Indiafirst Life Wealth Maximizer Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

IndiaFirst Life Wealth Maximizer Plan is a life insurance cum investment plan offered by IndiaFirst Life Insurance Company Limited. This is a unit linked, non-participating savings plan. Under this plan, you can get the following benefits:

• You can choose between 7 different market linked fund options to invest your money in.
• Choose from 3 different investment strategies (Automatic Trigger Based Investment Strategy, Fund Transfer Strategy, and Age Based Investment Strategy) to meet your investment needs.
• Tax benefits on premiums paid under Section 80C of the Income Tax Act, 1961.
• Flexible premium payment frequencies and policy term.
• You get unlimited free switches and the option to redirect your premium to get the maximum benefit.
• Death benefit is payable to the nominee or beneficiary in the unfortunate event of the demise of the life insured.
• Invest with the company for a long time and beat inflation with loyalty benefits, exclusive add-on benefits, and profit booster.

Eligibility - Who is the IndiaFirst Life Wealth Maximizer Plan for?

Listed below are the eligibility factors you must meet to purchase IndiaFirst Life Wealth Maximizer Plan:

Sum Assured and Premium Range - What you get and what it costs?

The Policy Term and Sum Assured for IndiaFirst Life Wealth Maximizer Plan are as follows:

Plan coverage - What the IndiaFirst Life Wealth Maximizer Plan covers?

Under the IndiaFirst Life Wealth Maximizer Plan, you can get following benefits:

• Maturity Benefit: Fund Value plus Top-up Fund Value will be payable as maturity benefit to the policyholder at the end of the policy term.
• Loyalty Benefit: Stay invested with the company for the full policy term and receive loyalty benefit at the end of the 6th policy year. For Single Premium policy, loyalty benefit will be 0.25% of average daily fund value during the policy year starting from end of 6th policy year onwards. For Regular Premium and Limited Premium policies, loyalty benefit will be added at the end of every policy year as follows:

  Premium Band	Rs.2.5 lakhs to Rs.4,99,999	Rs.5 lakhs to Rs.9,99,999	Rs.10 lakhs and above
  End of Policy Year 6 to 10	0.35%	0.35%	0.35%
  End of Policy Year 6 to 11 and onwards	0.50%	0.75%	0.80%

• Profit Booster: It is applicable every 5th year starting from the end of the 10th policy year as a percentage of the average of daily fund value including top-up fund value, if any.
• Loyalty Advantage: You will get this benefit at the end of every policy year starting from the end of the 6th policy year as a percentage of the average of daily fund value including top-up value, if any. For Regular Premium and Limited Premium policies, loyalty advantage will be added at the end of every policy year as follows:

  Premium Band	Rs.2.5 lakhs to Rs.4,99,999	Rs.5 lakhs to Rs.9,99,999	Rs.10 lakhs and above
  Limited 5 Pay	0%	0%	0%
  Limited 10 Pay	0.10%	0.10%	0.10%
  Limited 15 and 20 Pay, and Regular Pay	0.15%	0.15%	0.15%

• Investment strategies: You can choose from 3 different investment strategies but only one strategy can be effective at a time:
  • Automatic Trigger Based Investment Strategy (ATBIS): You can opt for ATBIS before policy commencement or at policy anniversary. You will get regular returns and maintain a balanced portfolio.
  • Fund Transfer Strategy: Earn enhanced systematic returns from the equity market over a period of time. This strategy is available only for the Annual and Single mode of premium payment.
  • Age Based Investment Strategy: This strategy will balance your portfolio and adjust the risk exposure as you grow older as per the below table:

    Age	Equity 1	Debt1	Value
    5 – 25 years	40%	30%	30%
    26 – 35 years	35%	40%	25%
    36 – 45 years	30%	50%	20%
    46 – 55 years	25%	60%	15%
    56 – 65 years	20%	70%	10%
    66 – 70 years	15%	80%	5%
    71 - 90 years	5%	90%	5%

• Payout option: You can opt for a lump sum payout upon reaching maturity date or settlement option, wherein you will receive payment in equal units at regular intervals over a period of time. Settlement period starts from the maturity date and is applicable for a maximum of 5 years. There is no life cover during this period. In the case of the demise of life insured, only Fund Value is payable. Switches and withdrawals aren’t allowed during this period.
• Death Benefit: In the case of the demise of the life insured, the higher of Fund value including top-up fund value, Sum assured plus top-up sum assured or 105% of the total premiums paid including top-up premiums excluding Service Tax shall be paid as death benefit.
• Switching: You can switch units from one unit linked fund to another any number of times free of charge. Minimum switching amount is Rs.5,000 and maximum is the Fund Value.
• Partial Withdrawals: In the case of financial emergencies, you can make partial withdrawals after the completion of the 5th policy year, provided all premiums are paid. Minimum partial withdrawal amount is Rs.10,000 to maximum 25% of the fund value, provided the balance is 110% of your annual premium after withdrawal in the case of Regular or Limited Premium and Rs.1 lakh in the case of Single Premium.
• Systematic Partial Withdrawals: You can make systematic partial withdrawals (monthly, quarterly, half-yearly or yearly) after the completion of the 5th policy year, provided you are 18 years old or above. Minimum systematic partial withdrawal amount is Rs.1,000 to maximum 25% of the fund value, provided the balance is 110% of your annual premium after withdrawal in the case of Regular or Limited Premium and Rs.1 lakh in the case of Single Premium.
• Top-Up Premium: You can increase your top-up sum assured with top-up premium. The top-up premium has to be paid before the last 5 years of your policy term. Minimum top-up premium amount is Rs.10,000 and maximum is the single premium, regular premium or limited premium amount at the time of payment.
• Fund options: You can choose between 7 different investment fund options to invest your money in depending on your investment needs:

  Fund Name	What does the fund do?	Asset Allocation	Returns and Risk Profile
  Equity1	High real rates of return in the long term through diversified equity investment and moderate negative returns in the short term through exposure to debt and money market instruments	Equity - 80% to 100% Debt - 0% Money Market - 0% to 20%	High
  Debt1	Returns which exceed inflation in the long term and low negative returns in the short term through exposure to debt and money market instruments	Equity - 0% Debt - 70% to 100% Money Market - 0% to 30%	Moderate
  Balanced1	Returns which exceed inflation in the long term and negative returns in the short term	Equity - 50% to 70% Debt - 30% to 50% Money Market - 0% to 20%	Moderate to high
  Value	Moderate to high real rate of return in the long term by investing more in equity investments and negative returns in the short term	Equity - 70% to 100% Debt - 0% Money Market - 0% to 30%	Very high
  Index Tracker	High growth opportunities with long-term capital appreciation through investments in equity and equity related instruments	Equity - 90% to 100% Debt - 0% Money Market - 0% to 10%	High
  Dynamic Asset Allocation Fund	High growth opportunities with an increased or decreased allocation to equity	Equity - 0% to 80% Debt - 0% to 80% Money Market - 0% to 40%	High
  Equity Elite Opportunities	Invest primarily in equity with combination of money market instruments	Equity - 60% to 100% Debt - 0% Money Market - 0% to 40%	High

• Charges:
  • Premium Allocation Charge: For Single or top-up premium, the allocation charge is 2% of single premium or top-up premium. You can get 1% discount for policies purchased through the company website. For Regular or limited premium, the allocation charge is 2% of single premium or top-up premium for 6th policy year and onwards, 4% for 2nd to 5th policy year, and 6% for 1st policy year. You can get 1% discount for policies purchased through the company website.
  • Fund Management Charge: 1.35% of the fund value before NAV calculation is levied as FMC for any of the 6 fund options.
  • Discontinuance Charge:

    Policy year	Discontinuance Charge for Regular or Limited Premium policies as a percentage of the Annualized Premiums or Fund Value	Discontinuance Charge for Single Premium policies as a percentage of the Single Premiums or Fund Value
    1st year	6%, subject to maximum of Rs.6,000	1%, subject to maximum of Rs.6,000
    2nd year	4%, subject to maximum of Rs.5,000	0.5%, subject to maximum of Rs.5,000
    3rd year	3%, subject to maximum of Rs.4,000	0.25%, subject to maximum of Rs.4,000
    4th year	2%, subject to maximum of Rs.2,000	0.1%, subject to maximum of Rs.2,000
    5th year and onwards	Nil	Nil

  • Mortality Charge: Annual Mortality Charge is levied for every Rs.1,000 sum at risk, which is the higher of Sum Assured or 105% of the total premiums paid.

Exclusions - What the IndiaFirst Life Wealth Maximizer Plan doesn’t cover?

The IndiaFirst Life Wealth Maximizer Plan will be terminated immediately, if the life assured commits suicide within a year from date of policy commencement or revival. The Fund Value as on the date of death will be paid to the nominee or beneficiary.

Other key features – Freelook Period, Surrender Values, Grace Period etc.

Listed below are the key features of IndiaFirst Life Wealth Maximizer Plan:

• Free-look period: From the date of receipt of the rider policy document, you are given 15 days (30 days for policies purchased through distance marketing) to review the terms and conditions of the policy. If you have any objection to the terms and conditions, you have the option to return the policy. You will be refunded the premium paid minus risk premium cover for that period and other charges, if any.
• Grace period: If you fail to pay premium on the due date, you will be given 15 days grace period for monthly payment mode and 30 days for all other payment modes. If you fail to pay the premium within the grace period, your policy will lapse and you can revive it within 2 years from the end of grace period or choose to withdraw completely without the risk cover. The company will send a notice within 15 days from the expiry of grace period and the policyholder will have to choose the above mentioned option within 30 days of receipt of notice.
• Policy revival: You can revive the lapsed policy within 2 years from the end of grace period, provided you pay all premiums due, medical costs (if any), and premium allocation charges. Deducted discontinuance charges will be added back.
• Policy discontinuance: The first 5 policy years is the lock-in period. If you fail to pay premium within the first 5 policy years, then the Fund Value of the policy will be transferred to Discontinued Policy Funds until you decide to revive the policy. If you fail to pay premium after the lock-in period, you can revive the policy, withdraw completely or the policy will attain paid-up status.

Tax Benefits – How you can save with the IndiaFirst Life Wealth Maximizer Plan?

Under IndiaFirst Life Wealth Maximizer Plan, you can get tax deductions on premiums paid under Section 80C of the Income Tax Act, 1961.

Other benefits – How you can save with the IndiaFirst Life Wealth Maximizer Plan?

There are several other benefits of purchasing insurance cum investment plans from IndiaFirst Life Insurance Company Limited such as:

• Online application: You can purchase insurance plans online through the company website and get some discounts on premiums.
• Insurance advisor: You can fill up and submit an online request form to get in touch with an insurance advisor who can guide you through all insurance related processes.
• Grievance redressal: The company has a dedicated grievance redressal cell to resolve your grievances at the earliest. Login into the company website and register your grievance, call the company toll-free number at 1800-209-8700 or mail to customer.first@indiafirstlife.com. Grievances will be acknowledged within 15 business days.
• Premium payment: You can make premium payments via e-wallet, cash card, net banking, cheque or cash deposits at any of the company branch. Online premium payment can be made through the company website.

Why should you buy IndiaFirst Life Wealth Maximizer Plan from IndiaFirst Life Insurance Company Limited?

IndiaFirst Life Insurance Company Limited is a joint venture between Bank of Baroda, Andhra Bank, and Legal and General (UK). The company is built on financial prudence, the trust of its customers, and corporate governance. It provides the best in insurance products and services. From life assurance and pension plans to investment and general insurance plans, the company offers range of insurance products to meet the varying needs of its customers. With the IndiaFirst Life Wealth Maximizer Plan, you can provide financial protection to your family in your absence and grow your wealth the various investment fund options and strategies.