IndiaFirst Life TULIP Plus

(A Non-Par, Unit-Linked, Individual Savings Life Insurance Plan)

A ULIP that offers more to match your goals.

The IndiaFirst Life Term with ULIP Plus (TULIP Plus) is a plan amplifying the benefits of a standard ULIP offering while keeping the life insurance aspect intact. The policy is ideal for go-getters who aim high and don’t shy away from taking risks for their dreams. TULIP Plus is a type of life insurance plan that can support the future of your loved ones as well as your dreams in the long run.

Up to 100x life insurance cover
Up to 750% return of Premium Allocation charges
Riders designed to cover additional risks
Reduced premium allocation charge for higher premiums
10 diversified fund options

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

Key Features of IndiaFirst Life TULIP Plus

New Multi-Cap Equity Fund & Macro Trend Fund

The plan offers the new Multi-Cap Equity Fund, the first-ever equity fund designed to generate long-term capital growth by investing in equities and equity-related instruments. It also offers Macro Trend Fund, which is positioned as a diversified equity fund that would invest in companies that are predominantly aligned towards megatrends and long - term structural tailwinds through a multi-cap allocation approach. Fund would stick to quality companies with due attention to management pedigree and strength of underlying business.

Life Insurance Cover

A life insurance cover of up to 100x the annualised premium can be availed, allowing the life assured to build a solid foundation for the future of their loved ones.

Maturity Benefit

Total fund value at the time of plan maturity can be received as maturity benefit when the policyholder survives the plan duration.

Return of Premium Allocation Charge & Mortality Charge

The premium allocation charge and mortality charge deducted during the policy term will be added back to the fund value.

Diverse Fund Options

Choose from 10 fund options with varying risk levels based on your risk appetite.

Tax Benefits**

Avail tax benefits on the premiums paid and benefits receivable as per prevailing tax laws.

Rider Additions

The plan comes optimised with Accidental Death Benefit Rider and Total and Permanent Disability Rider.

Investment Strategy Options

Choose from three investment strategies based on what suits you best to maximise your returns.

How to Buy IndiaFirst Life TULIP Plus?

Step 1

Choose Plan

Choose Premium, Premium Payment Term & Policy Term.

Step 2

Select Sum Assured

Select your sum assured amount.

Step 3

Choose Rider Sum Assured

You can choose up to triple the base sum assured amount for the Accidental Death Benefit Rider. For the Total & Permanent Disability Rider, the sum assured remains the same as the base sum assured.

Step 4

Fund Selection

Select the amount to invest in our 10 diversified fund options, including the new Macro Trends Fund and Multi-Cap Equity Fund.

Step 5

Make Payment

Once your payment is complete, the plan will be issued to you.

Eligibility Criteria for IndiaFirst Life TULIP Plus

Age

Policy Term

Premium Payment Term

Minimum Premium

Premium Payment Mode

Age at Entry

Question: Age at Entry
Answer: Minimum: 3 years

Maximum: 65 years

Note: Ages will be considered as ages on the last birthday.
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Age at Maturity

Question: Age at Maturity
Answer: Minimum: 18 years

Maximum: 85 years

Note: Ages will be considered as ages on the last birthday.
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Policy Term

Question: Policy Term
Answer: 15, 20, 25 years
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Premium Payment Term

Question: Premium Payment Term
Answer: 5, 6, 7, 8, 9, 10 years
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Minimum Premium

Question: Minimum Premium
Answer: Annual: INR 36,000

Half Yearly: INR 18,000

Quarterly: INR 9,000

Monthly: INR 3,000

No Limit: Subject to BAUP
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Premium Payment Modes

Question: Premium Payment Modes
Answer: Yearly

Half Yearly

Quarterly

Monthly
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Investment Strategies for IndiaFirst Life TULIP Plus

Self-Managed Strategy

Choose from 10 segregated funds, offering control over premiums and freedom to switch funds, based on risk appetite and market knowledge.

Smart Switch Strategy

Safeguard your hard-earned money by systematically moving your savings into low-risk fund options near maturity.

Age Based Investment Strategy

In this strategy as per your risk appetite & basis your age maintain a well-balanced portfolio over the duration of your policy

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)

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Frequently Asked Questions (FAQs)

General

Premiums & Payments

Claims & Beneficiary

What are the different Investment Strategies/Fund Options in your policy?

Answer

IndiaFirst Life Term with ULIP Plus boasts of multiple options of investment strategies. You can choose and opt for any one of the below strategies to ensure that you are getting the optimum returns out of your premiums.

A. Self-Managed Strategy

We have a variety of fund options provided in the product. By choosing this strategy option you get access to our well-established suite of 10 segregated funds, control on how to utilize your premiums, and full freedom to switch from one fund to another. You can choose to put your premiums in one, multiple or all of these options based on your risk appetite and needs.

B. Fund Transfer Strategy

Before the Policy Commencement Date or at any policy anniversary, you may choose the Fund Transfer Strategy to earn enhanced systematic returns from the equity market over a period of time.

You can select your fund options in this strategy, where your premium after deduction of applicable charges will be allocated to chosen debt-oriented fund, along with existing units in that fund, if any. The units in the chosen debt-oriented fund are then transferred systematically on a monthly basis to the chosen equity-oriented fund in the following way:

C. Smart Switch Strategy

This investment strategy is designed to systematically move your savings into low-risk fund options near maturity to safeguard your returns. In this strategy you may choose to save in any or all of the 10 available fund options. When you choose this strategy, we move your funds systematically to Liquid 1 Fund in the last 5 policy years to ensure your hard-earned money is secure from any sudden market dips

What are Rider Benefits under this policy?

Answer: You will get the enhanced protection with riders available in the Plan.

a. IndiaFirst Life Accidental Death Benefit Rider

Events How and when benefits are payable Size of such benefits
Accidental Death In the event of death of the life assured during the term of the rider due to an accident, the nominee would receive a lump sum benefit equal to rider Sum Insured. This is an additional benefit over the base policy benefit. 100% of ADB Sum Assured will be paid as lump sum

. IndiaFirst Life Total & Permanent Disability (TPD) Rider

Events How and when benefits are payable Size of such benefits
Total & permanent Disability due to Sickness or an Accident Benefit Payable on total and permanent disability due to sickness/accident caused solely by external, violent, unforeseeable, and visible means occurring independently of any other causes should be established between within 180 days of such trauma, proved to the satisfaction of the insurer, subject to conditions for Total and Permanent Disability, being met and acceptance of the claim by us. 100% of TPD Sum Assured will be paid as lump sum.

Please refer to the Riders sales brochure for more information on rider benefits.

What are the flexibility options in the policy?

Answer

You have multiple options in the policy to ensure that it is exclusively built around your needs. Apart from different policy terms, premium payment terms, fund options and investment strategies to choose from, you can also use options like Switching, Partial Withdrawals, to ensure that your financial planning is in sync with your financial goals.

A. What is Switching?

You can move from one fund to another by switching your funds any number of times during the policy term.

Are there any limits for switching?

Under switching you may transfer some or all your units from one unit linked fund to another.

Minimum switching amount	INR 5,000
Maximum switching amount	Fund Value

What are the charges for switching between funds?

You are allowed to make unlimited number of switches in a calendar month. These switches are currently free of charge. However, we reserve the right to introduce charges, subject to prior approval from IRDAI. This shall not exceed Rs.500 per transaction.

B. What are partial withdrawals? Are they allowed?

Your policy gives you the flexibility to access your money in case of any emergency, by withdrawing partially only after the completion of your fifth policy year.

Are there any limits on partial withdrawals?

Minimum withdrawal amount	INR 10,000
Limited Premium	Maximum withdrawal amount up to 20% of the fund value at a time of partial withdrawal, only if your fund value after the withdrawal should is at least 110% of one full year premium.

Example: You can withdraw up to INR 16,000 if you pay an annual premium of INR 15,000 and have accumulated a fund value of INR 80,000 over a few years (20% of the fund value).

C. What is Premium Redirection?

You have the option of redirecting the premium from one Fund to another Fund by giving a written notice to us.

Premium redirections are free of charge currently.

D. What are the alterations allowed in the policy?

You are allowed to make the following alterations in your policy –

You have the option to change the premium frequency during the premium paying term without any charges /fees.
You have an option to increase the premium paying term or policy term during the term of the premium paying term or policy term respectively in accordance with the Board approved underwriting policy. Once the premium paying term or policy term is increased, it cannot be subsequently decreased. Policyholder is required to submit the request for increase in premium paying term and/or policy term at least one month prior to the annual policy anniversary.
You have the option to decrease the Sum Assured during the policy term provided all due premiums have been paid. Decrease in Sum Assured will not change the premium payable under the policy. Decrease in Sum Assured is allowed up to the minimum allowed under the policy. Decrease in Sum Assured would be subject to minimum Sum Assured multiple limits.

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 purchasing this policy.

Can you cancel (free-look) your policy?

Answer: You have a free look period of 30 (Thirty) days from the date of receipt of your Policy document whether received electronically or otherwise, to review the terms and conditions of the policy and in case you disagree to any of those terms and conditions, you shall have an option to return the policy to us for cancellation.

What are the charges under this policy?

Answer: Some of the common charged levied under this policy are fund management charge, mortality charge, premium allocation charge, policy administration charge,

What are the different kind of funds offered under this plan?

Answer: Plan offers 10 diversified funds:

Multi Cap Equity fund

Macro Trends fund

Equity 1

Debt 1

Balanced 1

Sustainable Equity

Dynamic Asset Allocation Fund

Equity Elite Opportunities

Liquid 1 Fund

Flexi Cap Equity

What are the other benefits in your policy?

Answer

a. Return of Premium Allocation Charge (ROAC) – Premium allocation charges deducted during the policy term, shall be added back to the fund value as per the table given below -

Policy term	Added to Fund Value at the end of Years	Return of premium allocation charges
15	11 to 15	25% of Total Allocation charge deducted is added to fund value at the end of each year
20	11 to 15	25% of Total Allocation charge deducted is added to fund value at the end of each year
20	16 to 20	50% of Total Allocation charge deducted is added to fund value at the end of each year
25	11 to 15	25% of Total Allocation charge deducted is added to fund value at the end of each year
	16 to 20	50% of Total Allocation charge deducted is added to fund value at the end of each year
	20 to 25	75% of Total Allocation charge deducted is added to fund value at the end of each year

b. Return of Mortality Charge (ROMC) – Mortality charge deducted during the policy term shall be added back to the fund value as per the table given below –

Policy term	Return of mortality charges
15	100% of mortality charge collected during the policy term
20	100% of mortality charge collected during the policy term
25	100% of mortality charge collected during the policy term

Unit Price/NAV as on the date of ROMC addition will be used for the unitization.

c. Discount on Allocation Charge

If your Policy has been purchased online or through direct marketing channel, a flat discount of 3% will be given on the First Year Premium Allocation Charge.

An additional discount of 1% on First Year Premium Allocation Charge will also be given to policies with an Annualised Premium of 2 lakhs & above.

Are you allowed to make switches and partial withdrawals during the settlement period?

Answer: No, Switches and partial withdrawals are not allowed.

Who bears the investment risk during the settlement period?

Answer: The investment risk & inherent risk will be borne by the policyholder during the settlement period.

Does the life cover benefit continue during the settlement period?

Answer

Yes, in case of the Life Assured’s demise during settlement period.

Risk cover shall be maintained at 105% of total premiums paid, accordingly mortality charges will be deducted.
We will pay the higher of fund value as on the date of intimation of death or 105% of total premiums paid, to the Nominee / Appointee / Legal Heir and the policy shall terminate immediately.

Mortality charges and Fund Management charges will be deducted, and no other charges shall be levied during this period.

On complete withdrawal during settlement period life cover ceases immediately.

When does the settlement period start?

Answer: Your settlement period starts from the maturity date and is applicable up to a period of 5 years, as chosen by you. However, you have to opt for the Settlement Option at least 3 months prior to the date of maturity.

What are the payout options at the end of the policy term?

Answer: On maturity you may choose to

Receive the entire fund value as a lump sum payment, or
You may choose to receive this payment in equal units at regular intervals (i.e. monthly/quarterly/half-yearly/yearly as chosen by the policyholder) over a period of 5 years.

What do you get at the end of the policy term (maturity benefit)?

Answer: You, the policyholder will receive the Fund Value, at the end of the policy term.

What is the impact of partial withdrawals on death benefit?

Answer: In case of life assured’s untimely demise, the Nominee(s)/ Appointee/ Legal Heir will receive the death benefit, where the sum assured will be reduced by an amount equal to the partial withdrawals made from fund value, during the 2 years immediately preceding the date of death of the life assured.

What is the IndiaFirst Life Term with ULIP Plus?

Answer: Our IndiaFirst Life Term with ULIP Plus is a non-par, unit linked, individual savings life insurance plan, specially designed to provide high life insurance coverage for those who want term insurance like protection as well as maximize returns like ULIP on their savings and create additional wealth for a comfortable life ahead. Rider cover adds to the protection.

What happens if you discontinue paying your premiums?

Answer

Based on the conditions of the discontinuation and the guidelines defined in the policy document, the policyholder may be levied a discontinuance charge.

What is the treatment of return of charges if the policy acquires a reduced paid-up status?

In case of reduced paid-up policy, the charges will be added back to the fund value based on the number the years the policy has been in force and after taking into account other relevant factors.

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

Answer: Discount in advance premium renewals may be offered based on policy guidelines.

How are premiums allocated to units?

Answer: Every premium (new business or renewal), is allocated into fund options as selected in the proposal form or through subsequent request or as per the investment strategy opted, after deducting allocation charges, if any.

How do we value units in your policy?

Answer

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 assets, 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.

Is there a grace period for missed premiums?

Answer: We provide you a grace period of 30 days for payment of all premiums under quarterly, half yearly and yearly modes and 15 days under monthly mode. This period starts from the due date of each premium payment. Your policy will be considered in-force and all your policy benefits will continue during this grace period.

What happens in case the life assured commits suicide?

Answer: In case of death due to suicide within 12 months from the date of commencement of the policy or from the date of revival of the policy, as applicable, the Nominee/ Appointee/ Legal Heir, as the case may be, shall be entitled to the fund value, as available on the date of intimation of death.
Further any charges other than Fund Management Charges and guaranteed charges recovered subsequent to the date of death shall be added back to the fund value as available on the date of intimation of death.

Policy Servicing & Grievance Handling Mechanism
You may contact us in case of any grievance at any of our branches, call us at our customer care helpline 1800 209 8700, or email.us at customer.first@indiafirstlife.com.

VISIT US:
Walk in to any of our IndiaFirst Life branch and submit your grievances.

MAIL/COURIER:
Write to us at the address mentioned below:

IndiaFirst Life Insurance Company Ltd, 12th and 13th Floor, North [C] wing, Tower 4, Nesco IT Park, Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400063

After we receive your complaint, we will write back to you with reasons for either redressing or rejecting it, within 15 calendar days from its receipt.

You can view our Grievance Redressal Policy here.

What happens in case of the Life Assured’s demise (death benefit)?

Answer: 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 death benefit under the policy as guided by the policy details

What happens in case the life assured commits suicide?

Question: What happens in case the life assured commits suicide?
Answer: In case of death due to suicide within 12 months from the date of commencement of the policy or from the date of revival of the policy, as applicable, the Nominee/ Appointee/ Legal Heir, as the case may be, shall be entitled to the fund value, as available on the date of intimation of death.
Further any charges other than Fund Management Charges and guaranteed charges recovered subsequent to the date of death shall be added back to the fund value as available on the date of intimation of death.

Policy Servicing & Grievance Handling Mechanism
You may contact us in case of any grievance at any of our branches, call us at our customer care helpline 1800 209 8700, or email.us at customer.first@indiafirstlife.com.

VISIT US:
Walk in to any of our IndiaFirst Life branch and submit your grievances.

MAIL/COURIER:
Write to us at the address mentioned below:

IndiaFirst Life Insurance Company Ltd, 12th and 13th Floor, North [C] wing, Tower 4, Nesco IT Park, Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400063

After we receive your complaint, we will write back to you with reasons for either redressing or rejecting it, within 15 calendar days from its receipt.

You can view our Grievance Redressal Policy here.
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What happens in case of the Life Assured’s demise (death benefit)?

Question: What happens in case of the Life Assured’s demise (death benefit)?
Answer: 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 death benefit under the policy as guided by the policy details
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Available in 16,500+

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27,073 Crore

AUM as of Feb'2024

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Disclaimer

The linked insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in linked insurance policies are subject to investment risks associated with capital markets and publicly available index. The NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital/market/publicly available index and the insurance is responsible for his/her decision. IndiaFirst Life Insurance Company Limited is only the name of the Life Insurance Company and IndiaFirst Life Term with ULIP Plus (UIN: 143L073V01) is only the name of the Life Insurance Product and does not in any way indicate the quality of the contract, its future prospects or returns. For more details on risk factors and terms and conditions, please read the sales brochure carefully before concluding the sale. Please know the associated risks and the applicable charges, from your insurance agent or intermediary or policy document issued by the insurance company. The various funds offered under this contract are names of the fund and do not in any way indicate the quality of these plans, their prospects and returns. IndiaFirst Life Insurance Company Limited, IRDAI Regn No.143, CIN: U66010MH2008PLC183679, Address: 12th & 13th floor, North Tower, Building 4, Nesco IT Park, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai – 400 063. Toll free No – 18002098700. Email id: customer.first@indiafirstlife.com, Website: www.indiafirstlife.com. Fax No.: +912268570600. Trade logo displayed above belongs to our promoter M/s Bank of Baroda and is used by IndiaFirst Life Insurance Co. Ltd under License. Purchase of any Insurance product by Bank’s Customer is purely voluntary, and is not linked to availment of any other facility from the Bank.