Money Back Health Insurance Plan

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IndiaFirst Money Back Health Insurance Plan

 

IndiaFirst Money Back Health Insurance Plan is a comprehensive unit-linked health insurance plan. It covers self, spouse, children as well as parents and has a unique combination of a health insurance plan along with the benefits of a unit-linked plan. Hence it provides the best of both worlds. Basic health insurance policy features like hospitalisation benefits, day care procedure coverage, doctor’s fees, medicines, tests, etc are paid for along with option to choose from 6 investment funds available and tax benefits, as well.


 

Key Features of IndiaFirst Money Back Health Insurance Plan

  • This is a unit-linked health insurance policy for self, spouse, children and parents. It provides valuable financial protection in case of hospitalisation, surgery and many more.
  • Increasing Health cover every year as a No Claim Benefit
  • Cover can be extended to new members of the family in case of marriage / re-marriage and childbirth or legal adoption.
  • Protection of investments from market fluctuations is allowed in the last 3 years of the policy term by transferring your money to a ‘Liquid1’ fund.

     

Benefits you get from IndiaFirst Money Back Health Insurance Plan

 

Death Benefit – In case of death of the primary life insured, the Fund Value is paid to the nominee and the policy is terminated for everyone else as well. However, if other members die, then only that member is removed from coverage and the plan continues.

 

Maturity Benefit – The Fund Value is paid to the primary life insured at the end of the Plan Term.

 

Income Tax Benefit The premium paid is tax free under section 80D for health care charge and under 80C for the premium paid towards market linked fund. Maturity value is also tax free under section 10(10) D provided the premium in any year during the plan term does not exceed 20% of the sum assured

 

 

What is covered in IndiaFirst Money Back Health Insurance Plan?

 

  • Hospital room accommodation – Hospital and Nursing Home Room Rent is provided by this policy but only upto 1% of the Sum Insured subject to a maximum of Rs 5000 per day
  • There is even a limit on the Intensive Care Unit room rent reimbursement of only 2% of Sum Insured, upto a maximum of Rs 10,000 per day
  • Fees for doctor, surgeon, anesthetist, medical practitioner, consultant and specialist
  • Nursing expenses
  • Cost of medicines and drugs, OT charges, blood, oxygen, any investigation done, pathology, radiology, and other diagnostic tests, etc are paid for.
  • 195 Listed Day Care Procedures are also covered.
  • Cancer treatment including chemotherapy and radiotherapy
  • Pre and Post Hospitalisation of 30 days and 60 days are covered.

 

 

Eligibility conditions and other restrictions in IndiaFirst Money Back Health Insurance Plan

 

 

Minimum

Maximum

Sum Assured for Individual (in Rs.)

1,50,000

5,00,000

Sum Assured for Floater (in Rs.)

1,50,000

10,00,000

Premium Paying Term (in years)

Single

Equal to PT

Policy Term

5 years for Single Pay Only

10 years for Regular Pay

Entry Age of Primary Life Insured

18 years

60 years

Entry Age of Children

90 days

24 years

Entry Age of Spouse and Parents

18 years

65 years

Age at Maturity for Self/Spouse/Parents

-

75 years

Age at Maturity for Children

-

25 years

Payment modes

Single and Yearly

 

 

Sample illustration of premium amount in IndiaFirst Money Back Health Insurance Plan

 

The below illustration is for an individual opting for:

Sum Assured = Rs 1,50,000

Policy Term = 10 years

Premium = Regular, Annual

Age = 30 years and 40 years

Investment Fund = 100% in Equity 1

Policy Type= Single Cover of Primary Life Insured Only

 

IndiaFirst Money Back Health Insurance Plan - Sample Illustration of Returns 

  

Additional Features and Benefits of IndiaFirst Money Back Health Insurance Plan

 

Riders – There are no riders available in this plan.

 

There are 6 Investment Funds options to choose from: 

1.     Equity 1 Fund

2.     Balanced 1 Fund

3.     Debt 1 Fund

4.     Index Tracker Fund

5.     Value Fund

6.     Liquid 1 Fund

 

Top-up - Not allowed in this plan

 

Switching - Minimum Switch amount is Rs. 5,000. Two Switches are allowed free of charge in a Policy Month, i.e. 24 switches per year to a maximum amount of the Fund Value.

 

Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount of partial withdrawal should be Rs. 5,000 and the Maximum Partial Withdrawal allowed is upto 25% of Fund Value as on withdrawal request date such that at least minimum balance equal to 110% of your annual premium after the withdrawal.

 

 

What happens if?

 

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

 

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.

 

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

 

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

 

You want a loan against your policy - There is loan available under this plan after completion of 5 policy years.

 

 

Alternate health plans from other Life Insurance Companies

 

AEGON Religare Health Plan

LIC Jeevan Arogya Plan

Aviva Health Plus

ICICI Prudential Health Saver

 

 

Other health insurance plans from IndiaFirst Life Insurance Company

 

This is the only health insurance plan from IndiaFirst Life Insurance Company

~ By Deepak Yohannan
Note: This is a statement of facts based on the information collected from the Money Back Health Insurance Plan brochure and insurance company's website. It should not be construed as a Critical or Favourable Money Back Health Insurance Plan Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.


Leave a Comment

I am policy holder no.is 10390362. I wish to have hospitals list in GUWAHATI, ASSAM

By Naba Deka on Jun 14, 2014 Reply

For this you will need to contact your respective insurance company - IndiaFirst Life

https://www.indiafirstlife.com/IFLBranchLocator/branchLocator.jsf

 

Replied By Manoj Aswani (MIC Staff) on Jun 14, 2014 Reply

I am policy holder no.is 10210653. I wish to have hospitals list in Guntur, AP pl. mail to my e-mail ID: nunna_trim@yahoo.co.in
Nunna Trimurtulu

By Trimurtulu Nunna on Sep 14, 2013 Reply

Dear Nunna Trimurtulu, unfortunately we do not have the list of network hospitals of LIC with us. Pls find a TPA which has such a facility. We are not sure how authentic this is though.

http://www.emeditek.com/licgateway/nspdetails.aspx

LIC does not seem to provide this information on their website unlike other companies. You will have to visit their branch office to get the details.

Replied By Admin (MIC Staff) on Sep 16, 2013 Reply

I am having icici pru health saver policy No.13122757,which was purchased on 08th january,2010 and annual limit of Rs 1,000,000.00 am paying premium amount of Rs 35,000=00 every year.

I would like to go for whole body health checkup which company shall provide for a free medical check-up to all insured persons once in two policy years, please guide me how can I proceed. T/y

By Ravinderreddy,Billa on Feb 25, 2013 Reply

I am the polyce holder my helth card no.5545 9400 0003 8735 so I want Hospital list in mumbai and subarben aria please send it

By Ganesh R.Jadhav on Jul 14, 2012 Reply

I want to get this policy please give contact no of ahmedabad any agent

Vishal
Gujarat
Mo:9067075530

By Vishal Patel on May 27, 2012 Reply

Good to know what are the benefits,
Also Interested to know what is not covered in this plan like critical illness. etc?

By Prabhakaramv on Jan 24, 2012 Reply

plz send the detail............

By Dr Pranav Kumar on Jan 22, 2012 Reply

I am intrested the India first health policy please other information

By Srinivasreddy on Jan 19, 2012 Reply

Dear Sir I want to know more information on this health insurance policy. Kindly mail me orcall me 9448378959

k.n.shesha
bangalore

By K.N.Shesha on Jan 09, 2012 Reply

I am interested in the Health policy Please let me know of the details or call me on 9986317553

By John Edward on Jan 02, 2012 Reply

i want know details

By Venkatesh on Dec 22, 2011 Reply

Sir

I want to take your health insurance. Can you ask your local agent in Hyderabad to contact me on my mobile 8978566559 or 9573179799

regards
P.Padmanabham Dy Gen Manager
3f oilpalm agrotech private limited
6-3-569/2 , 1st floor, rockdale , somajiguda HYDERABAD

By P.Padmanabham on Nov 23, 2011 Reply

Sir, Kindly let me know about the exclusions , pre-existing health problems and portability.
shyla

By Shyla Yoganand on Nov 04, 2011 Reply

interested in this policy..please let me know more,as wish to take for myself,my son n my husband..

By Rinky on Oct 31, 2011 Reply

want to know more

By Amit on Oct 29, 2011 Reply

Please send me the detail of your policy,i seem like buying your policy My mob.no is 919811770017
thanks

By Ramesh C.Soni on Oct 22, 2011 Reply

I Want your helth policy ,so ,please send your extiuve or agent oerson.my no.9003123387

By Subramanian K on Oct 15, 2011 Reply

I am interested in your health insurance policy of which I was guided by Bank of Baroda in Baroda. Please give me the details of your policy or give me the name of agents in baroda& their telephone Nos. The number given by BOB branch is not available.

By Promila Diwan on Oct 15, 2011 Reply

Hi I am interested in your insurenc plan, please let me know the contact details of your
Mumbai Office.

by Stany Rodrigues on 12 October-2011

By Stany Rodrigues on Oct 13, 2011 Reply

all the informatation are to reed .and i like your plan .so please let me know the some of more info thanks

By Dhruv on Sep 18, 2011 Reply

ple give a detail of per year amount a policy health , 5year plan

By Rk on Sep 04, 2011 Reply

Hi I am interested in this policy could you pls let me know the policy details for myself & my mother.. My age is 27yrs old & My mother is 52 yrs

My tc no is 919590186699:)
Regards

Harish

By Hari Prasad on Sep 04, 2011 Reply

Hi, my age 52 years,how much premium annually and returns after maturity for single and jointly.
This is a govt insurance co or private.Pl send me complete details.

By Narinder Lal Malhotra on Sep 03, 2011 Reply

hi i am intrested in your plan. i am agovt. employee. if it is a monthly salary recoverable or not pl send details. cell no 9849907174 tadepalligudem, west godavari district, andhra pradesh

By Mogantijayaram on Aug 30, 2011 Reply

Dear Sir ,
This policy is the First arrival in the market of Health Insurance. It will get a lot of sucess . First Come First Get the market .
Congratulations.
With Thanks

By Pramod Kumar on Aug 29, 2011 Reply

I am intrest in this policy pl. give the detail about income tax rebate under section 80d.

By Sri Sadan Lal Gupta on Aug 29, 2011 Reply

Please send policy details, my age age is 48 years.

By V V Satya on Aug 29, 2011 Reply

pl. send me the details of this policy my age 43 year's.

tks

By Umesh Sharma on Aug 27, 2011 Reply

I am interested in policy contact me for details or call 9367909825

By Ajay Kagade on Aug 27, 2011 Reply

i am interested please give your kerala office details

By Harikumar on Aug 27, 2011 Reply

lots of query r not answered

By Anuj Kpoor on Aug 27, 2011 Reply

ALL LIFE/HEALTH INSURANCE COMPANIES ARE ONE N THE SAME,
WHEN U R SUFFERING FROM ILL, AND GETTING ADMITTED IN THE HOSPITAL, YOU WILL REALISE THE DIFFICULTIES AND THE PROBLEM WILL ARISE.

INSURANCE COMPANIES WILL COME AND TELL REAL/GENIUN RULES.

BETTER INDEPENDANT....

By Mukund on Aug 27, 2011 Reply

I am interested in this policy, please send me details on my email.

By Vikramjichhajed on Aug 26, 2011 Reply

please send me the total details of this plan, i am willing to do this.... my No. is 09937612360

By Gurmak Singh on Aug 26, 2011 Reply

I want detail about the policy.my m.no. -9470357563

By Mukesh Kumar Singh on Aug 26, 2011 Reply

Pl. send the all detais of plan. I am verymuch interested for this money back plan if it is from LIC.

By Kunjeshkumar Yagnik on Aug 26, 2011 Reply

I am interested in this policy, please send me details on my email.

By Rajesh Kumar Sinha on Aug 26, 2011 Reply

send the best policy for health.i have another health policy can i avail the same benefit with this policy

By Pnsahu on Aug 25, 2011 Reply

name of the insurance company
eligibilty for pre exisisting deseases
eligibilty of claims from which year
other hidden terms

By Lokesh Rustgi on Aug 25, 2011 Reply

Like to know in detail
which insurance company
money back details
kerala address

By Anil on Aug 25, 2011 Reply

25-8-2011
Sir,I and My wife are both Govt Retired person and wish to take Medical Bill payment and Health Insurance for coverage of both for the amount Rs3Lakh each
2) Please see KRISHAN LAL : AGE 68 YEAR
SAROJ KUMAR I AGE 62 YEARS

TOTAL YEARLY REMIMUM TO BE CALCULATED
(II)HOW THE MEDICAL BILL PAYMENT FOR THE PATIENT PRECRIBED BY PGI DOCTOR IS MADE . DETAILS HOW THE BILL IS TO BE DEPOSITED TO WHOM AND ADDRESS OF THE COMPANYWITH TELEPHONICS DETAILS
(III) IN CASE OF HOSPITALIZATION ,HOW IS THE PAYMENT MADE

DETAILS FOR ABOVE REQUESTED
THANKS FOR EARLY REPLY
krishan lal

By Krishanlal 7 Saroj Kumari on Aug 25, 2011 Reply

H.R
JOBS AND ADBIJER / UNIT MARKITINH
INDIAFAST LIFE INSURANCES

By Ajay Kumar Srivastava on Aug 25, 2011 Reply

R/Sir,
Please indicate the Tax Benifit under which clause. Whether under Health Insurance Plan where Tax benifit for/up to Rs. 15000/- on yearly basis is allowed ?

By P.M.Verma on Aug 25, 2011 Reply

I am interested in this policy. Kindly let us know mode of its purchase and subsequent procedures. Also indicate the total illness / critical illness rider etc. if any, and names and place of hospitals where treatment can be had.

By Dr. Satish Kumar on Aug 25, 2011 Reply

Hi! I am interested in your plan. Please let me know the contact details of your Pune office.

By Geeta Chelani on Aug 25, 2011 Reply

i like the policy money back health insurance. Before IndiaFirst Money Back Health Insurance Plan no one can give us this kind of policy

By Bhim on Aug 25, 2011 Reply

Sir
I am intrested the India first health policy

By Anoop Seth on Aug 25, 2011 Reply

Good to know what are the benefits, fine..
Also Interested to know what is not covered in this plan like critical illness. etc?

By Jig on Aug 25, 2011 Reply

Please let me know in details about Health insurance policy. As on today what premium we paid against health insurance or mediclaim cash less facility are not refundable.

So let me know which policy or company provides money back health insurance policy.

regards/nain b chand

By Nain B Chand on Aug 25, 2011 Reply

which insurance co is this

By Mahipal Singh on Aug 25, 2011 Reply

1.The data is not clear about the costs involved particularly with reference to the fund management part. 2. 10 years is too short a period for a health policy 3. Maximum age is taken at 75 and when someone takes a policy at 40, does it mean that he keeps renewing every 10 years? If so, what are the medical exam requirements?

4. Parents entry age of 60 is a deterring factor. Medical exam requirements are not seen.
5. What is the advantageof clubbing ULIP with health? 6. If one is not satisfied with the fund management and returns on the ULIP part, you will be forced to move out of health policy also. To take an alternate policy, you have to go through medical check etc which may prove tricky.

I am not convinced with the idea of clubbing both ULIP and Health.

By Panirajs on Aug 25, 2011 Reply

how does this scheme compare with that of jeevan arogya of LIC. points to be compared
a) annual premium at the maximum of ins value,
b) non covered ares
c) rules on pre existing deseases
d) post hospilisation daycare /nursing care coverage
e) in the event of need for constant attendent will the cost be covered
f) is there a possibility of increasing the age of entry of the primary life

By Kvchandrasekaran on Aug 25, 2011 Reply

which insurance co is this

By Rajasekaran on Aug 24, 2011 Reply

Health insurance policy by IndiaFirst Life? LIC also has a new health insurance plan jeevan arogya so what is the difference in these 2 plans.

By Satinder B on Aug 23, 2011 Reply

Hi! I am interested in your plan. Please let me know the contact details of your Delhi office.

By Mahender Singh Negi on Aug 15, 2011 Reply

i intested in ur policy

By Devender Gehlot on Aug 14, 2011 Reply

buy online

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