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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

Life cover

Financially protect yourself and your family by selecting a life cover that meets your requirement.

cover-life

3 Coverage options

Customise your plan by choosing from 3 life options to suit your safety needs

many-strategies

Waiver of premium option

Opt for the premium waiver option to ensure continuous coverage on 40 critical illnesses or total disability.

wealth-creation

Flexible payout options

Flexibility to receive the death benefit as a lump sum or as a monthly income.

secure-future

Whole life cover

Get covered for whole of life (till age 99) by paying premiums for only a short duration

many-strategies

Return of premium

Option to get your premium back.

cover-life

Boost Sum Assured Easily

Enhance coverage at special life stages with additional premium. No underwriting required!

wealth-creation

Joint life option

Option to provide coverage to your spouse as well under the same policy

secure-future

Smart life policy

Option to reduce your Sum Assured by 50% after reaching a certain age of 55/60/65/70

many-strategies

How to buy IndiaFirst Life Protection Plus Plan?

Step 1

Choose Life cover amount

Choose the amount you want to be insured with.

choose-plan

Step 2

Enter your details

Fill in your basic details like name, contact number, email ID, date of birth and other essentials required

premium-amount

Step 3

Choose the life cover option

Select a life cover option as per your needs like Life Option, Return of Premium Option or Smart Life Option.

select-stategy

Step 4

Review your quote

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

make-payments

Step 5

Make the payment

Choose any online mode of payment to complete the process and buy policy online. A policy will be issued to you thereafter.

choose-plan

Visualize your Plan

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Age 35

Maitri a home maker buys IndiaFirst Life Guaranteed Protection Plus Policy (Life Option) with sum insured of ₹1 crore for cover till 99 years

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Age 45

She completes her premium payment term of 10 years and pays a total premium of ₹97,902/-p.a. (exclusive of taxes)

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Age 65

Maitri passed away due to illness

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Maitri's husband

Receives a death benefit of ₹1 crore for her untimely death

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Age 38

Rohit, an organic agriculturist buys IndiaFirst Life Guaranteed Protection Plus term policy (ROP option) with sum insured of ₹1 crore for cover till 85 years

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Age 48

He completes his premium payment term of 10 years and pays a total premium of Rs ₹98040/- p.a. on survival till maturity, he'll get 100% of his premium back. On survival till maturity, he'll get 100% of his premium back.

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Age 60

Rohit passed away

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Rohit's Nominee

Family members (nominee) receives a death benefit of ₹1 crore for his untimely death

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Age 35

Sanjay, a farmer buys IndiaFirst Life Guaranteed Protection Plus term policy with Return of Premium Option with sum insured of ₹1 crore for cover till 85 years

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Age 45

He completes his premium payment term of 10 years and pays a total premium of Rs ₹ 83,125/- p.a. On survival till maturity, he'll get 100% of his premium back

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Age 85

Sanjay survives till the end of policy term

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Sanjay

Sanjay receives 100% of his premium back amounting to ₹8,31,250 on maturity

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Age 40

Manisha who works at a private firm buys IndiaFirst Life Guaranteed Protection Plus Plan (Smart Life Option) with sum assured of ₹1 crore. The policy will cover her for 85 years but the sum assured will decrease to ₹50 Lakhs at the age of 60.

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Age 50

She completes her premium payment term of 10 years and pays a total premium of Rs ₹98,040/- p.a.

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Age 75

Manisha passed away due to illness

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Manisha's husband

Receives ₹50 lakhs as death benefit

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Eligibility Criteria

Age at Entry

Answer

Minimum Entry Age

  • 18 years

Maximum Entry Age

  • Life & ROP Option: 65 years
  • Smart Life Option: Age at which benefits decreases less 5 years

Maturity Age

Answer
  • Life & Smart Life Option: 99 years
  • ROP Option: 85 years

Maximum Sum Assured

Answer

No limit subject to board approved underwriting policy.

Minimum Sum Assured

Answer
  • Life Option: ₹50,00,000
  • ROP Option: ₹25,00,000
  • Smart Life Option: ₹75,00,000

Minimum Policy Term (PT)

Answer

10 years under limited premium (1 month for single premium under Life Option)

Maximum Policy Term (PT)

Answer

For Single Premium: 20 years
 

For limited Premium

  • Life & Smart Life Option: 81 years
  •  ROP Option: 67 years

Maximum Premium Amount

Answer

No Limit, subject to Board Approved Underwriting Policy

Minimum Premium Amount

Answer
  • Yearly: ₹2,400
  • Half Yearly: ₹1,200
  • Quarterly: ₹600 
  • Monthly: ₹200
  • Single Premium: ₹100

Premium Paying Term

Answer
  • Single Premium: One-time payment at policy inception
 
  • For Limited Premium: As per table mentioned below


    Premium Paying Term (PPT)Minimum Policy term Maximum Policy term
    For coverage option 1:   
    5 years to 47 years PPT+ 5 yearsAs per the option chosen in the table above
    For Coverage Option 2: 
    5 years10 years
    7 years10 years
    10 years15 years
    12 years15 years
    15 years20 years
    20 years25 years
    25 years30 years
    30 years35 years
    35 years40 years
    For Option 3 
    5 yearsPPT + 5 years
    7 years
    10 years
    12 years
    15 years
    20 years
    25 years
    30 years
    35 years

Premium Paying Term (PPT) – For Limited Premium

Answer

Option 1: Life Option
Minimum 5 years to maximum 47 years such that the maximum age at end of PPT is 70 years

 

Option 2: Return of Premium Option
5/7/10/12/15/20/25/30/35 years such that the maximum age at end of PPT is 70 years.

 

Option 3: Smart Life Option
5/7/10/12/15/20/25/30/35 years such that the maximum age at end of PPT is 70 years.

 

 

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 Guaranteed Protection Plus Plan?

Answer

IndiaFirst Life Guaranteed Protection Plus Plan is a simple life insurance plan with Individual
pure risk cover crafted to secure your family's financial well-being in case of unexpected events.

What is the basic eligibility criteria in this policy?

Answer
Criteria Minimum Maximum
Entry Age (as on last birthday) 18 years;Life Option & Return of Premium - 65 years Smart Life Option - Age at which benefit decreases less 5 years
Premium Yearly Rs. 2,400  No limit subject to Board approved underwriting policy
Half Yearly Rs. 1,200
Quarterly Rs. 600 
Monthly Rs. 200
Single Rs. 100
Premium Paying Term (PPT)For Single Premium: One-time payment at policy inception For Limited Premium: As per table mentioned below

 

Coverage Option Premium Paying Term (PPT) – For Limited Premium
Option 1: Life Option Minimum 5 years to maximum 47 years such that the maximum age at end of PPT is 70 years
Option 2: Return of Premium Option5/7/10/12/15/20/25/30/35 years such that the maximum age at end of PPT is 70 years 
 Option 3: Smart Life Option

 

Minimum Policy Term:

 

Coverage OptionMinimum Policy TermMaximum Policy Term
 Limited PremiumSingle PremiumLimited PremiumSingle Premium
Option 1: Life Option10 years1 month81 years20 years
Option 2: Return of Premium Option10 years10 years67 years20 years
Option 3: Smart Life Option 10 years10 years81 years20 years

 

For coverage options 1, for single premium policies, the policy term allowed are at monthly intervals till 24 months, quarterly intervals from 24 months till 60 months and yearly intervals thereafter.

For coverage option 3, the policy term chosen should be such that the reduced benefit is applicable for atleast 6 years. The combination of premium paying term and policyterm available for Limited premium paying policy areas follows:
 

Premium Paying Term (PPT) Minimum Policy termMaximum Policy term
For coverage option 1: Option 1: Life Option  
5 years to 47 years PPT+ 5 yearsAs per the option chosen in the table above 
For Coverage Option 2: 
5 years 10 years
7 years 10 years
10 years 15 years
12 years 15 years 
15 years20 years
20 years 25 years
25 years 30 years
30 years 35 years
35 years40 years
For Option 3 
5 yearsPPT+ 5 years
7 years
10 years
 12 years
15 years
20 years
25 years 
30 years
35 years

 

Maximum Maturity Age:
 

Coverage OptionMaximum Maturity Age
Option 1: Life Option99 years last birthday 
Option 2: Return of Premium Option85 years last birthday
Option 3: Smart Life Option 99 years last birthday

 

Coverage Option Minimum Sum AssuredMaximum Sum Assured
Option 1: Life Option Rs. 50,00,000 No limit, subject to BAUP
Option 2: Return of Premium OptionRs. 25,00,000No limit, subject to BAUP
Option 3: Smart life OptionRs. 75,00,000No limit, subject to BAUP 

What is the sum assured in this policy?

Answer

You get to decide the amount of coverage you want, but it should meet the minimum
requirement. The maximum death sum assured that your loved ones would receive in case of
unfortunate events is determined by the policy guidelines approved by the Board. Your premium
is calculated based on the cover.

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 purchasing this policy.

Can I get a loan in this policy?

Answer

No, loan is not allowed in this policy.

Is there any high sum assured rebate under this policy?

Answer

Yes, there is high sum assured rebate under this policy for all options

 

1)For Life Option
 

Sum Assured band (INR)Rebate on premium
50,00,000 – 74,99,9990.0%
75,00,000 – 99,99,9991.5% 
1,00,00,000 – 1,99,99,9992.0%
2,00,00,000 – 9,99,99,9992.5%
10,00,00,000 and above3.0%

 

2) For Return of Premium Option
 

Sum Assured band (INR)Rebate on premium
25,00,000 – 49,99,9990.0%
50,00,000 – 99,99,9993.0%
1,00,00,000 – 9,99,99,9995.0% 
10,00,00,000 and above6.0%

 

3)For Smart Life Option
 

Sum Assured band Rebate on premium
75,00,000 – 4,99,99,9990.0%
5,00,00,000 and above2.0%


The discount factors are derived such that the cost saved on higher Sum Assured policies is appropriately passed on to the policyholder.

Does this policy offer the option to cover one’s spouse?

Answer

Yes, you can include your spouse in the same insurance policy by choosing the Joint Life
Option. This choice is only available with the Life Option. The insurance coverage for both of
you starts when the policy begins. If you choose this option, your spouse gets an additional cover
of 50% of the main insured person's coverage, up to a maximum of ₹1 crore. If the secondary life
assured (your spouse) passes away, the applicable benefit will be paid. If a payout happens for
one of the insured persons, the policy will continue for the other until the benefits for both are
used up or until the end of the policy term, whichever comes first.

What are the various coverage options available under this policy?

Answer

You can start your policy by choosing from 3 available options. Once you pick one, you can't
switch later. We've explained each option and its benefits above to help you choose what suits
your needs. Your premium amount will change based on the option you choose:

1. Life Option

2. Return of Premium Option

3. Smart Life Option

 

A. Under Limited Premium the death benefit is Higher of:

Sum Assured on Death or 105% of Total Premiums Paid^, till date of death. 

^Total Premiums Paid (TPP) means total of all the premiums received, excluding any extra premium, any rider premium, and taxes.

Where Sum Assured on Death is Sum Assured under this product as defined as:

Highestof10timesofannualizedpremiumoranabsolute amountassuredprevailingatthetimeofdeath.

Where the Sum Assured prevailing at the time of death is – 

Highest of 10 times of annualized premium or an absolute amount assured prevailing at the time of death.

Where the Sum Assured prevailing at the time of death is –

1. For Life Option & Return of Premium Option –
The SumAssured chosen by the policy holder at inception


2. Smart Life Option –
The Sum Assured applicable at the time of death.

Please refer the below section for further details on terms & conditions applicable under each Plan Option

B. Under Single Premium the death benefit is Higher of :
Highest of 1.25 times of single premium or any absolute amount which is the Sum Assured prevailing at the time of death.

Where the Sum Assured prevailing at the time of death is –

1. For Life Option & Return of Premium Option –
The SumAssured chosen by the policy holder at inception

2. Smart Life Option –
The Sum Assured applicable at the time of death

1) Life Option

On death of the life assured or diagnosis of terminal illness whichever is earlier, during the term of the policy, Sum Assured is payable and the policy terminates once the full amount of benefit is paid on occurrence of either of the events.

2) Return of Premium Option

On death of the life assured or diagnosis of terminal illness whichever is earlier, during the term of the policy, Sum Assured is payable and the policy terminates once the full amount of benefit is paid on occurrence of either of the events.

On survival of the life assured till the end of the policy term, Maturity Benefit i.e.100% of Total Premiums Paid (TPP) shall be paid to the Policyholder. The policy terminates once the full amount of benefit is paid.

3) Smart Life Option

Under this coverage option, Sum Assured chosen by the policyholder at inception reduces to 50% from the next policy anniversary after attaining age 55/60/65/70 years (as per the age chosen by the policyholder at inception), subject to a minimum Sum Assured after reduction to INR 50,00,000.

Death benefit amount will be paid either as lump sum or/and in a level monthly instalment as per coverage option and pay-out option chosen by the policyholder at inception of the policy.

Please refer to the below table for sample premium amounts for sample ages and coverage options.
 

Sample Premium amounts for Sum Assured - Rs. 1,00,00,000**
IndiaFirst Life Guaranteed Protection Plus Plan
Age Maturity Age Premium Paying Term Life Option Return of Premium Option
30 851050,27464,030
35 851065,36683,125 
40 8510 85,9461,09,630
4585101,13,1901,45,540
5085101,47,9801,92,470

 

Sample Premium amounts for Sum Assured - Rs. 1,00,00,000
IndiaFirst Life Guaranteed Protection Plus Plan 
AgeMaturity AgeDecreasing Benefit Age Smart Life Option
3085 5535,600
35856047,900
4085 60 61,600
458565  85,100
5085 65 1,07,000

How can I increase my Sum Assured under this policy?

Answer
  1. The option to increase the sum assured is only available with the Life Option. You can do it without going through a medical checkup. This is possible on certain events during the life of the person insured.
  2. The total increase can't go beyond 100% of the initial Sum Assured.
  3. You have six months from the date of the specified event to decide to increase the Sum Assured.  
  4. The increase takes effect from the next annual policy anniversary after you notify us. There will be an extra cost for this increase, and it depends on your age when you decide to make the change. 
  5. To use this option, you should have been underwritten at the standard rate when you started the policy, the policy should be active with premium payments at the time of exercising this option, and your age must be below 45.
     

This option doesn't apply to single premium policies premiums and payments:
 

Life Stage EventsMaximum additional % of Base SA Maximum Additional SA allowed
Marriage (only one instance during Policy Term) 50% ₹50 Lakh 
Birth/ Legal adoption of 1st child25% ₹.25 Lakh
Birth/ Legal adoption of 2nd child 25% ₹25 Lakh
Home loan taken by Life Assured(only one instance during Policy Term)50% or loan amount(whichever is lower)
 

 

How can I reduce my Sum Assured under this policy?

Answer

Yes you can reduce your sun assured if 

  • If you boosted your coverage for a specific event before turning 45, you can later choose to reduce it. This choice is only available with the Life Option. 
  • You can lower the coverage by the same amount you increased it for that specified event. 
  • The reduction starts from the next annual policy anniversary after you tell us, and your premium goes down at the same time. 
  • The premium reduction matches the extra cost you paid when you increased the coverage for that specific event, as explained in the option to Increase Sum Assured. 
  • You can't choose to decrease the coverage during the last 5 policy years, and once it's decreased, you can't increase it again.
  • If you want to decrease the coverage, you need to send a written request at least two months before the annual policy anniversary.

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

Answer

Maturity Benefit is only applicable in case Return of Premium Option is chosen. On survival of the life assured till the end of the policy term, Maturity Benefit i.e. 100% of Total Premiums Paid (TPP) shall be paid to the Policyholder. The policy terminates once the full amount of benefit is paid on occurrence of the event. No maturity benefit is applicable under any of the other plan options.

What happens in case you miss paying your premiums?

Answer

If you don't pay your premium within the grace period, your policy will lapse. This means your coverage stops, and you won't get any more benefits.
If the person insured passes away or a covered event occurs during the grace period, we'll still pay the benefit. However, we'll deduct any unpaid premiums until the date of death or the covered event. Your policy is considered active during this time.
For the Return of Premium Option, the policy lapses if the grace period passes from the first unpaid premium until two full policy years' premiums are paid. For all other options, if the grace period passes from the first unpaid premium, and you haven't paid, the policy will lapse, and no benefits will be paid.
The Return of Premium Option can have a paid-up value if the grace period passes from the first unpaid premium, at least two consecutive years of premiums have been paid, and subsequent premiums are not paid.

Under the Return of Premium Option: 

  • The paid-up death benefit is calculated based on the Sum Assured * (Total numbers of premiums paid)/ (Total Number of premiums payable over the policy term
  • The paid-up maturity benefit is a return of 100% of the total premium paid.

There are rebates on premium rates based on the Sum Assured bands, and the options to revive a lapsed policy are available within five years from the due date of the first unpaid premium. The revival process involves paying overdue premiums with interest, a declaration of good health, and possibly a medical examination at your expense. 
If the term policy is revived, all benefits will be restored as if it were an active policy. However, the revival process is subject to satisfactory medical and financial requirements set by the company, and any associated costs, if applicable, will be your responsibility.

Do I get a discount on renewal premiums, if paid in advance?

Answer

If you pay your insurance premium at least one month before it's due and up to 11 months earlier, within the same financial year, we'll give you a discount on the renewal premium amount. However, if you pay within one month before the due date, no discount will be provided.

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. For Limited Premium policies, you are provided a Grace Period of 15 days under monthly mode and one month but not less than 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.

Can you surrender your policy?

Answer

Certainly! If you want to end your policy before it's completed, you can surrender it by sending us a written request. Keep in mind that once you surrender or terminate the policy, you can't bring it back to life. 

For plans other than Return of Premium: 

  • If you have a single premium plan, you can get back a portion of the premium after the first year. The amount is calculated based on 50% of the total premium paid, the remaining time in the policy term, and the total policy term.

    i.e., 50%xTotal Premium Paid x (Unexpired Term*/ Total Term)
  • If you have a limited premium plan, you can get back a portion of the premium after the premium-paying term or ten policy years, whichever is lower. The amount is calculated based on 30% of the total premiums paid, the remaining time in the policy term, and the total policy term.

    i.e., 30%XTotal PremiumsPaid x (Unexpired Term*/ Total Term)
     

For Return of Premium Option:

  • If it's a single premium plan, you can get the surrender value right after the policy is issued.
  • If it's a limited pay plan, you can get the surrender value if you've paid premiums for at least two consecutive years. The surrender value is the higher of Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). GSV depends on the policy year of surrender and the policy term. The SSV is calculated by multiplying the paid-up maturity benefit by the SSV factor at the time of surrender. 

The Company determines the SSV factor based on the investment scenario and regulatory approval. 

Can you return your policy (free look period)?

Answer

Certainly! If you're not happy with your policy and want to return it, you can do so within the Free Look period. This period is 15 days from the date you receive the policy. However, if you bought the policy through distance marketing or electronic mode, the Free Look period extends to 30 days.

Will you get a refund when you return your policy? Yes, you will receive a refund that includes: 

  • The premium you paid
  • Minus a proportionate risk premium for the time the policy was active
  • Minus any stamp duty paid
  • Minus any expenses incurred on a medical examination, if applicable 
     

Distance marketing includes various ways of selling insurance, such as phone calls, text messages, emails, internet, interactive television, direct mail, newspaper and magazine inserts, and any other means of communication that doesn't happen in person. 

What are the conditions in which the benefits of this policy will not be paid?

Answer

Suicide Exclusion

In case of death due to suicide or terminal illness 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. 

Exclusions for Accidental Total Permanent Disability:

Total and Permanent Disability (due to accident) shall not be paid if disability occurring directly or indirectly due to or caused, occasioned, accelerated or aggravated by any of the following:

1. Suicide or self-inflicted injury, whether the life assured is medically sane or insane.

2. War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion, revolution, insurrection, military or usurper power, civil commotion. War means any war whether declared or not.

3. Service in the armed forces, of any country at war or service in any force of an international body

4. Taking part in any naval, military or air force operation during peace time.

5.Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent.

6. Alcohol or Solvent abuse or taking of Drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner

7. Poison, gas or fumes (voluntary or involuntarily, accidentally or otherwise taken, administered, absorbed or inhaled).

8. Participation by the insured person in any flying activity, except as a bona fide, fare-paying passenger, pilot, air crew of a recognized airline on regular routes and on a scheduled timetable.

9. Taking part in professional sport(s) or any adventurous pursuits or hobbies. “Adventurous Pursuits or Hobbies” includes any kind of racing (other than on foot or swimming), potholing, rock climbing (except on man-made walls), hunting, mountaineering or climbing requiring the use of ropes or guides, any underwater activities involving the use of underwater breathing apparatus including deep sea diving, sky diving, cliff diving, bungee jumping, paragliding, hand gliding and parachuting.

10. Any disability due to any kind of sickness, disease before and/or after the effective date of the cover; any existing external congenital anomaly will not be covered, and policy will not be issued for such members having external congenital anomaly. Other than external congenital anomaly all other congenital anomaly will be covered. Where External Congenital Anomaly means a condition, which is visible and accessible parts of the body and present since birth, and which is abnormal with reference to form, structure or position.

11.Nuclear Contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature.

Exclusions for CriticalIllness/Degenerative Diseases:

In addition to the condition specific exclusion mentioned in the definitions, we will not pay any claim arising directly or indirectly due to any of the following causes:

1. Pre-Existing disease:

Pre-Existing disease means any condition, ailment, injury or disease:

a. That is/are diagnosed by a physician within 48 months prior to the effective date of the policy issued by the insurer or

b. For which medical advice or treatment was recommended by, or received from, a physician within 48 months prior to the effective date of the policy or its reinstatement 

policy or its reinstatement After completion of 48 months from date of issuance or reinstatement, as the case may be, preexisting exclusion clause will not be applicable

2. Intentional self-inflicted injury, attempted suicide while sane or insane.

3. Alcohol or Solvent abuse or taking of Drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner.

4. War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, civil commotion, strikes.  

5. Taking part in any naval, military or air force operation during peace time.

6. Participation by the insured person in any flying activity, except as a bona fide, fare-paying passenger, pilot, air crew of a recognized airline on regular routes and on a scheduled timetable

7. Participation by the insured person in a criminal or unlawful act with a criminal intent.

8. Engaging in or taking part in professional sport(s) or any hazardous pursuits, including but not limited to, diving or riding or any kind of race; underwater activities involving the use of breathing apparatus or not; martial arts; hunting; mountaineering; parachuting; bungee-jumping.

9. Any external congenital anomaly will not be covered, and policy will not be issued for such individuals having external congenital anomaly. Where External Congenital Anomaly means a condition, which is visible and accessible parts of the body and present since birth, and which is abnormal with reference to form, structure or position.

10. Nuclear Contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature Please refer Important Definitions section to know more about the exclusions on Critical Illnesses. 

What are the premium paying modes available in the policy?

Answer

You can choose how often to pay for your life insurance – monthly, quarterly, half-yearly, yearly, or just a single payment. The premium amount will depend on the coverage option you choose.

 

A. If you choose Limited Premium:

The amount your loved ones receive if something happens to you is the higher than the Sum Assured or 105% of all the premiums you've paid so far.

 

where, 'Total Premiums Paid (TPP)' means total of all premium , excluding extra premiums, rider premiums, and taxes.

 

and 'The Sum Assured' is 10 times higher than the annual premium or a set amount determined when you pass away. The set amount is determined by 10 X annual premium or a specific amount chosen at the start:

 

  • For Life Option & Return of Premium Option: The amount chosen by you when you start the policy.
  • Smart Life Option: The amount chosen at the beginning of the policy. 

 

Please check the section below for more details on terms and conditions for each Plan Option.

 

B. If you choose Single Premium:

 

If something happens to you, your loved ones gets highest of 1.25 times of the single premium or a set amount determined earlier. The set amount is determined by the highest of:

 

a) For Life Option & Return of Premium Option – The amount chosen by you when you start the policy.

 

b) Smart Life Option – The amount chosen at the beginning of the policy.

 

  • Life Option: If the person insured passes away or is diagnosed with a terminal illness during the policy term, the chosen Sum Assured is paid, and the policy ends.
 
  • Return of Premium Option: Similar to the Life Option, if the person insured passes away or is diagnosed with a terminal illness during the policy term, the chosen Sum Assured is paid, and the policy ends. If the person survives until the end of the policy term, they receive a Maturity Benefit, which is 100% of all the premiums paid, and the policy ends. 
 
  • Smart Life Option: The chosen Sum Assured reduces to 50% from the next policy anniversary after reaching age 55/60/65/70 (as chosen at the start), with a minimum Sum Assured of ₹50,00,000 after reduction. The death benefit can be paid as a lump sum or in monthly instalments, depending on the coverage and payout option chosen at the beginning of the policy.

 

Please refer to the below table for sample premium amounts for sample ages and coverage options.

 

 

Sample Premium amounts for Sum Assured - ₹1,00,00,000**
IndiaFirst Life Guaranteed Protection Plus Plan
Age Maturity Age Premium Paying Term Life Option Return of Premium Option
30 85 10 50,274 64,030
35851065,366 83,125 
40851085,946 1,09,630
4585101,13,190 1,45,540
5085101,47,980 1,92,470
Sample Premium amounts for Sum Assured - ₹1,00,00,000 
IndiaFirst Life Guaranteed Protection Plus Plan
Age Maturity Age Decreasing Benefit Age Smart Life Option
30855535,600
35856047,900
40856061,600
45856585,100
5085651,07,000

 

 

 

What are the payout options available under this policy?

Answer

You can choose for your family to receive the lumps in either of the 2 ways. Here are the options.
 

A. Lumpsum Option: If something happens to you or you're diagnosed with a terminal illness, the full amount is paid all at once, and the policy ends.
 

B. Lumpsum and Level Income Option: If something happens to you or you're diagnosed with a terminal illness, you can choose to get a portion of the money (between 10% and 50%, in multiples of 10%) right away as a lump sum. The rest is paid to you in equal monthly instalments over 5 years. The lump-sum percentage has to be decided when you start the policy.
 

The monthly instalment amount is calculated by dividing the remaining amount (let's call it S) by a special number (annuity factor), which uses the State Bank of India (SBI) savings bank interest rate at the beginning of the financial year. The monthly payments stay the same throughout the 5-year period. The current interest rate is 2.70%, but it might change at the end of each financial year based on the SBI savings bank interest rate. 

What is the Waiver of Premium Benefit offered under the policy?

Answer

This is an optional benefit, available only with Life Option & Smart Life Option provided the policy has been underwritten on standard terms. This option has to be selected by the policyholder at the inception of the policy.. All future premiums shall be waived if the Life Assured is diagnosed with any of the listed 40 Critical Illnesses or total permanent disability due to accident. An additional premium will be charged for this benefit. If Joint Life Option is chosen along with this option then WOP is applicable only on the primary life assured.

In case of critical illness, a waiting period of 180 days will be applicable.

The critical illnesses covered under this plan -
 

Sr. No. Critical Illness
1Cancer of specified severity
2Open Chest CABG
3Kidney Failure requiring regular dialysis
4Permanent paralysis of limbs
5Primary (Idiopathic) Pulmonary Hypertension
6Myocardial Infarction (First Heart Attack Of Specific Severity) 
7Stroke Resulting in Permanent Symptoms
8Major organ / bone marrow transplant 
9Multiple Sclerosis with persisting symptoms
10Surgery to Aorta
11Apallic Syndrome
12Benign Brain Tumour
13Coma of specified severity
14End Stage Liver Failure 
15End Stage Lung Failure
16Open Heart Replacement or Repair of Heart Valves
17Loss of Limbs
18Blindness
19Third degree Burns
20Major Head Trauma 
21Loss of Independent Existence 
22Cardiomyopathy
23Brain Surgery
24Alzheimer’s Disease
25Motor Neurone Disease with permanent symptoms 
26Muscular Dystrophy
27Parkinson’s Disease
28Deafness
29Loss of Speech
30Medullary Cystic Disease
31Systemic Lupus Erythematosus
32Aplastic Anaemia 
33Poliomyelitis 
34Bacterial Meningitis 
35Encephalitis
36Progressive Supra nuclear Palsy
37Severe Rheumatoid Arthritis
38Creutzfeldt – Jakob Disease
39Fulminant Viral Hepatitis
40Pneumonectomy


The premium rates for this option are guaranteed for five years only from the date of commencement of the policy. The company reserves the right to carry out a general review of the experience from time to time and change the premium as a result of such review on approval of the IRDAI. The company will give notice in writing about the change and the insured person will have the option not to pay an increased premium.

Plans that may interest you!

IndiaFirst Life Plan

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IndiaFirst Life Plan
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A protection plan for your family that helps them stand independently! IndiaFirst Life Plan gives your family a financial cushion to fall back on in your absence.

Product Benefits
  • Flexibility to choose the duration 

  • Family will receive the payout 

  • Flexibility to choose the assured amount 

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*For a Male Non-Smoker Standard Life, aged 20 years for policy term of 35 years and a premium payment term of 30 years, premium exclusive of applicable taxes (Only for Life Option of IndiaFirst Life Guaranteed Protection Plus Plan)

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