India First Simple Life Plan
India First Simple Life Insurance Plan
IndiaFirst Simple Life insurance is a pure term plan with limited options of cover. The plan offers fixed sum assured options of Rs 5,000, Rs 10,000 and Rs 50,000 only. This is a single premium pure term plan for 5 or 10 years.
Key Features
Benefits
In case of death of the policy holder, the nominee gets the sum assured that has been chosen.
There are no maturity benefits under this plan.
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 are available in this policy
Eligibility
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
5,000 and 10,000 |
50,000 |
Policy Term (in years) |
5 |
10 |
Premium Payment Term (in years) |
Single |
Single |
Entry Age of Policyholder |
18 |
60 |
Age at Maturity |
- |
70 |
Single premium (in Rs.) |
5,000 |
No Limit |
Payment modes |
Only Single |
FAQs
There is no question of stopping to pay premium as this is a single premium policy where the entire premium is paid at inception.
Surrender benefit is available under this plan according to a pre-defined formula.
Surrender Benefit= 40% X Premiums Paid X (Unexpired Term/Total Term)
There is no loan facility under this plan.