India First Young India Plan

In case of death of the Life Insured, the nominee would get the Sum Assured amount. In addition to this a benefit amount equal to the sum of all future premium(s) is payable on death or disability due to accident to the life insured.

On the maturity of the policy, the Fund Value is paid to the policyholder. The policyholder has a choice to receive this amount in instalments over a specified period of time. During this period the fund management and policy administration charges will be applicable.

The Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C of Income Tax Act 1961

The policyholder also gets full tax benefits on the maturity amount and the withdrawal amounts under Section 10(10) D, of the Income Tax Act, 1961.

In the event of death of the policyholder or disability due to accident, the beneficiary gets an additional amount equal to the sum of all future premiums. This benefit can be chosen at policy inception itself, to be paid in one of the two ways as follows:

• Option I – Paid to the policyholder / nominee immediately on the disability/death of the policyholder. In case of death, the fund value is paid out and policy terminates.
• Option II - The Company pays all the future premiums immediately to the plan by creating units under funds as exist on that time. The fund value will be paid at the maturity date. Hence, this benefit ensures that the beneficiary receives the fund value as planned by the life assured, at the end of the plan term. The beneficiary however, does not have any right to exercise any fund related option except receiving the policy money as decided by the policyholder prior to his/her death.
• Portability Option - IndiaFirst life gives the customer the option to opt out of the current plan and invest into another unit linked policy of India First Life. This option is available for existing policyholders after completion of five policy years from the date of commencement of the policy. Under this option, the policyholder can transfer policy benefits (surrender, maturity etc.) without any charges, fully to another plan wherein portability option is available.

There are no riders available in this policy

Investment Fund Options

There are 5 Investment Funds available

• Equity 1 Fund
• Balanced 1 Fund
• Debt 1 Fund
• Index Tracker Fund
• Value Fund

Not Applicable

 The minimum amount that you can switch is Rs 5,000. 2 switches are free every month

Partial withdrawals are allowed only after the policyholder has paid all the premiums for the first five years. The minimum amount that you can withdraw is Rs 5,000 and the maximum is 25% of Fund Value such that the Fund Value after withdrawal does not fall below 110% of the annual premium.

The Premium redirection can be opted from the 2^nd policy year. Under premium redirection the policyholder can redirect his/her future investments towards a different fund or set of funds. However, under the premium redirection option the past allocation of premium under the policy does not change.