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  • Indiafirst Life Traditional Plans

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    IndiaFirst Life Insurance was started in the year 2010 and is one of the youngest insurance agencies in the country. A product of a joint venture between Andhra Bank, Legal & General Group, and Bank of Baroda, the company has easily distinguished itself through its popular products like the traditional plans which offer customers life coverage as well as the opportunity for wealth creation.

    In addition to these attractive benefits offered by IndiaFirst Life Traditional Plans, the company also offers plans which have a good investment return and at a low risk. A policyholder will able be eligible for tax exemptions through any premiums made towards this plan. The various traditional plans that are offered by IndiaFirst Life Insurance are listed below:

    1. IndiaFirst Secure Save Plan
    2. IndiaFirst Maha Jeevan Plan
    3. India CSC ShubhLabh Plan
    4. IndiaFirst Simple Benefit Plan
    5. IndiaFirst Cash Back Plan

    Benefits of IndiaFirst Life Traditional Plans are:

    • These type of plans are issued for a longer periods and capital can be withdrawn from the plan at any time.
    • These plans are offered as either non-participating or participating plans. Participating plans are eligible to participate in the insurance company's profits and can also earn bonuses which are not available with non-participating plans.
    • These plans are either issued as Money Back Plans or Endowment Plans.
    • These plans will become paid-up plans if a policyholder stops paying premiums after making the premiums payments for a minimum term of 3 policy years.

    List of IndiaFirst Life Traditional Plans

    IndiaFirst Secure Save Plan

    IndiaFirst Secure Save Plan is a savings plan that offers an assured amount along with returns as a form as bonus guaranteed by the company or the client. Secure your dreams with an insurance plan that offers you an assured amount plus additional returns in the form of bonus declared by the company, all tax free. The family is ensured of the sum assured plus all bonuses paid till date in case of the life assureds’ untimely demise, ensuring the financial security of his/ her loved ones.

    Benefits and Features of IndiaFirst Secure Save Plan

    IndiaFirst Life Traditional Plans come with a number of advantages features and these are given below:

    • Maturity benefit is a large payout which includes Sum assured, simple reversionary bonus, and terminal bonus if applicable
    • Minimum Sum assured with a IndiaFirst Secure Save Plan is Rs.1 lakh
    • The Gross Surrender Value (GSV) is 30% of the total premium paid after deducting the first premium paid and any extra premiums that a policyholder holder has to pay towards a rider for the plan
    Entry Age Policy Term Sum Assured Maturity Age Premium
    • Minimum Age of Entry: 5 years
    • Maximum Age of Entry: 65 years
    Regular Premium: 10 to 30 years
    • Minimum: Rs.1 lakh
    • Maximum: Rs.20 lakhs
    70 Years
    • Minimum Premium: Rs.12,000 (Yearly
    • Maximum Premium: No limit

    IndiaFirst Maha Jeevan Plan

    A traditional Endowment Assurance Plan which creates savings and also provides life insurance protection. The plan  offers an assured amount along with returns as a form as bonus guaranteed by the company or the client.

    Benefits and Features of IndiaFirst Maha Jeevan Plan

    • The plan participates in the profits of the company by way of earning bonuses
    • Premiums under the plan are payable for the entire tenure of the plan
    • On maturity, the Guaranteed Sum Assured at the time of maturity is paid along with the simple reversionary bonuses and any terminal bonus
    • In case of the death of the life insured during the tenure of this plan, the death benefit will be payable which will be higher of the Guaranteed Sum Assured on maturity of 10/7 times the annual premiums that are paid until the time of death along with any reversionary bonus and terminal bonus that's payable
    • IndiaFirst Term Rider is available with a more comprehensive coverage
    • Loans to the tune of 90% of the Surrender Value is available
    • Income tax benefits on the premiums paid as per Section 80C and on any claims that are made under Section 10(10D) of the Income Tax Act
    Entry Age Policy Term Sum Assured Maturity Age Premium
    Min: 5 years Max: 55 years Min: 15 years Max: 25 years Min: Rs.50,000 Max:Rs.20 crores Min: 20 years Max: 70 years Min: Rs.6,000 Max: No limit

    India CSC ShubhLabh Plan

    A traditional variable insurance plan which promises good returns and life insurance protection.

    Benefits and features of a India CSC ShubhLabh Plan

    • Premiums that come under the plan are payable for the entire tenure of the plan
    • The plan can be bought through Common Service Centers by providing name and Aadhaar number
    • The premiums paid are invested in an account where they can grow
    • In the first 5 years, a guaranteed interest is added to the account @4% and the rate reduces to 0.5% from the 6th year onwards
    • Partial withdrawals can be done after a 5 policy years with a minimum value of Rs.1,000
    • Income tax benefits on the premium paid as per Section 80C and on the claims that come under Section 10(10D) of the Income Tax Act
    Entry Age Policy Term Sum Assured Maturity Age Premium
    Min: 5 years Max: 55 years Min: 15 years Max: 25 years Min: Rs.50,000 Max:Rs.20 crores Min: 20 years Max: 70 years Min: Rs.6,000 Max: No limit

    IndiaFirst Simple Benefit Plan

    This traditional Endowment Assurance plan for savings and protection purposes.

    Benefits and features of IndiaFirst Simple Benefit Plan

    • This plan participates in the profits of the company by way of earning bonuses
    • Premiums that come under this plan are payable for the entire tenure of the plan
    • On maturity, the Sum Assured is paid along with the simple reversionary bonuses and any terminal bonus
    • Loans are available up to a maximum of 90% of the total Surrender Value
    • On maturity, the Sum Assured is paid along with the simple reversionary bonuses and any terminal bonus that needs to be paid
    • Income tax benefits on the premium paid as per Section 80C and on the claims that come under Section 10(10D) of the Income Tax Act
    Entry Age Policy Term Sum Assured Maturity Age Premium        
    Min: 18 years Max: 55 years Min: 15 years Max: 25 years Min: Rs.20,000 Max:Rs.5 lakhs Min: 20 years Max: 70 years Min: Rs.6,000 Max: No limit        

    IndiaFirst Cash Back Plan

    This plan offers a lump sum of money as a payout at specific intervals along with providing life insurance coverage.

    Benefits and features of IndiaFirst Cash Back Plan

    • Premiums that come under the plan are payable for a limited tenure only under the Limited Pay Option of the premium payment
    • Guaranteed Additions accrue under the plan the rate of which depends on the tenure of the plan. The additions are calculated as percentage of the annual premium that is paid and is 5%, 6%, and 7% for a period of 9, 12, and 15 years
    • In case of death of the life insured, the death benefit shall be payable to the nominee or beneficiary of the plan. A Sum Assured which is the higher amount of 10 times the annual premium paid or 105% of all the premiums that have been paid till date along with the accrued guaranteed additions till death.
    • Money back benefits accrue @20% of the Sum Assured and are paid twice during the tenure depending on the term chosen
    • On maturity, the remaining 60% of the Sum Assured is paid along with the accrued Guaranteed Additions
    • Discounts are allowed in the premiums that you will have to pay towards the plan
    • Income tax benefits on the premium paid as per Section 80C and on the claims that come under Section 10(10D) of the Income Tax Act
    Entry Age Policy Term Sum Assured Maturity Age Premium    
    Min: 18 years Max: 55 years Min: 15 years Max: 25 years Min: Rs.20,000 Max:Rs.5 lakhs Min: 20 years Max: 70 years Min: Rs.6,000 Max: No limit    

    Why do you need IndiaFirst Life Traditional Plans?

    IndiaFirst Life draws on its team’s experience in wealth management and banking to provide some of the best products which addresses a number of concerns such as savings, retirement, health and protection. All products are economic to procure and also hassle-free. IndiaFirst Life boasts of a high claim-settlement ratio as well as robust customer care service.

    IndiaFirst Life Insurance Company follows the principle of ‘customer first’ in all of its activities and is also technology driven so that customers can avail all their policies easily without the need to go to a branch to procure a plan. This company has also won a number of awards and recognitions such as ‘Best Customer Centric Employee Engagement Award’ in 2017, ‘Marketing Capability Award’ in 2016  and ‘Best PR Case Study’ in 2016.

    This insurance company/organisation is not a partner of Bankbazaarinsurance.com. The content provided here is for informational purposes only. Readers should visit the branch office/website of the insurer for more details. The logos, trademarks, and other intellectual property on display belong to their respective owners.