IndiaFirst Anytime Plan

  • 18,576 Views

 

IndiaFirst Anytime Plan

 

IndiaFirst Anytime Plan is an online pure Term Plan. It is a Traditional Plan without Bonus facility which provides protection in case of premature death of the insured.

 

How it works – In this plan, premium can be paid regularly or one time in the form of Single Premium. The plan can be taken for up to 40 years during which the plan will cover the insured against death during the term. No benefit is payable upon Maturity but on death of the life assured during the term of the policy, the Sum Assured is paid as the death benefit to the nominee

 

 

Key Features of IndiaFirst Anytime Plan

 

  • It is an online Pure Term Plan at affordable rates.
  • The policy can be taken for a maximum of 40 years and upto Rs 50 crores
  • Flexible premium payment options under Regular pay and Single Pay
  • Surrender Value is applicable in case of Single Premium Policies only
  • This plan is for exclusive online sale only

 

 

Benefits you get from IndiaFirst Anytime Plan

 

Death Benefit – In case of death of the Life Insured within the Policy Tenure, the nominee gets the Sum Assured

 

Maturity Benefit–Being a pure Term Plan, there is no Maturity Benefit under the plan

 

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.

 

 

Eligibility conditions and other restrictions in IndiaFirst Anytime Plan

 

 

Minimum

Maximum

Sum Assured (in Rs.)

10,00,000

50,00,00,000

Policy Term (in years)

5

40

Premium Payment Term (in years)

Regular – Equal to Policy Term

Single – One Time

Entry Age of Life Insured (in years)

18

60

Age at Maturity(in years)

-

70

Premium(in Rs.)

Regular – 2000

Single – 10,000

No Limit

Payment modes

Yearly, half-yearly, monthly and Single

 

 

Sample illustration of IndiaFirst Anytime Plan

 

The below illustration is for a non-smoker male at various ages:

Sum Assured = 1 crore

Term = 30 years
 

 

 

Additional Features and Benefits of IndiaFirst Anytime Plan

 

Riders – There are no additional riders in this plan

 

 

What happens if?

 

You stop paying the premium - If the policy holder stops paying the premium, the policy lapses and all benefits cease to exist. The policyholder can revive the plan within 2 years from the date of lapsation after which no benefits will accrue under the plan.

 

You want to surrender the policy–There is no Surrender Value in case of Regular Premium paying option. However, in case of Single Premium, the policy acquires a Surrender Value after 3 complete policy years.
The Surrender Value is calculated as: 40% * Premium Paid * (Unexpired Term/Total Term)

 

You want a loan against your policy–Loan facility is not available under the plan

 

 

Other Term Insurance Plans from IndiaFirst Life Insurance

 

IndiaFirst Life Plan

 

 

Some Term Insurance Plans from other insurance companies

 

SBI Life eShield Plan

Reliance eTerm Plan

Tata AIA MahaRaksha Supreme Plan

 

Leave a Comment

Company Information

Connect with Us

Important: Insurance is the subject matter of solicitation

© 2009-14 MyInsuranceClub.com