IndiaFirst Annuity Plan

IndiaFirst Annuity Plan

India First Annuity Plan is a traditional Immediate Annuity plan, which can be purchased by paying a lump sum amount as a Single Premium. This is a non-participating plan which means it is not eligible for bonuses. In this plan, the policyholder gets to choose the retirement age, and he/she would receive a fixed annuity on a monthly basis for life from that selected age.

personal-accident-cover-overview icon
Death Benefit
tax-benefit-overview icon
Vesting Benefit
inflation-shield-overview icon
Monthly annuity
Compare this plan with other Investment Plans
By clicking “Show Returns”, I authorize MyInsuranceClub to Call/Message & agree to Terms of Use

Key Features

It is a traditional non-participating Immediate Annuity plan
It is a single Premium policy
Monthly annuity is paid to the policyholder


Death Benefit

This being an Immediate Annuity Plan, there is no death benefit that is paid under this plan.

Vesting 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.
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. The maturity amounts you receive from this plan are exempt from tax under section 10(10D)


No riders are available in this policy





Sum Assured (in Rs.)



Policy Term (in years)

Annuity starts immediately

Premium Payment Term (in years)


Entry Age of Policyholder



Age at Maturity



Single premium (in Rs.)

Not Specified


Payment modes

Only Single


angle down iconWhat happen if you stop paying the premium ?

This being a single premium policy, there is no question of stop paying premium.

angle down iconWhat happen if you want to surrender the policy ?

There are no surrender benefits under this term plan.

angle down iconWhat happen if you want a loan against your policy ?

Loan facility is not available under this policy.