IndiaFirst Life Plan
Life Plan from India First Life Insurance
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.
Key Features
Benefits
In case of death of the policy holder, the nominee gets the entire sum assured in a lump sum under the plan
There are no maturity or survival benefits under this plan. This means that if the policy holder does not die during the policy period, then he/she will not be returned any money on the policy maturity date.
Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C
There are no riders available in this policy
Eligibility
|
|
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 |
|
FAQs
What happen if 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.
What happen if 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,
What are the Surrender Benefit ?40% X Premiums Paid X (Unexpired Term/Total Term)
What happen if you want a loan against your policy?There is no loan facility under this plan.
