IndiaFirst Life Plan - Pure Term Insurance Plan

(Non-Linked, Non-Participating, Pure Term Insurance Plan)

A hassle-free term insurance plan designed to support your family’s financial independence. The IndiaFirst Life Plan provides a safety net, ensuring they have financial stability in your absence. With coverage of up to 80 years and high protection at affordable rates, you can choose a life cover ranging from ₹1 lakh to ₹50 crore. In the event of an untimely passing, your family receives a guaranteed lump sum payout immediately.

Flexibility to choose the duration
Family will receive the payout
Flexibility to choose the assured amount
Long term protection
Tax* benefits

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Overview
Key features
How to Buy
Sample Illustrations
Eligibility Criteria
Customer Feedback
FAQ

Key features

Life cover up to 50 Crore

Choose a life cover from ₹1 lakh to ₹50 Crore & enjoy the benefits of choosing your term from 5 years to 40 years.

Long term coverage

Get life cover up to age 80

Death benefits

Your family is secured, as they get an assured lumpsum benefit immediately, in case of untimely death of the life assured

Tax benefits

You also stand to get tax* benefits for the premiums you pay and benefits you receive as per applicable tax* laws.

Flexible Premium Payment Options

Choose your premium payment frequency: monthly, half-yearly, yearly, or opt for a one-time payment as per your preference.

How to buy this term insurance plan?

Step 1

Enter your details

Fill in your basic details like name, mobile number, gender, DOB and other required essentials.

Step 2

Choose the life cover amount

Choose from life cover between ₹1 lakh and ₹50 crore based on your preference and requirement.

Step 3

Review your quote

A quote will be generated to review your details and coverage options.

Step 4

Make the payment

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

Visualize your Plan

Vikas Rai

Swati Mishra

40 Years

Vikas, married with 2 kids, buys a term plan of ₹ 2 Crore cover for 20 years

40-58 Years

Vikas pays annual premium of ₹ 41,740 for 18 years

At 59 Years

Vikas passes away during the policy term

Vikas’s Wife

Gets ₹ 2 Crore as Lumpsum pay out

40 Years

Swati, a single mother, buys a term plan of ₹ 1 Crore cover for 30 years

40-60 Years

Swati pays annual premium of ₹ 19,070 for 20 years

At 61 Years

Swati passes away during the policy term

Swati’s Daughter

Gets ₹ 1 Crore as Lumpsum pay out

Eligibility Criteria

Age

Policy Term

Premium Payment Frequency

Sum Assured

Premium Payment Term

Age at Entry

Question: Age at Entry
Sequence
Answer: Minimum - 18 years
Maximum - 60 years
Tags

Age at Maturity

Question: Age at Maturity
Sequence
Answer: Minimum - 23 years
Maximum - 80 years
Tags

Policy Term

Question: Policy Term
Sequence
Answer: Minimum - 5 years
Maximum - 40 years
Tags

Premium Payment Frequency

Question: Premium Payment Frequency
Sequence
Answer: Monthly, Half yearly, Annually & One-time payment
Tags

Sum Assured

Question: Sum Assured
Sequence
Answer: ₹1 Lakh to ₹50 Crore
Tags

Premium Payment Term

Question: Premium Payment Term
Sequence
Answer: Single Pay – One Time Payment
Regular Pay – Equal to Policy Term
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

General

Policy Types

Premiums and Payments

Claim

What is the IndiaFirst Life Plan?

Answer: IndiaFirst Life Plan is a pure protection policy which offers an insurance cover on your life. The policy secures your family members/ loved ones in case of unfortunate event of the life assured’s demise. This plan can also be bought online.

Who are the people involved in the policy?

Answer

This policy may include the ‘Life Assured’, the ‘Policyholder’, the ‘Nominee(s)’ and the ‘Appointee’.

Who is a Life Assured’?

Life assured is the person, on whose life the policy depends. The policy ends and the benefit is paid out on the life assured’s death.

Maximum age at the time of applying for the policy	60 years as on the last birthday
Maximum age at end of the policy term	80 years as on the last birthday
Minimum age at the time of applying for the policy	18 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. A Policyholder must be at least 18 years old while applying for the policy. You can choose a nominee under than policy if you and the life assured are the same.

Who is a Nominee(s)?

A nominee(s) is the beneficiary under the policy who receives the death benefit in case of the life assured’s demise. The nominee(s) is appointed by you, the policyholder. The nominee(s) can even be a minor (i.e. below 18 years of age).

Who is the Appointee?

An appointee is the person you can nominate at the time of buying the policy in case your nominee(s) is a minor. The appointee receives the benefits under the policy and holds the same till the nominee(s) attains 18 years of age.

What is the life cover under this policy?

Answer

The life cover is the sum assured opted for which you take the policy. However, you have the option to select your life cover as per your requirements.

Minimum life cover / sum assured	Maximum life cover / sum assured
₹1,00,000	₹50,00,00,000

*The life cover should be in multiples of ₹1,000

What is the term of the policy?

Answer: Regular Premium Single Premium
5 to 40 years 5 to 40 years

Can you cancel your policy?

Answer: Yes, you can cancel your policy if you disagree with any of the terms and conditions within the first 30 days (free look period) from receipt of your policy document, whether received electronically or otherwise. You can return the policy to us, while stating your specific objections.

We will return your premium as follows –

Premium paid

Less: i. Risk Premium for the period you were covered under the policy

ii. Charges towards medical examination, if any

iii. Stamp duty charges

Can you surrender your policy?

Answer

Yes. You have the flexibility to surrender your policy.

Regular premium	Single premium
No Unexpired Risk Premium value payable	Unexpired Risk Premium value i s payable only if you surrender the policy any time after the second policy year and before the end of the policy term. It is calculated as– 40%xPremiumpaidx(Unexpired Term*/TotalPolicyTerm)

*Unexpired term will be calculated as on the date of lapse or, in case the cover is continuing, the date of surrender.

Do you get any loan benefits under your policy?

Answer: No. Loan is not available under this policy.

What are the premium paying modes available?

Answer

Regular premium	Single Premium
Monthly (through ECS or Direct Debit), six monthly yearly	Onetime payment only

How much you need to pay?

Answer

Premium will depend on the life assured’s age, the policy term and the sum assured.

Premium Frequency	Minimum Premium Amount Rs
Monthly	Rs 100
Six monthly	Rs 500
Yearly	Rs 1,000
One Time Payment	Rs 5,000

The mode of premium payment and frequency will also impact the premium amount.
The following premium frequency factors for monthly and half-yearly policies will apply on the yearly premium to get instalment premium.

Premium Frequency	Factor To Be Applied To Yearly Premium
Monthly	0.0870
Half Yearly	0.5119

To get estimates for your term plan, you can use a term insurance calculator. It takes into consideration some relevant factors such as sum assured, coverage duration, premium payment frequency, and more, to offer you estimates that can help you plan better.

What is the benefit payable in case of the life assured’s demise?

Answer: In the unfortunate event of the life assured’s demise during the policy period, the nominee (the person chosen to receive the benefits) will get a lump sum amount. This amount is equal to the sum assured. Not just that, the death benefit paid to the nominee(s) will be more than 105% of all the premiums paid at any point in time.

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

Answer: There is no maturity or survival benefit payable under this policy. This is a non participating pure term insurance policy.

Your options if you miss paying premiums Is there a grace period for missed premiums?

Answer: We provide you a grace period of 30 days in case of six monthly or yearly premium mode and 15 days in case of monthly premium mode. This period starts from the due date of each premium payment. All your policy benefits continue during this grace period. In case of death during the grace period we will pay the sum assured to the nominee/appointee/legal heir after deducting the due premium.

If you do not pay your premiums before the end of the grace period, your life cover ceases and your policy will lapse.

What are your options to revive the policy?

Answer

You can revive your policy within a specified period of five years, if you have been unable to pay premiums due to constraints by–

Simply paying the pending premium amount without any interest
Begin the regular payment of premiums

Are there any constraints to revive your policy?

Yes. You can 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. The revival is subject to satisfactory medical and financial requirements raised by the Company, and board approved underwriting guidelines The medical cost, if any to be borne by you.

What happens in case the life assured commits suicide?

Answer: If someone covered by the term plan policy, unfortunately, passes away due to suicide within the first 12 months from when the policy started or was revived, the nominee or beneficiary will receive support. They will be entitled to 80% of the total premiums paid till the date of death or the Unexpired Risk Premium value available as on the date of death – whichever is higher. This applies as long as the policy is in force.

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