IndiaFirst Life TULIP Pro Plan

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

Maximised Life Cover, Optimised Investment

IndiaFirst Life TULIP Pro Plan gives you more than the dual benefits of insurance and investment – it comes with multiple features to make your ULIP journey an optimal one. Ensure a substantial life cover for your loved ones while enjoying potential high returns through market-linked investments. TULIP Pro is ideal for those who want more than the usual – it is for those who prefer the best of life insurance protection with the most of investment opportunities.

Up to 20X Life Cover for Your Loved Ones
Additional Coverage through In-built TERM Rider
Multiple Investment Strategies and up to 10 Diversified Funds
Up to 600% of Premium Allocation Charges returned at Maturity
Tax Benefits under Section 80C and Section 10 (10D)

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

Key Features of the IndiaFirst Life TULIP Pro Plan

Dual Benefits - Protection + Investment

Secure your family’s future with a high sum assured while you grow your wealth by investing in equity, debt, multi-cap, and liquid funds, among other options for long-term returns.

Inbuilt Term Rider Benefit

TULIP Pro includes an inbuilt TERM rider, which provides additional coverage without extra cost and enhances your life insurance protection considerably.

Diversified Fund Options

Choose from up to 10 funds (equity, debt, liquid, multi-cap, flexi-cap, and more) managed by professionals, to suit your risk appetite and financial goals.

Return of Charges

Get 100% of mortality charges back at maturity and up to 600% of premium allocation charges at different stages during the TULIP Pro policy term. Boost your fund value at no extra cost.

Flexible Investment Strategies

Choose from a variety of investment strategies, such as Self-Managed, Smart Switch, or Age-Based Strategy, to customise your investment approach on the basis of market conditions and risk tolerance.

Accidental Death and Disability Rider

Optional riders, such as Accidental Death rider and Total/Permanent Disability rider, offer extra coverage to ensure comprehensive protection.

Partial Withdrawals After 5 Years

Access funds when needed with partial withdrawals after the mandatory 5-year lock-in period is over, to meet your liquidity needs.

Tax Benefits Under Section 80C & 10(10D)**

Enjoy tax deductions on the premiums you pay for the TULIP Pro policy (up to ₹1.5 lakh per year) and tax-free maturity/death benefits.

ULIP taxation benefits are subject to terms and conditions.

How to Buy the IndiaFirst Life TULIP Pro Plan?

Step 1

Curate Your Plan

Choose the premium, premium payment term (6,7, and 8 years), and policy term (20 or 25 years).

Step 2

Select the Sum Assured

Finalise on a sum assured amount that will be suitable for your loved ones in your absence. You can use a ULIP calculator to get help in choosing the right coverage amount.

Step 3

Choose Rider Sum Assured

Increase the overall protection of your plan by opting for additional riders, such as Accidental Death rider and Total/Permanent Disability rider.

Step 4

Choose Fund and Investment Strategy

Take your pick from the 10 fund options as per your needs. Next, select an investment strategy that you want to start with, from options such as Self-Managed, Smart Switch, or Age-Based Strategy.

Step 5

Complete Payment

Pay via net banking, UPI, or debit/credit card. Once the payment is processed, you will soon receive a copy of your TULIP Pro policy.

Eligibility Criteria for the IndiaFirst Life TULIP Pro Plan

Age

Premium Payment Term

Policy Term

Minimum Premium

Age at Entry

Question: Age at Entry
Answer: Minimum: 18 years

Maximum: 65 years
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Age at Maturity

Question: Age at Maturity
Answer: Minimum: 38 years

Maximum: 85 years
Tags

Premium Payment Term

Question: Premium Payment Term
Answer: 6,7,8 years
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Policy Term

Question: Policy Term
Answer: Minimum: 20 years

Maximum: 25 years
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Minimum Premium

Question: Minimum Premium
Answer: Yearly: ₹1,00,000

Half-yearly: ₹60,000

Quarterly: ₹30,000

Monthly: ₹15,000
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Investment Strategies for IndiaFirst Life TULIP Pro

Self-Managed Strategy

Take full control of your investments with 10 diversified funds. Actively switch between equity, debt, and hybrid options based on your understanding of market trends. You decide where your funds go to earn optimal returns. Ideal for a seasoned investor looking for a customisable investment portfolio.

Smart Switch Strategy

Automatically shifts from equities to safer debt funds as your plan nears its maturity. The strategy starts with aggressive growth for solid returns, then switches to debt options to protect the gains. It is perfect for hands-off investors looking for a balance of risk and return.

Age Based Investment Strategy

Allocates funds based on your age - more equities when young, with a shift towards debt later. Ideal for those who prefer a hassle-free, risk-adjusted and passive approach with their portfolio.

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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FAQs

TULIP Pro Basics

TULIP Pro Flexibility

Risk, Returns, and Benefits

Premiums and More

Policy Term Queries

ULIP Charges

What is the IndiaFirst Life TULIP Pro Plan?

Answer

Our IndiaFirst Life TULIP Pro Plan is a non-participating, unit-linked, individual, savings life insurance plan available in limited premium mode.

This product offers life coverage throughout the policy term and the fund value at maturity. Additionally, it refunds 100% of the mortality charges deducted during the policy term at maturity and Y% of the total premium allocation charges deducted during the policy term, where Y% is as follows:

Policy Year/Policy Term	20	25
15	100%	100%
20	200%	200%
25	Nil	300%

The return of premium allocation charges will be credited into the fund at the end of the policy year as specified above.

TULIP Pro offers a death benefit being the greater of:

Fund value or
Sum Assured on Death or
105% of Total Premiums Paid (TPP)

Please refer to the sales brochure for more details.

What are the optional Rider Benefits under this policy?

Answer

You will get enhanced protection with riders available in this ULIP 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

“ADB Sum Assured” means an absolute amount of benefit which is guaranteed to become payable. On the death of the life assured due to an Accident in accordance with the terms and conditions of the policy.

“Total Premiums Paid” means the total of all premiums received, excluding any extra premiums and applicable taxes.

“Accident” means a sudden, unforeseen, and involuntary event caused by external, visible, and violent means.

“Accidental Death” means death of the life Assured due to an Accident, where such accident happens within the policy term and the policyholder’s coverage is in force at the time of such event.

Accidental death should occur within 180 days of the date of the Accident. If the Accident occurs before the end of the Policy Term, but death caused by such Accident occurs after the end of the Policy Term and within 180 days of the Accident, the Rider sum assured shall be payable.

b. 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.

TPD Sum Assured means an absolute amount of benefit which is guaranteed to become payable on Total and Permanent Disability due to sickness or an accident in accordance with the terms and conditions of the policy.

Total Premiums Paid means the total of all premiums received, excluding any extra premiums and applicable taxes.

Accident is a sudden, unforeseen, and involuntary event caused by external, visible and violent means.

Injury is an accidental physical bodily harm, excluding illness or disease, solely and directly caused by external, violent, visible, and evident means, which is verified and certified by a Medical Practitioner.

Illness is a sickness or a disease or pathological condition leading to the impairment of normal physiological function, which manifests itself during the Policy Period and requires medical treatment.

'Total and Permanent Disability' or ‘TPD’ means disablement of the Person Insured, which meets the criteria of the IndiaFirst Life Total and Permanent Disability Rider.

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

What is the Survival & Maturity Benefit under this plan?

Answer

While the Policy is in force:
i. Survival Benefit: In case Life Assured survives until the end of the specified period (other than maturity), Return of Premium Allocation Charges, i.e., Y% (as mentioned below) of Premium Allocation Charges collected, shall be added to the Fund Value.

Policy Year (specified period) Policy Term
20 years 25 years

(Y)

(Y)

15

100%

100%

20

200%

200%

25

Nil

300%

The amount calculated as above shall exclude any GST and cess with respect to the Premium Allocation Charge that has been deducted.

ii. Maturity Benefit: In case Life Assured survives till the end of Policy Term, the Fund Value, as on the Maturity Date or as per the Settlement Option chosen, PLUS Return of Mortality Charges, i.e., (100% of Mortality Charges collected during the Policy Term), shall be payable.

The amount payable under the Return of Mortality Charges, including any extra mortality charged, if any, shall exclude any GST and cess with respect to Mortality Charges that have been deducted.
While the Policy is in Reduced Paid-up status:
i. Survival Benefit: In case Life Assured survives until the end of the specified period (other than maturity), Return of Premium Allocation Charges, i.e., Y% (as mentioned below) of Premium Allocation Charges collected * (Total numbers of Premiums paid)/ (Total number of Premiums payable over the Policy Term), shall be added to the Fund Value.

Policy Year (specified period) Policy Term
20 years 25 years

(Y)

(Y)

15

100%

100%

20

200%

200%

25

Nil

300%

The amount calculated as above shall exclude any GST and cess with respect to the Premium Allocation Charge that has been deducted.

ii. Maturity Benefit: In case Life Assured survives till the end of the Policy Term, the Fund Value as on the Maturity Date or as per the Settlement Option chosen, PLUS Return of Mortality Charges, i.e., 100% of Mortality Charges * (Total numbers of Premiums paid)/ (Total number of Premiums payable over the Policy Term), shall be payable.

The amount payable under the Return of Mortality Charges, including any extra mortality charges if any, shall exclude any GST and cess with respect to the Mortality Charge that have been deducted.

Whereas under both (A) and (B) above,

i. The total amount of Premium Allocation Charges added into each Fund available in the Policy will be in the same proportion of the Fund Value as at the date of addition.

ii. Amount of Premium Allocation Charge returned in Survival Benefit and Maturity Benefit will be exclusive of any discount on the first-year Premium Allocation Charge.

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

Note: If the Policyholder has made any Partial Withdrawals during the term of the Policy Term, then the amounts pertaining to return of charges as stated above shall be reduced by a factor X%, subject to a maximum of 100%. Where “X” is defined as the sum total of Partial Withdrawals expressed as % of Fund Value prevailing at the time of respective Partial Withdrawals.

What are the Fund Options & Strategies available under this plan?

Answer: 1. Equity1 6. Flexi Cap Equity Fund
2. Debt1

7. Sustainable Equity Fund

3. Multi-Cap Equity Fund

8. Large Cap Equity Fund

4. Value

9. Equity Elite Opportunities

5. Macro Trends Fund

10. Liquid1

INVESTMENT STRATEGIES UNDER THIS PLAN

Self-Managed Strategy

Age-Based Strategy

Smart Switch Strategy

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. Currently, these switches are free of any charge. Policyholder is allowed to switch funds during the minority of a life assured.

i) Are there any limits for switching?

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

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

ii) What are the charges for switching between funds?

You are allowed to make an 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 ₹500 per transaction.

B. What are partial withdrawals? Are they allowed?

In case of any financial emergencies, you can choose to withdraw from your accumulated funds by means of a Partial Withdrawal.

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.

i) Are there any limits on partial withdrawals?

Minimum withdrawal amount	INR 10,000
Limited Premium	Maximum withdrawal amounts up to 20% of the fund value at a time of partial withdrawal, only if your fund value after the withdrawal 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).

The partial withdrawals which may result in termination of a contract shall not be allowed.

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.

Under premium redirection, you can redirect the future premiums towards a different fund or set of funds. However, under the premium redirection option, your past allocation of premium does not change.

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. The policyholder is required to submit the request for an increase in the 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 the minimum Sum Assured multiple limits.

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

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

Can you cancel your policy during the Free Look period?

Answer: Yes, you can return your TULIP Pro policy within the Free Look period; in case you disagree with any of the policy terms and conditions and have not made any claims, you shall have the option of returning the policy to us for cancellation stating the reasons for the same within 30 days from the date of receipt of the policy whether received electronically or otherwise.

Do you get a refund when you cancel your policy?

Answer

Yes. We will refund an amount (within 7 days of receipt of such request) equal to the -

Non-allocated premium plus charges levied by cancellation of units plus fund value at the date of cancellation

Less:

Pro-rata mortality charge
Any stamp duty paid
Expenses incurred on medical examination, if any.

This amount is adjusted by the fund performance between the date of receipt of premium and the date of cancellation.

Is your policy prone to risks? If yes, who bears the risk?

Answer

Yes, your TULIP Pro policy does carry risks.

IndiaFirst Life Insurance Company Limited is only the name of the insurance company and “IndiaFirst Life Term with Unit-Linked Insurance Plan (TULIP)” is only the name of this unit-linked fund-based insurance policy and does not in any way indicate the quality of this Policy, its future prospects or returns.

Unit-linked insurance products are subject to investment risks which are borne by you.

The premiums paid in the unit-linked insurance policies are subject to investment risks associated with the capital markets, and the NAVs of the Units may go up or down based on the performance of the Funds and factors influencing the capital market, and the insured is responsible for his/her decision.

Investments in the Funds are subject to market risks, and the investment risks in the investment portfolio are borne by you.

The Funds or the names of the Funds as shown in this Policy do not in any manner indicate or guarantee the quality of the Funds, future prospects or returns. The past performance of any of our Funds is not indicative of the future performance of any of these Funds.

We do not guarantee the Fund Value or the NAV. Please note that depending on the market risk and the performance of the Funds to which the Units are referenced, the Fund Value or the NAV may fall, rise or remain unchanged. We have not given any assurance that the objectives of any of the Funds will be achieved.

The Funds do not offer a guaranteed or assured return except to the extent as guaranteed or assured by us under this Policy.

Do you get guaranteed returns from any of the funds mentioned in your policy?

Answer: No. None of our funds offers a guaranteed or assured return. The fund names do not indicate the quality of the respective funds, their future prospects or returns, in any manner.

Does the past performance of your policy guarantee future performance as well?

Answer: The past performance of our other funds does not necessarily indicate the future performance of any of these funds.

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.

In case of maturity of a reduced paid-up policy, the policyholder will receive the Fund value as on the date of maturity.

If the policyholder has done any partial withdrawals during the term of the policy, the said amount shall be reduced by a factor X%, subject to a maximum of 100%.

Where X is defined as the sum total of partial withdrawals expressed as % of the fund value prevailing at the time of respective partial withdrawals.

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.

What are the Tax benefits under this policy?

Answer: Tax benefits may be available on premiums paid and benefits receivable as per the prevailing Income Tax Laws. ULIP taxation is subject to change from time to time as per the Government Tax laws. Please consult your tax consultant before purchasing this policy.**

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

Answer

We will offer a discount on the renewal premium amount if you pay the premium at least one month prior to the premium due date up till 12 months prior to the premium due date, provided this period falls within the same financial year as the premium due date. The premium due in one financial year may be collected in advance in the earlier financial year for a maximum period of three months in advance of the due date of the premium to be eligible for discounts. No discount will be offered if the premium is paid within one month prior to the premium due date.

The discount rate applicable for the quarter will be calculated using the 5-year G-Sec bond yield (rounded to nearest 5 bps) as at the beginning of the quarter. Any change of the above basis is subject to IRDAI approval.

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.

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 the 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 if you discontinue paying your premiums?

Answer

a. Discontinuance of the Policy during the lock-in period

a) Upon expiry of the grace period, in case of discontinuance of the policy due to non-payment of premium, the fund value after deducting the applicable discontinuance charges, shall be credited to the discontinued policy fund, and the risk cover and rider cover, if any, shall cease.

b) On such discontinuance, we will communicate the status of the policy, within three months of the first unpaid premium, to the policyholder and provide the option to revive the Policy within the Revival Period of three years

In case the policyholder opts to revive but does not revive the policy during the revival period, then the proceeds of the discontinued policy fund shall be paid to the policyholder at the end of the revival period or the lock in period, whichever is later. In respect of the revival period ending after the lock-in period, the policy will remain in the discontinuance fund till the end of the revival period. The fund management charges of the discontinued fund will be applicable during this period, and no other charges will be applied

In case the policyholder does not exercise the option as set above, the policy shall continue without any risk cover if any, and the policy fund shall remain invested in the discontinuance policy fund. At the end of the lock-in period, the proceeds of the discontinuance fund shall be paid to the policyholder, and the policy shall terminate.

However, the policyholder has an option to surrender the policy anytime, and the proceeds of the discontinued policy shall be payable at the end of the lock-in period or the date of surrender, whichever is later.

Revival of the Discontinued Policy during the lock-in period -

a) Where the policyholder revives the policy, the policy shall be revived, restoring the risk cover, along with the investments made in the segregated funds as chosen by the policyholder, out of the discontinued fund, less the applicable charges in accordance with the terms and conditions of the policy.

b) At the time of revival:

1. all due and unpaid premiums will be collected without charging any interest or fee.

2. premium allocation charge will be levied as applicable during the discontinuance period. No other charges shall be levied. The riders may also be revived at the option of the policyholder.

3. the discontinuance charges deducted at the time of discontinuance of the policy will be added back to the fund.

b) Discontinuance of the Policy after the Lock-in period

1. Upon expiry of the grace period, in case of discontinuance of policy due to non-payment of premium after lock-in period, the policy shall be converted into a reduced paid-up policy with the paid-up sum assured i.e. original sum assured multiplied by the total number of premiums paid to the original number of premiums payable as per the terms and conditions of the policy. The policy shall continue to be in reduced paid-up status without rider cover, if any. All charges as per the terms and conditions of the policy may be deducted during the revival period. However, the mortality charges shall be deducted based on the reduced paid-up sum assured only

2. On such discontinuance, the status of the policy will be communicated, within three months of the first unpaid premium, to the policyholder and provide the following options:

(1) To revive the policy within the revival period of three years, or

(2) Complete withdrawal of the policy.

3. In case the policyholder opts to revive the policy but does not revive the policy during the revival period, the fund value shall be paid to the policyholder at the end of the revival period.

4. In case the policyholder does not exercise any option as set out above, the policy shall continue to be in reduced paid-up status. At the end of the revival period, the proceeds of the policy fund shall be paid to the policyholder, and the policy shall terminate.

5. However, the policyholder has an option to surrender the policy anytime and proceeds of the policy fund shall be payable.

Revival of the Discontinued Policy after the lock-in period

a) Where the policyholder revives the policy, the policy shall be revived, restoring the original risk cover in accordance with the terms and conditions of the policy.

b) At the time of revival:

1. all due and unpaid premiums under base policy will be collected without charging any interest or fee.

2. premium allocation charge will be levied as applicable. The riders may also be revived at the option of the policyholder.

3. No other charges shall be levied.

When and how does your premium get allocated to units in your policy?

Answer

The allotment of units to you, the policyholder, will be done only after we receive the premium amount.

New Business: We will allocate new units on the Business day we receive premiums if we receive these before 3:00 p.m. They are allocated the next day if we receive them after 3:00 p.m.

Renewal Premiums: We will allocate the premium on the Premiums due date, whether or not it has been received before the due date. (This assumes that the full premium is received on the due date). We will keep the renewal premiums received before the due date in the deposit account. It will not earn any returns until the renewal premium due date. On the due date, we will use the same for unit funds.

How do we value your units at the time of renewals and redemptions of your premiums?

We will value your units in line with the unit-linked guidelines issued by the IRDAI.

For renewal premiums/funds switch/maturity/surrender received till 3:00 p.m.: We will apply the closing unit price of the day on which your renewal premium/ funds switch/ maturity/ surrender is received. This can happen only if we receive it by 3.00 p.m. along with a local cheque or a demand draft payable at par at the place where the premium is received.

For renewal premiums/funds switch/maturity/surrender received after 3:00 p.m.: We will apply the closing unit price of the next business day if we receive your renewal premiums/ funds switch/ maturity/ surrender after 3.00 p.m. This has to be accompanied by a local cheque or a demand draft payable at par at the place where the premium is received.

For outstation cheques/ demand drafts: We will apply the closing unit price of the day on which cheques/demand draft is realised if the cheque you issue for premium renewal is an outstation cheque/demand draft.

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, the 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.

Does the life cover benefit continue during the settlement period?

Answer

Yes, in case of the Life Assured’s demise during the 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 the fund value as on the date of intimation of death or 105% of the 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 the settlement period, life cover ceases immediately.

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.

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. This period is called the Settlement Period. During this period, only the fund management and mortality charges will be applicable. You can ask for the balance fund value at any time during the settlement period.

You may place your funds in the Liquid1 Fund, or any other fund allowed under this product, at the time of exercising the settlement option.

What are the charges under the policy?

Answer

Type of Charge

Charge Details

Description

Fund Management Charge (FMC)

The fund management charge for the various funds offered under this plan is 1.35% per annum. Fund management charges are the same for all funds to encourage policyholders to make fund choices based on their risk appetite and not on the basis of fund management charges.

The fund management charge applicable for the discontinuance fund is 0.50% p.a. on the discontinuance fund value.

We deduct FMC and applicable taxes on a daily basis from the fund value before the calculation of the NAV (Net Asset Value).

Mortality Charge

The mortality charges are based on the age and sex of the life assured. The mortality charges are guaranteed for the entire duration of the policy.

Mortality charges for reduced paid-up policies are levied on the sum at risk, which is the paid-up sum assured, less partial withdrawal made during the two years preceding the death of the life assured, if any, less fund value subject to this becoming positive.

Sum at Risk

Sum assured or 105% of the total premiums paid any time, whichever is higher, less fund value, less partial withdrawal, if any, made during two years preceding the death of the life assured

We deduct this charge and applicable taxes on the first business day of each policy month by way of cancellation of units.

Premium Allocation Charge

Policy Year/Annual Premium	Annual Premium less than 2,00,000	Annual Premium 2,00,000 and above
1	9%	6%
2	6%	4%
3-5	3%	3%
6+	Nil	Nil

We deduct the shown percentage from your premium as Premium Allocation Charge and applicable taxes. This is deducted before we make any investments or before we apply any other charge

Policy Administration Charge

For the first 5 policy years – The charges are 1% of the first year’s premium per annum, subject to a maximum of INR 6,000 per annum.

6th year to the end of policy term – The charges are 2.55% of first year’s premium per annum, inflating by 5% every policy year, subject to a maximum of INR 6,000 per annum.

We deduct a monthly administration charge and applicable taxes on the first business day of each policy month by cancelling units in advance. We do this at the beginning of each monthly anniversary of the policy.

Partial Withdrawal Charge

There are no partial withdrawal charges applicable.

Revival Charge

There are no revival charges applicable.

Switching Charge

You are allowed to make unlimited switches in a calendar month. We currently do not levy a switching charge. However, we reserve the right to introduce charges, subject to prior approval from IRDAI.

We currently do not levy a switching charge. However, we reserve the right to introduce charges, subject to prior approval from IRDAI.

We will levy the following Discontinuance Charges:

Where policy is discontinued during the policy year	Discontinuance charge for policies having Annualized premium up to Rs. 50000	Discontinuance charge for policies having Annualized premium above Rs. 50000
1	Lower of 20%*(AP or FV) subject to a maximum of ₹ 3000	Lower of 6%*(AP or FV) subject to maximum of ₹ 6000
2	Lower of 15%*(AP or FV) subject to a maximum of ₹ 2000	Lower of 4%*(AP or FV) subject to maximum of ₹ 5000
3	Lower of 10%*(AP or FV) subject to a maximum of ₹1500	Lower of 3%*(AP or FV) subject to maximum of ₹ 4000
4	Lower of 5%*(AP or FV) subject to a maximum of ₹ 1000	Lower of 2%*(AP or FV) subject to maximum of ₹2000
5 and onwards	Nil	Nil

All applicable ULIP charges are subject to Goods and Services Tax (GST) as per Govt. GST law, and as amended from time to time.

** Tax exemptions are as per applicable tax laws from time to time.

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30,968 Crore

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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.

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Policy Year (specified period)	Policy Term
Policy Year (specified period)	20 years	25 years
	(Y)	(Y)
15	100%	100%
20	200%	200%
25	Nil	300%

1. Equity1	6. Flexi Cap Equity Fund
2. Debt1	7. Sustainable Equity Fund
3. Multi-Cap Equity Fund	8. Large Cap Equity Fund
4. Value	9. Equity Elite Opportunities
5. Macro Trends Fund	10. Liquid1

IndiaFirst Life TULIP Pro Plan

A Non-Participating, Unit-Linked, Individual Savings Life Insurance Plan

Key Features of the IndiaFirst Life TULIP Pro Plan

Dual Benefits - Protection + Investment

Inbuilt Term Rider Benefit

Diversified Fund Options

Return of Charges

Flexible Investment Strategies

Accidental Death and Disability Rider

Partial Withdrawals After 5 Years

Tax Benefits Under Section 80C & 10(10D)**

How to Buy the IndiaFirst Life TULIP Pro Plan?

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Eligibility Criteria for the IndiaFirst Life TULIP Pro Plan

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Investment Strategies for IndiaFirst Life TULIP Pro

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