IndiaFirst Cash Back Plan guarantees payouts at regular intervals to meet your specific needs and an assured maturity payout to secure your future.
Eligibility Criteria | |||||
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Entry Age of Policyholder | Plan Term | Minimum | Maximum | ||
9 Years | 15 Years | 45 Years | |||
12Years | 15 Years | 50 Years | |||
15Years | 15 Years | 55 Years | |||
Max age of Maturity | 70 years as on the last birthday | ||||
Sum Assured (Rs.) | 50,000 | No limit subject to Underwriting | |||
Payment modes | Monthly/ Quarterly/ Six monthly or Yearly | ||||
Premium Paying Term | Plan Term | Premium Payment Term | |||
9 Years | 5 years | ||||
12Years | 7 years | ||||
15Years | 10 years | ||||
Policy Term (in years) | 9 / 12 / 15 years | ||||
Invest | |||||
Premium Paying Mode | Minimum Premium | ||||
Monthly | Rs. 522 | ||||
Quarterly | Rs. 1,554 | ||||
Six monthly | Rs. 3,071 | ||||
Yearly | Rs. 6,000 | ||||
Premium Frequency | Factor To Be Applied To Yearly Premium | ||||
Monthly | 0.0870 | ||||
Quarterly | 0.259 | ||||
Six monthly | 0.5119 | ||||
Sum Assured on maturity | Limit | ||||
Minimum | Rs 50,000 | ||||
Maximum | No limit subject to Underwriting |
Feature | Description | |||||
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Guaranteed Additions | ||||||
Plan Term | Guaranteed Additions as % of Annualized Premium at every Plan year end |
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9 Years | 5% of Annualized Premium | |||||
12Years | 6% of Annualized Premium | |||||
15Years | 7% of Annualized Premium | |||||
Plan offers a high sum assured rebate | ||||||
Sum Assured | Discount in premium Sum Assured per thousand Sum Assured on maturity | |||||
50 thousand to less than Rs 1 lakh | Nil | |||||
Rs 1 lakh to less than Rs 2 lakhs | 6 | |||||
Rs 2 lakhs to less than Rs 5 lakhs | 9 | |||||
Rs 5 lakhs and above | 10 | |||||
The payout frequency and the amount is given below | ||||||
Payout Year / Plan Term | 9 Years | 12 Years | 15 Years | |||
3 | 20% of Sum Assured on maturity |
- | - | |||
4 | - | 20% of Sum Assured on maturity |
- | |||
5 | - | - | 20% of Sum Assured on maturity |
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6 | 20% of Sum Assured on maturity |
- | - | |||
8 | - | 20% of Sum Assured on maturity |
- | |||
9 | 60% of Sum Assured on maturity + Guaranteed Additions |
- | - | |||
10 | - | - | 20% of Sum Assured on maturity |
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12 | - | 60% of Sum Assured on maturity + Guaranteed Additions |
- | |||
15 | - | - | 60% of Sum Assured on maturity + Guaranteed Additions |
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Discontinue Premium | ||||||
Before Acquiring Paid-up Value | ||||||
Plan Term | Number of years premium needs to be paid to have paid up value |
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9/ 12 years | 2 years | |||||
15 years | 3 years | |||||
After Acquiring Paid-up Value | ||||||
Paid up value payable on maturity |
Paid up value payable on death |
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Sum Assured on Maturity X (No. of Premiums Paid / Total Number of Premiums Payable) + Guaranteed Additions – Survival Benefits paid, if any | Sum Assured on death X (No. of Premiums Paid / Total Number of Premiums Payable) + Guaranteed Additions |
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Notes:- Survival Benefit and Guaranteed Additions will not be payable once the Plan becomes paid up. | ||||||
Discontinuous | First three plan years | |||||
The plan does not acquire any value, if you stop paying your premium during the first three plan years. | ||||||
No benefits will be payable during this period. | ||||||
Fourth plan year onwards | ||||||
The proportional Sum Assured is equal to – (Sum Assured X No. of Premiums Paid)/ Total Number of Premiums Payable | ||||||
Revive | Simply paying the pending premium amount along with interest from the due date of first unpaid premium | |||||
Begin the payment of premiums | ||||||
Surrender Value | The amount payable on surrender will be higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). | |||||
Special Surrender Value = Proportionate Sum Assured on maturity plus guaranteed additions, till date of surrender X SSV factor at the time of surrender |
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The SSV factor will be determined by us from time to time |
Not Available
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
Tax benefits will be as per Section 80C & Section 10(10D) of the Income Tax Act, 1961
Know Claim Process of India First Cash Back Plan
Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country's youngest life insurance company promoted by two large public sector banks - Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal & General.The company launched operations nationwide in March, 2010
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.