum Maturity Age

Question: Minimum Maturity Age
Answer: 24 years
Tags

Maximum Maturity Age

Question: Maximum Maturity Age
Answer: For POSP-LI – 65 years
For Other than POSP-LI – 73 years
Tags

Policy Term (PT)

Question: Policy Term (PT)
Answer: 9/ 12/ 15/ 18 years
Tags

Premium Payment Term (PPT)

Question: Premium Payment Term (PPT)
Answer: For policy term of 9 Years: 5 years
For policy term of 12 Years: 7 years
For policy term of 15 Years: 10 years
For policy term of 18 Years: 12 years
Tags

Minimum Premium Amount

Question: Minimum Premium Amount
Answer: Premium Frequency/Premium Payment Term 5 7 10 12
Yearly 42,000 12,000 6,000 6,000
Half Yearly 21,499 6,142 3,071 3,071
Quarterly 10,878 3,108 1,554 1,554
Monthly 3,654 1,044 522 522
Tags

Sum Assured

Question: Sum Assured
Answer: Minimum: ₹50,000
Maximum: For POSP LI: Rs. 10,00,000 | For other than POSP-LI: No limit
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)

How can we help?

View All FAQ

What is the IndiaFirst Life Cash Back Plan?

Answer: IndiaFirst Life Cash Back Plan is a non-participating, non-linked individual life savings insurance plan. The policy provides periodical payouts and security for your family despite the ups and downs of life. Under this policy, you can choose how much you would like to insure yourself based on your requirements. We suggest you make sure this amount is what your family needs to avoid cash flow problems in case of Life Assured’s untimely demise.

What is the term of policy?

Answer: This is a limited premium policy with the option of choosing a policy term of 9/ 12/ 15/ 18 years.

What is the premium paying term available under the policy?

Policy Term Premium Payment Term
9 years 5 years
12 years 7 years
15 years 10 years
18 years 12 years

What are the premium paying modes available under the policy?

Answer: The life assured has the option to pay monthly/ quarterly/ six monthly or yearly.

Who are the people involved in the policy?

Answer

This policy may include the 'Life Assured', the 'Policyholder', the 'Nominee' and the 'Appointee'.

Who is a Life Assured'?

Life assured is the person, on whose life the policy depends. Risk Cover starts immediately on the Policy start date. On the Life Assured's death, the benefit is paid out and the policy ends. Any person can be the life assured, as long as –

Policy Term	For other than POSP-LI
Policy Term	Minimum Age at Entry attained	Maximum Age at Entry attained
9 Years	15 Years	50 Years
12 Years	15 Years	50 Years
15 Years	15 Years	55 Years
18 Years	15 Years	55 Years

Policy Term	For other than POSP-LI
Policy Term	Minimum Age at Entry attained	Maximum Age at Entry attained
9 Years	15 Years	50 Years
12 Years	15 Years	50 Years
15 Years	15 Years	50 Years
18 Years	15 Years	47 Years

Maximum Maturity age (Other than POSP -LI)	73 years as on the last birthday
Maximum Maturity age (For POSP -LI	65 years as on the last birthday

Who is a policyholder?

A policyholder is the person who holds the policy. The policyholder may or may not be the Life Assured. You must be at least 18 years as on your last birthday at the time of applying for the policy, to be a policyholder.

Who is a nominee(s)?

A nominee(s) is the person who receives the death benefit in case of the untimely event of the Life Assured’s demise. The nominee(s) is appointed by the life assured. The nominee(s) can even be a minor (i.e. below 18 years of age). Nomination should be in accordance with provisions of Sec 39 of the Insurance Act 1938 as amended from time to time.

Who is the appointee?

An appointee is the person whom life assured may nominate. In case nominee(s) is a minor, the appointee receives the policy money on behalf of the nominee(s), on the life assured’s untimely demise.

What is the date from which the Risk Cover start?

Answer: The Risk commencement date is the date from which the insurance coverage starts under this Policy. The Risk Commencement date is the same as the date of issuance of the policy or the policy start date.

How much can you at least invest?

Answer: Premium Frequency/ Premium Payment Term 5 7 10 12
Monthly Rs. 3,654 Rs. 1,044 .Rs. 522 Rs. 522
Quarterly Rs. 10,878 Rs. 3,108 Rs. 1,554 Rs. 1,554
Half Yearly Rs. 21,499 Rs. 6,142 Rs. 3,071 Rs. 3,071
Yearly Rs. 42,000 Rs. 12,000 Rs. 6,000 Rs. 6,000

What is the sum assured under this policy?

Answer

You have the option to choose the sum assured as per your needs and requirement.

Sum Assured	Limit for other than POSP-LI
Minimum	Rs. 50,000
Maximum	No limit subject to Underwriting

Sum Assured	For other than POSP-LI
Minimum	Rs. 50,000
Maximum	Rs. 10,00,000

However, the death benefit shall be the sum of Sum Assured on death and guaranteed addition till date of death where Sum Assured on death is defined as:

Higher of Guaranteed sum assured at maturity along with guaranteed additions accumulated till date of death or 10 times the Annualized Premium, excluding modal factor, extra premium / rider premium, if any. This is subject to a minimum of 105% of total premiums paid, excluding applicable taxes and extra premium/ Rider premium, if any, under the policy. The guaranteed additions will depend on the policy term as mentioned below:

Policy Term	Rate of Guaranteed Additions as % of Annualized Premium at every policy year end
9 Years	5% of Annualized Premium
12 Years	6% of Annualized Premium
15 Years	7% of Annualized Premium
18 Years	8% of Annualized Premium

Does the policy offer a high sum assured rebate/ discount?

Answer: Yes, the policy offers higher premium enhancements factors applicable on the Sum assured on maturity for higher annualized premium.

Premium Band/ Term 9 12 15 18
6,000 - - - -
12,000 - - 7.50% 1.50%
30,000 - 4.50% 12.50% 6.00%
42,000 - 6.50% 14.50% 8.00%

What happens in case of the life assured's demise?

Answer

In case of life assured’s unfortunate demise, we will pay the death benefit to the nominee(s)/ appointee/ legal heir/ assignee / person as directed by a court of competent jurisdiction. The death benefit payable will be the sum of Sum Assured on death and guaranteed addition, till date of death where Sum Assured on death is defined as:

Higher of 10 times of annualized premium or 105% of all premiums paid, excluding applicable taxes and extra premium / rider premium, if any, as on date of death or guaranteed sum assured on maturity. Annualized premium is the annual premium excluding modal factor, extra premium and rider premium, if any.

For POSP-LI Channel, waiting period of first 90 days from the date of acceptance of risk shall be applicable. For deaths (other than accidental deaths) during the said waiting period, 100% of Total Premiums Paid shall be paid as Death Benefit. In case of accidental death, entire death benefit shall be payable.

In the life assured’s unfortunate demise, after the payment of death benefit, the policy gets terminated and hence no Survival Benefit or Maturity benefit is payable.

What happens in case of the policyholders demise?

Answer: In case of policyholder’s untimely demise while the life assured is a minor, the surviving parent or legal guardian or anyone with an insurable interest in the minor’s life will be the policyholder.

Under this policy the total benefit payable will always be more than total premiums paid excluding applicable taxes and extra premium if any. The life assured can be the policyholder provided he/ she is 18 years or more at the time of policyholder’s demise.

What do you receive during the policy term?

Answer: The life assured will receive periodical payouts during the policy term. The payout amount will vary depending upon sum assured at maturity opted by the policyholder. The payout frequency and the amount are given below -

Payout Year/Policy Term 9 Years 12 Years 15 Years 18 Years
3 20% of Sum Assured on Maturity - - -
4 - 20% of Sum Assured on Maturity - -
5 - - 20% of Sum Assured on Maturity -
6 20% of Sum Assured on Maturity - - 20% of Sum Assured on maturity
8 - 20% of Sum Assured on Maturity - -
10 - - 20% of Sum Assured on Maturity -
12 - - - 20% of Sum Assured on maturity

What do you receive at the end of the policy term?

Answer: The life assured will receive 60% of the sum assured at maturity along with guaranteed additions based on the policy term as maturity benefit. The benefit will be payable at the end of policy term.

What are the tax benefits under 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 investing.

What are the premium paying modes available under the policy?

Answer: The life assured has the option to pay monthly/ quarterly/ six monthly or yearly.

What if you miss paying your premiums?

Answer

Before Acquiring Paid-up Value

The policy lapses without acquiring any paid-up value, if you stop paying your premium during the first policy year. We offer a five-year revival period during which you can revive your policy. No benefits will be payable during this period.

Policy Term	Number of years premium needs to be paid to have paid up value
9/ 12/ 15/ 18 years	1 Years

After Acquiring Paid-up Value

The policy acquires a paid-up value if you stop paying your premiums after the competition of the first policy year, provided one full year has been paid and subsequent premiums have not been paid as mentioned in the table above. Survival Benefit and Guaranteed Additions will not be payable once the policy becomes paid up.

In case if the paid-up sum assured of a policy is less than rupees two thousand five hundred, policy shall be terminated after expiry of revival period by paying the surrender value.

Paid up value payable on maturity

Paid up value payable on death

Sum Assured on Maturity X (No. of Premiums Paid / Total Number of Premiums Payable) + Guaranteed Additions – Survival Benefit paid, if any

Sum Assured on death X No. of Premiums Paid / Total Number of Premiums Payable) + Guaranteed Additions

The minimum death benefit shall be 105% of Total Premiums Paid as on date of death.

What are your options to revive the policy?

You may revive your policy within a specified period by –

i. submitting a written request for revival of the lapsed Policy;
ii. paying all unpaid due Premiums along with interest; and
iii. providing a declaration of good health and undergoing a medical examination at your own cost, if needed.

You may revive your policy as long as you do it within five years from the due date of the first unpaid premium but before the maturity date. No benefits will be payable during this period other than the paid up value, if any, in the event of death. Upon revival of your policy within the revival period you will be entitled to any survival benefits due after the policy became paid-up.

The revival is subject to satisfactory medical and financial underwriting. If you do not revive your policy by the end of the revival period and if you have paid your regular premiums for less than one year, then the policy does not acquire any paid up value and the policy terminates.

Is there a grace period for missed premiums?

Answer: We provide you with a grace period which is the time provided for payment of premium from the premium due date during which the policy is considered to be in-force with the risk cover. This policy has a grace period of 30 days for yearly, half-yearly and quarterly frequencies and 15 days for monthly frequency from the premium due date. In case of death of the life assured during this period, death benefit after deducting due premiums till date of occurrence of death, will be paid to the nominee(s)/appointee/ legal heir.

During this period the policy will be considered to be in-force.

Can you surrender your policy?

Answer

Yes. While we do not encourage you to surrender your policy, you may choose to surrender the same for immediate cash requirement in case of an emergency.

The policy can be surrendered for an immediate cash any time after acquiring the paid-up value.

Surrender Value:

The amount payable on surrender will be higher than the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).

The policy shall acquire a Guaranteed Surrender Value (GSV) on payment of premium for at least two consecutive years.

GSV = GSV Factor (1) * Total Premiums Paid

add

GSV Factor (2) * sum of Guaranteed Additions, if any, accrued till date the policy becomes reduced paid-up.

less

sum of all Survival Benefits, if any, already paid up to the date of surrender.

The GSV factors are mentioned in Annexure 1.

Special Surrender Value (SSV) shall become payable after completion of first policy year provided one full year premium has been received. The SSV is (Expected present value of Paid-up Sum Assured on maturity plus Expected present value of Paid-up Sum Assured on death plus Expected present value of guaranteed additions accrued, till date of surrender) less sum of all survival benefits, if any, already paid.

Where

Paid-up Sum assured on maturity= Sum assured on maturity* No of premiums paid / Total number of premiums payable under the policy.

Paid-up Sum assured on death = Sum assured on death * No of premiums paid / Total number of premiums payable under the policy.

Can I cancel my policy?

Answer

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 to review the terms and conditions of the policy and if you disagree to any of those terms or 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 cancel your policy?

Yes. We will refund an amount (within 7 days of receipt of such request) equal to the –

Premium paid

Less: i. proportionate risk premium for the period of cover and the expenses Less ii. Any stamp duty paid

Less iii. Expenses incurred on medical examination, if any

Can I avail of a loan under this policy?

Answer: Loan facility is provided under this policy, subject to conditions mentioned below:

The loan amount will be subject to 80% of the surrender value.

The minimum loan amount should be Rs.10,000.

For in-force and fully paid-up policies, if the outstanding loan along with interest exceeds 90% of the surrender value, company will send a notice to the policy holder to repay the loan partially or completely. If loan is not repaid subsequent to receipt of the notice, then we will adjust the outstanding loan along with interest before any payment of benefits. After recovering the outstanding loan along with interest, remaining benefit, if any, will be payable.

For other than in-force and fully paid-up policies, as and when the outstanding loan along with interest exceeds the surrender value for paid-up cases, company will send a notice to the policyholder to repay the loan partially or completely. If loan is not repaid within a stipulated period, the policy will be compulsorily surrendered and the outstanding loan along with interest will be recovered from the surrender proceeds or paid-up value.

The basis used for the calculation of interest rate on loan is 10-year G-Sec rate as at the end of last financial year plus the absolute margin of 250 basis points rounded up to the nearest 50 basis points. The derived interest rate will be applicable in the succeeding financial year. Currently, the interest rate on loan for FY 2024-25 is 10.00% p.a. (simple). It is arrived by adding a margin of 250 basis points on the effective annual 10-year G-Sec and rounding up to the nearest 50 basis points (10.00% ~ 7.18% + 2.50%).

Any change in the methodology of calculating the loan interest rate shall be subject to prior approval from IRDAI.

What happens in case the life assured commits suicide?

Answer: If the life assured commits 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 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.

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1.64 Crore

Lives secured since inception

Available in 16,500+

BOB & UBI Branches

30,968 Crore

AUM as of Mar’25

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Disclaimer

#Benefits are guaranteed when all due premiums are paid.

*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.

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+91 22 6274 9898

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Premium Frequency/Premium Payment Term	5	7	10	12
Yearly	42,000	12,000	6,000	6,000
Half Yearly	21,499	6,142	3,071	3,071
Quarterly	10,878	3,108	1,554	1,554
Monthly	3,654	1,044	522	522

Policy Term	Premium Payment Term
9 years	5 years
12 years	7 years
15 years	10 years
18 years	12 years

Premium Frequency/ Premium Payment Term	5	7	10	12
Monthly	Rs. 3,654	Rs. 1,044	.Rs. 522	Rs. 522
Quarterly	Rs. 10,878	Rs. 3,108	Rs. 1,554	Rs. 1,554
Half Yearly	Rs. 21,499	Rs. 6,142	Rs. 3,071	Rs. 3,071
Yearly	Rs. 42,000	Rs. 12,000	Rs. 6,000	Rs. 6,000

Premium Band/ Term	9	12	15	18
6,000	-	-	-	-
12,000	-	-	7.50%	1.50%
30,000	-	4.50%	12.50%	6.00%
42,000	-	6.50%	14.50%	8.00%

Payout Year/Policy Term	9 Years	12 Years	15 Years	18 Years
3	20% of Sum Assured on Maturity	-	-	-
4	-	20% of Sum Assured on Maturity	-	-
5	-	-	20% of Sum Assured on Maturity	-
6	20% of Sum Assured on Maturity	-	-	20% of Sum Assured on maturity
8	-	20% of Sum Assured on Maturity	-	-
10	-	-	20% of Sum Assured on Maturity	-
12	-	-	-	20% of Sum Assured on maturity

IndiaFirst Life Cash Back Plan

IRDAI Redg. No. 143 CIN U66010MH2008PLC183679 | UIN (143N024V05)