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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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Visualise your Plan
Maximum Age at Maturity: 50 years
Single Pay
5/ 7/ 10 years
5 years PT : ₹200
7 years PT : ₹143
10 years PT : ₹100
5 years PT : ₹40,000
7 years PT : ₹28,570
10 years PT : ₹20,000
₹1,000 - ₹2,00,000
How people have benefitted from IndiaFirst Life
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
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
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 Life “INSURANCE KHATA” Plan (Micro- Insurance Product) is a non-linked, non-participating, micro-life insurance, endowment plan. The policy is designed to offer financial protection in the form of a life cover for the family along with an assured benefit on maturity in case the life assured survives till the end of the policy term.
This policy works on assured benefits and hence, you know your benefits even before you buy the policy. Affordable protection is definitely an added advantage. Individuals aged between 18 to 45 years, looking for readymade, easy-to-buy covers; can purchase this policy.
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 purchase of the policy.
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.
You can surrender the policy any time during the policy term after payment of premium. The policy pays a surrender value, if the policy holder surrenders the policy any time during the policy term after acquiring paid up value. The policy will acquire paid-up value immediately after issuance.
The amount payable on surrender will be higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV). The GSV factors are dependent upon policy year of surrender and policy term. The GSV factors will be applicable on total premium paid excluding applicable tax, if any, extra premium and rider premium, if any. (Refer Annexure I for the GSV factor table). The SSV will be SSV factor multiplied by the paid-up value. The GSV factors can be referred to on our website www.indiafirstlife.com. The SSV factors will be determined from time to time by the company subject to IRDAI approval.
No, the policy does not have a loan facility.
| Criteria | Parameters | |
|---|---|---|
| Age at Entry | Minimum | 18 years for all policy terms |
| Maximum | 45 years for policy term 5 years 43 years for policy term 7 years 40 years for policy term of 10 years | |
| Maximum Age at Maturity | 50 years | |
| Premium Payment Term | Single Pay | |
| Policy Term | 5 / 7 / 10 years | |
| Premium | Minimum | Rs. 200 for 5 year policy term Rs. 143 for 7 year policy term Rs. 100 for 10 year policy term |
| Maximum | Rs. 40,000 for 5 year policy term Rs. 28,570 for 7 year policy term Rs. 20,000 for 10 year policy term | |
| Sum Assured on Death | Minimum – Rs. 1000 Maximum – Rs. 2,00,000 | |
In case of survival of the life assured till the end of the policy term, the policyholder stands to receive Guaranteed assured benefit on maturity, which is X% of Single Premium paid, excluding applicable tax; if any and extra premium if any, at maturity Where X% is defined in the table below.
Guaranteed Sum Assured on Maturity as a % of Single Premium
| Age/Policy Term | X% | ||
|---|---|---|---|
| 5 | 7 | 10 | |
| 18 | 106.64% | 115.04% | 126.29% |
| 19 | 106.39% | 114.52% | 125.18% |
| 20 | 106.15% | 114.00% | 124.06% |
| 21 | 105.90% | 113.48% | 122.95% |
| 22 | 105.66% | 112.97% | 121.83% |
| 23 | 105.41% | 112.45% | 120.72% |
| 24 | 105.17% | 111.93% | 119.61% |
| 25 | 104.92% | 111.41% | 118.49% |
| 26 | 104.68% | 110.89% | 117.38% |
| 27 | 104.43% | 110.37% | 116.26% |
| 28 | 104.18% | 109.86% | 115.15% |
| 29 | 103.94% | 109.34% | 114.04% |
| 30 | 103.69% | 108.82% | 112.92% |
| 31 | 103.20% | 108.30% | 111.81% |
| 32 | 103.20% | 107.78% | 110.69% |
| 33 | 102.96% | 107.26% | 109.58% |
| 34 | 102.71% | 106.75% | 108.46% |
| 35 | 102.47% | 106.23% | 107.35% |
| 36 | 102.22% | 105.71% | 106.24% |
| 37 | 101.97% | 105.19% | 105.12% |
| 38 | 101.73% | 104.67% | 105.12% |
| 39 | 101.48% | 104.15% | 102.89% |
| 40 | 101.24% | 103.64% | 101.78% |
| 41 | 100.99% | 103.12% | |
| 42 | 100.75% | 102.60% | |
| 43 | 100.50% | 102.08% | |
| 44 | 100.26% | ||
| 45 | 100.01% | ||
In case of death due to suicide within 12 months from the date of commencement of risk under the policy, the nominee or beneficiary of the policyholder shall be entitled to 80% of the total premiums paid(which is Single premium excluding applicable taxes and extra premium, if any) 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.
A lump sum amount will be paid to the nominee/ appointee / legal heir in the untimely event of the Life Assured’s demise as per the following table.
| Death Benefit |
|---|
| Higher of 125% of the single premium or minimum guaranteed assured benefit on maturity or absolute amount assured to be paid on death. |
The minimum guaranteed assured benefit on maturity is as defined in question 4 below.
The absolute amount assured to be paid on death is the Sum Assured on death and will be determined on the basis of following table:
| Policy Term | Age at Entry (Years) | Death Benefit |
|---|---|---|
| 5 | 18 to 45 | 5*SP |
| 7 | 18 to 43 | 7*SP |
| 10 | 18 to 40 | 10*SP |
SP = Single Premium
You can return this Policy if you disagree with any of the terms and conditions of this Policy within the first 15 (Fifteen) days of receipt of your Policy document. In case you have bought this policy through distance marketing mode, you may return the Policy within 30 (Thirty) days from the date of receipt of your Policy document. You are required to send us a written request stating the reasons for returning the policy, post which we will refund your Premium within 15 days of receipt of the request after deducting the pro rata risk Premium and stamp duty.
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BEWARE OF SPURIOUS PHONE CALSS AND FICTIOUS/FRADULENT OFFERS
IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
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12th and 13th Floor, North [C] wing, Tower 4, Nesco IT Park, Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400063.
IRDAI Information
IRDAI Regd. No. 143 | CIN: U66010MH2008PLC183679Trade logo displayed above belongs to one of our promoters and shareholders, Bank of Baroda and are used by IndiaFirst Life Insurance Company Limited under License.
For more details on risk factors, associated terms and conditions and exclusions please read the product brochure before concluding a sale.
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