IndiaFirst Maha Jeevan Plan – a plan that will ensure that your family is not deprived of wealth and prosperity even in your absence. Simply save towards your family's future and the rest will be taken care by us.
Eligibility Criteria | |||||
---|---|---|---|---|---|
Entry Age of Policyholder | Minimum | 5 Years | |||
Maximum | 65 Years | ||||
Age at end of the plan term | Minimum | 18 years as on the last birthday | |||
Max age of Maturity | 75 years | ||||
Sum Assured (Rs.) | 50,000 | 20,00,00,000 | |||
Payment modes | Annual, Semi Annual and Monthly | ||||
Premium Paying Term | Equal to Policy Tenure | ||||
Policy Term (in years) | 10 years | 25 years | |||
Invest | |||||
Premium Paying Mode | Minimum Premium | ||||
Monthly | Rs. 522 | ||||
Six monthly | Rs. 3,071 | ||||
Yearly | Rs. 6,000 | ||||
Plan Options | Life Cover Amount | ||||
Classic | Sum Assured | ||||
Silver | Sum Assured X 2 | ||||
Gold | Sum Assured X 3 |
Feature | Description | |||||
---|---|---|---|---|---|---|
Bonus | ||||||
Simple Reversionary Bonus | A simple reversionary bonus, if any, is a percentage of the sum assured declared by us at the end of each financial year. | |||||
The rate of bonus or percentage of the sum assured is not fixed and may change from time to time. | ||||||
Terminal Bonus | A terminal bonus may be announced by us at the end of the financial year | |||||
This bonus amount will be credited into the plan at the end of the plan term | ||||||
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 | This policy can be revived within the 2 years Revival period. | |||||
Loan | The amount of the loan that you may avail at any point of time will depend on the surrender value | |||||
Avail of a loan amount up to 90 percent of the available surrender value | ||||||
Notes :- The minimum loan amount should be Rs. 1,000. As and when the outstanding loan principal along with interest exceeds the surrender value |
||||||
Surrender Value | The amount payable on surrender will be higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV). | |||||
Guaranteed Surrender Value = 30% of total premium paid - 1st year premium (extra Rider Premium , if any) |
||||||
Special Surrender Value = Paid up value x Special Surrender value factor at the time of surrender | ||||||
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 IndiaFirst Maha Jeevan 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.