IndiaFirst Life Plan is a pure term insurance plan that offers a high protection cover for low premiums. The policy offers death benefit whereby if the dependent of life insured gets the sum assured if the life insured dies within the policy tenure. There is no benefit if the life insured survives till the maturity of the policy.
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
5,00,000 |
20,00,00,000 |
Policy Term (in years) |
5 |
30 |
Premium Payment Term (in years) |
Single |
Equal to policy term |
Entry Age of Policyholder |
18 |
60 |
Age at Maturity |
- |
70 |
Single premium (in Rs.) |
5,000 |
No Limit |
Payment modes |
Single, Yearly, half-yearly, monthly |
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years
Riders – There are no riders available in this policy
You stop paying the premium - If the policy holder stops paying the premium, then the policy would lapse after the grace period ends. 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 – There are Surrender Benefits only in case of Single Premium under this term plan. Regular Premium policies do not have any surrender benefit.
In Single premium policies,
Surrender Benefit= 40% X Premiums Paid X (Unexpired Term/Total Term)
You want a loan against your policy – There is no loan facility under this plan.