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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.

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Death Benefit
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Maturity Benefit
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Income Tax Benefit
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Key Features

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Single premium policy
Low sum assured of Rs 5,000, Rs 10,000 and Rs 50,000 only
Pure Term Insurance Policy with Death Benefit only
Cover is available for a period of 5 or 10 years

Benefits

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Death Benefit

In case of death of the policy holder, the nominee gets the sum assured that has been chosen.

Maturity Benefit

There are no maturity benefits under this plan.

Income Tax Benefit

 Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C

Riders

There are no riders are available in this policy

Eligibility

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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

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angle down iconWhat happen if you stop paying the premium ?

There is no question of stopping to pay premium as this is a single premium policy where the entire premium is paid at inception.

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

Surrender benefit is available under this plan according to a pre-defined formula.

Surrender Benefit= 40% X Premiums Paid X (Unexpired Term/Total Term)

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

There is no loan facility under this plan.