IndiaFirst Life Plan is a pure term insurance plan that ensures, that your loved ones are taken care of, even in your absence
Eligibility Criteria | |||||
---|---|---|---|---|---|
Entry Age | Minimum | 18 Years | |||
Maximum | 60 Years | ||||
Max age of Maturity | 70 years | ||||
Minimum Premium (Rs.) | |||||
Monthly | Six-monthly | Yearly | |||
Regular premium (Rs.) | 500 | 1,000 | 2,000 | ||
Single premium (Rs.) | 5,000 | ||||
Sum Assured (Rs.) | 5,00,000 | 20,00,00,000 | |||
Notes :- *The life cover should be in multiples of Rs. 1,00,000 | |||||
Payment modes | Regular premium | Monthly (through ECS or Direct Debit), six monthly, yearly | |||
Single premium | One time payment only | ||||
Premium Paying Term | Regular | Equal to Policy Tenure | |||
Single | One Time | ||||
Policy Term (in years) | 5 Years | 30 years | |||
Premium Frequency | Factor To Be Applied To the Annual Premium | ||||
Monthly | 0.087 | ||||
Six monthly | 0.5119 |
Feature | Description | |||||
---|---|---|---|---|---|---|
Revive | Within two years from the due date of the first unpaid premium but before the maturity date | |||||
The revival is subject to satisfactory medical and financial requirements raised by the company. | ||||||
Loan | No. We will not be able to give any loans under your plan | |||||
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 | Regular premium | No surrender value payable | ||||
Single premium | Surrender value is payable only if you surrender the plan any time after the third plan year and before the end of the plan term | |||||
40% x Premium paid x ( unexpired Term*/ Total Term) | ||||||
Notes :- Unexpired term will be calculated as on the date of lapse or, in case the cover is continuing, the date of surrender. |
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 Life 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.