IndiaFirst Life Insurance Anytime Plan
IndiaFirst Anytime Life Insurance is a pure online term insurance plan which offers policy tenure up to 30 years. This term insurance plan provides with an assured death benefit whereby the sum assured will be payable to the nominee if the Life Insured dies during the policy tenure. Anytime Term plan does not add any riders but is one of the low premium term insurance plans
Key Features of IndiaFirst Anytime Plan
§ It is a pure Term Insurance Policy with Death Benefit only and no Maturity Benefit
§ It is a policy with no agent intervention and hence quite cheap as well.
§ Surrender value is available for Single Premium Plans only
§ Exclusively available on the internet for an online purchase
Benefits you get from IndiaFirst Anytime Plan
Death Benefit – In case of death of the life insured, the nominee gets the sum assured under the plan
Maturity Benefit – There are no maturity benefits under this plan.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C
Eligibility conditions and other restrictions in IndiaFirst Anytime Plan
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Minimum
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Maximum
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|
Sum Assured (in Rs.)
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10,00,000
|
49,00,000
|
|
Policy Term (in years)
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5
|
30
|
|
Premium Payment Term (in years)
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Single
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Equal to Policy Term
|
|
Entry Age of Policyholder
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18
|
60
|
|
Age at Maturity
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-
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70
|
|
Single premium (in Rs.)
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NA
|
NA
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|
Payment modes
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Single, Monthly, Half-Yearly, Yearly
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Sample illustration of premium amount in IndiaFirst Anytime Plan
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 30 lakhs and Policy Term = 25 years
Additional Features and Benefits of IndiaFirst Anytime Plan
Riders – No riders are available in this policy
You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the expiry of the grace period from the due date of the first unpaid premium. You can re-instate the policy within 2 years of lapsation by paying up all due premiums with interest.
You want to surrender the policy – Surrender Benefits are available only for Single Premium Plans.
Surrender Benefit = 40% X Single Premium (Unexpired Term/Total Policy Term)
You want a loan against your policy – Loan facility is not available under this policy.
Alternate term plans from different insurance companies
1. ICICI Prudential iProtect Term Plan
2. Aviva iLife Term Plan
3. AEGON Religare iTerm Insurance
4. Met Protect plan from MetLife
Other term insurance plans from IndiaFirst Life Insurance
1. IndiaFirst Life Plan
2. IndiaFirst Simple Life Plan
