IndiaFirst Annuity Plan
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
IndiaFirst Annuity Plan helps you with investing your proceeds towards a steady retirement income for as long as you live
Product Description
- It is a traditional non-participating Immediate Annuity plan
- It is a single Premium policy
- The policyholder gets to choose the retirement age
COMPARE & BUY SIMILAR PLANS
Unique Features
- "India First Annuity Plan"is a traditional immediate annuity plan which caters to your retirement needs.
- Monthly annuity is paid to the policyholder
Eligibility Criteria
| Eligibility Criteria | |||||
|---|---|---|---|---|---|
| Entry Age | Minimum | 40 Years | |||
| Maximum | 80 Years | ||||
| Max age of Maturity | 80 years | ||||
| Purchase Price (Indicative) | Rs 50,000 | No Limit | |||
| Annual Annuity (Indicative) for age 65 | Rs.2,583 | ||||
| Payment modes | Only Single | ||||
| Premium Paying Term | Single | ||||
| Notes - : This payment is called the purchase price which is paid through cheque, DD or ECS. | |||||
| Policy Term (in years) | Annuity starts immediately | ||||
OneInsure App Benefits
Product Benefit
| Benefit | Description | |||||
|---|---|---|---|---|---|---|
| Maturity Benefit | There are 3 options available to the policyholder -: | |||||
| He can choose to take 1/3rd of the Fund Value, which is tax free and purchase an annuity with the remaining 2/3rd either from IndiaFirst Life Insurance or from any other life insurance company according to open market option | ||||||
| He can purchase an annuity with 100% of the lump sum either from IndiaFirst Life Insurance or from any other life insurance company, OR | ||||||
| He can withdraw the entire Fund Value and be taxed on it according to tax laws | ||||||
| Death benefit | No death benefit that is paid under this plan | |||||
Add-ons
Not Available
Exclusions
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.
Claim Process
Know Claim Process of India First Annuity Plan
Company Overview
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
BENEFITS OF BUYING FROM ONEINSURE
OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.
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.
