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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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Minimum - 5 years
Maximum - 65 years
Minimum - 18 years
Maximum - 75 years
No limit subject to underwriting
| Regular and Limited Premium | Single Premium |
|---|---|
For Age 5 to 49 years - 7* Annualized Premium For Age 50 and above – 5* Annualized Premium | For Age 5 to 49 years -1.25 times of single premium For Age 50 and above – 1.10 times of single premium |
| Age Band | For Regular Premium Policies | For Limited(5 Yrs) Premium Policies | For Limited(7 Yrs) Premium Policies | For Single Premium Policies(5 Term) | For Single Premium Policies(Other than 5 Term) |
|---|---|---|---|---|---|
| 0-25 | 40 | 25 | 25 | 10 | 5 |
| 26-30 | 40 | 20 | 25 | 10 | 5 |
| 31-35 | 40 | 15 | 20 | 10 | 4 |
| 36-39 | 35 | 10 | 15 | 10 | 2 |
| 40-45 | 30 | 7 | 10 | 2 | 2 |
| 46-65 | 7 | 7 | 7 | 1.25 | 1.25 |
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 Money Balance Plan is a unit linked individual savings life insurance policy that helps you save for the future, while limiting your exposure to market fluctuations. The policy is designed to offers market linked returns along with the security of a life cover.
You can move from one fund to another by switching your premium.
Under switching you may transfer some or all your units from one unit linked fund to another.
| Minimum switching amount | Maximum switching amount |
|---|---|
| ₹ 5,000 | Fund Value |
You are allowed to make only two switches in a calendar month. Switches are free of charge. However, the unused free switches cannot be carried forward to the next calendar month.
We will value your units in line with the unit linked guidelines issued by the IRDAI. As per the prevailing guidelines of the Authority, Unit Price will be calculated as follows –
Market value of the investment held by the fund
Plus: value of current assets
Less: value of current liabilities and provisions, if any,
Divided: by the number of units existing on the valuation date (before creation/redemption of units).
When divided by the total number of units in the fund at the valuation date (before any units are redeemed), we get the unit price of the fund under consideration.
We provide you a grace period of 30 days for payment of all premiums under half yearly and yearly modes and 15 days under monthly mode. This period starts from the due date of each premium payment. All your plan benefits continue during this grace period.
| Regular Premium | Limited Premium | Single Premium |
|---|---|---|
| Monthly, Half yearly, Yearly | Monthly, Half yearly, Yearly | Onetime payment only |
| Minimum Premium | Monthly | Half yearly | Yearly |
|---|---|---|---|
| Regular Premium | Rs 1,000 | Rs. 6,000 | Rs. 12,000 |
| Limited Premium | Rs 1,250 | Rs. 7,500 | Rs. 15,000 |
| Single Premium | - | - | Rs. 45,000 |
| Maximum Premium | No limit subject to underwriting | No limit subject to underwriting | No limit subject to underwriting |
This policy may include the ‘Life Assured’, the ‘Policyholder’, the ‘Nominee(s)’ and the ‘Appointee’.
Life Assured is the person, on whose life the policy depends. On the life assured’s death, the benefit is paid out to the Nominee(s) / Appointee / Legal Heir and the policy terminates. Any Indian citizen can be the life assured, as long as -
| Minimum age at the time of applying | Minimum age at the time of maturity | Maximum age at the time of applying | Maximum age at the time of maturity |
|---|---|---|---|
| 5 years as on last birthday | 18 years as on last birthday | 65 years as on last birthday | 75 years as on last birthday |
Life cover for the minor life starts at the end of two years from the date of commencement of the policy or at the first monthly policy anniversary after attainment of age 18 years whichever is earlier. In case the Life Assured is a minor, the policy will vest on the Life Assured on attainment of age 18 years. If the Life Assured is a minor then, on death of Policyholder, the Policy immediately and automatically vest in the surviving parent of the Insured.
Policyholder is a person who holds the policy. The policyholder may or may not be the life assured. To be a policyholder, you must be at least 18 years as on your last birthday at the time of applying for the policy.
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).
Appointee is the person whom you may appoint at the time of buying the policy in case your nominee is a minor. The appointee takes care of the policy in your absence.
You receive the fund value at the end of the policy term.
On maturity you may choose to -
During the Settlement period, applicable fund management charges and mortality charges will be applicable. The policyholder can withdraw the balance fund value at any time during the settlement period.
Your settlement period starts from the maturity date and is applicable up to a period of 5 years. First instalment under settlement option shall be payable on the date of maturity. However, you have to opt for the Settlement Option at least 3 months prior to the date of maturity.
Yes, in case of the life assured’s untimely demise during the settlement period, we will pay higher of the fund value as on the date of intimation of death or 105% of the total premiums paid to the Nominee(s) / Appointee / Legal Heir and the policy shall terminate.
However, on complete withdrawal during settlement period life cover ceases immediately.
The investment risks will be borne by the policyholder during the settlement period.
No, switches/ partial withdrawals are not allowed during the settlement period.
In the untimely event of the life assured’s demise while the policy is in force or from the due date of first unpaid premium till the expiry of the grace period, the Nominee(s)/Appointee/Legal Heir, as the case may be, will receive the benefit under the policy equal to higher of fund value as on date of death or sum assured, either
The amount will be paid out to the appointee, if the nominee(s) is a minor. However, at any point of time, the death benefit will not be less than 105% of the total premiums paid during the policy term.
In the untimely event of death of the minor life assured before the commencement of risk, the death benefit will be equal to the fund value.
In case of paid-up policies, on death of the life assured, a lump sum amount equal to higher of the paid-up sum assured or fund value will be payable to the Nominee(s)/ Appointee/Legal Heir, as per the payout option selected by the policyholder at the inception of the policy.
The Sum Assured / paid up sum assured will be reduced by the amount equal to the partial withdrawals, if any made during the 24 months immediately preceding the date of death of the life assured.
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Protect your family’s future.
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Buy your dream house.
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BEWARE OF SPURIOUS PHONE CALLS 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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