With a paid-up capital of Rs. 475 crore, IndiaFirst Life Insurance Company Limited is the youngest life insurer of India’s. The Company is endorsed by two of the largest public sector banks of India – Bank of Baroda (holding 44%) and Andhra Bank (30%) along with Legal & General (26%), which is an important wealth and risk management and Investment Company of the UK. IndiaFirst Life Insurance Company Limited began its operation in March, 2010. It was inaugurated by the then Honorable President of India, Shri Pranab Mukherjee

The very initiative profit for the first time of the Company was Rs. 6.9 Crore, in the fiscal year 2014-15. IndiaFirst Life Insurance Company Limited has its presence is 1000+ locations across the country by means of partner bank branches that surpasses Rs. 8500. The Company has been capable of securing the lives of more than 7.9 Million customers. The asset under management of the Company is over Rs. 8000 Crore, as of 31st March, 2015. The products range of the IndiaFirst Life Insurance Company Limited has an extensive extent of coverage and designed for enhanced financial security at the time of need.

Different Types of IndiaFirst Life Insurance Plans

IndiaFirst Life Insurance Company Limited has a number of different life insurance plans on offer. Let’s check them out below:

IndiaFirst Term Insurance Plans

Term life insurance plans from IndiaFirst has been meticulously designed to secure your family financially even in your absence plus, the term policy also offers attractive returns too. Let’s check out some of the best term insurance plans from IndiaFirst Life Insurance Company Limited:

IndiaFirst Anytime Plan

IndiaFirst Anytime Plan is an online life insurance policy from the company which means you can only purchase this plan online. The special features and benefits of this plan are mentioned below:

• Minimum entry age: 18 years
• Maximum entry age: 60
• Maturity age: 70 years
• The minimum Sum Assured: 10 Lakhs
• Maximum Sum Assured: 50 crores
• IndiaFirst Anytime Plan provides higher Sum Assured at a comparatively lower premium
• Minimum policy term: 5 years
• Maximum policy term: 40 years
• For choosing a healthy lifestyle, the policy offers different premium rates
• Comes with the flexibility to make the payments on premium on a yearly/ half-yearly or monthly basis.
• You can make lump sum payment at the policy inception under the single pay option.
• You can pay the premium for the total duration of the plan under the regular pay option.
• You can save a lot on premiums given that this is an online term life insurance plan. The policy also provides with the ease to purchase the plan at just a few click of the mouse
• In case of death of the insured, the policy offers the nominee the Sum Assured
• For regular pay policies, the policy does not offer any surrender value.
• In the single pay option, the policy offers 40% of the paid premium as surrender value, given that you have regularly paid the premiums for 3 policy years.
• Provides tax benefits for premiums paid regularly.

IndiaFirst Life Plan

Some of the special features and benefits of IndiaFirst Life Plan are mentioned below:

• Minimum entry age: 18 years
• Maximum entry age: 60 years
• Maturity age: 70 years
• Minimum Sum Assured: Rs. 1 Lakh
• Maximum Sum Assured: Rs. 50 crores
• Minimum policy term: 5 years
• Maximum policy term: 40 years
• This life insurance plan from IndiaFirst has been designed to provide with a considerable coverage options at a comparatively lower premium
• Gives you the flexibility to make the premium payments on yearly/ half-yearly or monthly basis.
• At the inception of the policy, you can make lump sum payment under the single pay option.
• You can pay the premium for the entire duration of the plan Under the regular pay option
• For regular pay policies, IndiaFirst Life Plan does not offer any surrender value
• In the single pay option, the policy offers 40% of the premium paid as surrender value given that you have paid the premiums regularly for 3 policy years.
• For opting for Sum Assured of 50 lakhs and above, the policy offers differential premium pricing for smokers and non-smokers
• In case of death of the insured, the Sum Assured is paid to the nominee by the company
• Provides tax benefits for premiums paid regularly

IndiaFirst Simple Life Plan

• Some of the special features and benefits of IndiaFirst Simple Life Plan are mentioned below:
• Minimum entry age: 18 years
• Maximum entry age: 60
• Maturity age: 60 years
• Minimum Sum Assured: Rs.5, 000/-
• Maximum Sum Assured: Rs.50, 000/-
• Minimum policy term: 5 years
• Maximum policy term: 10 years
• Provides higher Sum Assured at a considerably lower premium
• For choosing a healthy lifestyle, the policy offers differential premium rates
• The policy offers a life cover of 5 or 10 years
• Comes with the flexibility in terms of choosing the Sum Assured
• The Sum Assured is paid to the nominee by the Company in case of death of the insured
• If you have paid the premiums regularly for 3 policy years then you are offered the option to surrender your policy
• The surrender value is 40% of the paid premiums
• Provides tax benefits for premiums paid regularly

IndiaFirst ULIP Plans

Unit Linked Investment Plans (ULIP) from IndiaFirst Life Insurance Company Limited has been specifically designed to provide you with investment returns and life cover. Following are the ULIP plans from IndiaFirst Life Insurance Company:

IndiaFirst Money Balance Plan

The special features and benefits of this IndiaFirst Money Balance Plan are mentioned below:

• Minimum entry age: 5 years
• Maximum entry age: 65 years
• Optimizes your investments with automatic trigger-based investment
• Flexibility to make the premium payments regularly (for a limited period) or via a single payment
• Allows transferring of investments for regular returns
• Offers partial withdrawal of funds
• Provides tax benefits for premiums paid regularly.
• In case of death of the life assured, the policy offers Sum Assured to the nominee

IndiaFirst Happy India Plan

The special features and benefits of IndiaFirst Happy India Plan are mentioned below:

• The minimum entry ages: 18 years
• Maximum entry age: 50 years
• The maximum age at maturity: 60 years
• Policy terms: 10/ 15/ 20 or 25 years
• This policy is basically a mixture of investment and life insurance plan
• Allows you to receive funds all through important milestones in life
• In case of death of the Life Assured, the policy offers lump sum benefit to the nominee
• Offers partial withdrawal of funds
• Provides tax benefits for premiums paid regularly
• Comes with the options to switch funds

IndiaFirst Smart Save Plan

Some of the special features and benefits of IndiaFirst Smart Save Plan are mentioned below:

• Minimum entry age: 5 years
• Maximum entry age: 65 years
• Maximum age at maturity: 75 years
• Comes with the flexibility to make premium payments on monthly/half-yearly and yearly basis
• This is basically a blend of both insurance as well as wealth builder
• Helps build your savings methodically via investments in a variety of funds
• In case of untimely death of the life assured, the policy offers life cover
• Provides partial withdrawal of funds
• Provides tax benefits for premiums paid regularly
• The policy let’s you to invest in 4 funds across different asset classes
• By transferring your investments into a liquid fund, the policy offers protection to your savings over last 3 years of the plan
• By switching your premiums from one fund to another, the policy offers optimization of investments

IndiaFirst Savings Plans

The savings plans from IndiaFirst have been crafted to boost your savings and provide you with life cover side by side. Let’s check out the different types of savings plans on offer from IndiaFirst Insurance Company:

IndiaFirst Cash Back Plan

Check out the special features and benefits of IndiaFirst Cash Back Plan below:

For a 9 year plan:

• Minimum entry age: 15 years
• Maximum entry age: 45 years
• Maturity age: 70 years

For a 12 year plan:

• Minimum entry age: 15 years
• Maximum entry age: 50 years

For a 15 year plan:

• Minimum entry age: 15 years
• Maximum entry age: 55
• Regular assured payouts are offered so that you can meet short and medium term financial goals.
• Guaranteed additions are offered by boosting your investments.
• By simply paying for a limited period, the policy offers long term investments.
• In case of death of the life assured, the policy offers higher of 10x the annualized premiums or Sum Assured on maturity along with guaranteed accumulated additions.
• Provides tax benefits for premiums paid regularly.

IndiaFirst Mahajeevan Plan

The features and benefits of IndiaFirst Mahajeevan Plan are mentioned below:

• Minimum entry age: 5 years
• Maximum entry age: 55 years
• Through regular premium contributions on the basis of your income and requirements, the policy offers accretion of your savings in a systematic way
• The policy offers terminal bonus (if any)
• In order to get death benefit equivalent to the rider Sum Assured in the event of death of the life assured, you may opt for a IndiaFirst Term Rider
• Avail Sum Assured along with the bonus (if any)
• Provides tax benefits for premiums paid regularly

IndiaFirst Simple Benefit Plan

The special features and benefits of IndiaFirst Simple Benefit Plan are mentioned below:

• Minimum entry age: 18 years
• Maximum entry age: 50 years
• Maturity age: 70 years
• Guaranteed assurance of payouts is offered under this plan
• Flexibility to save for your future is offered
• Loan facility of up to 90% is offered during emergencies of the surrender value
• Provides tax benefits for premiums paid regularly

IndiaFirst Retirement Plans

IndiaFirst Life Insurance Company has a number of effective retirement plans on offer. Let’s check them out below:

IndiaFirst Guaranteed Retirement Plan

The special features and benefits of IndiaFirst Guaranteed Retirement Plan are mentioned below:

• Minimum entry age: 40 years
• Maximum entry age: 80 years
• Minimum age for regular premiums: 25 years
• Maximum age for regular premium: 55 years
• Minimum age for limited premiums: 25 years
• Maximum age for limited premiums: 70 years
• Minimum age for single premiums: 0 years
• Maximum age for single premiums: 75 years
• Earn guaranteed returns at the beginning of the plan
• Offers an opportunity to earn retirement corpus through bonus
• The policy let’s you have peace of mind by allowing you to earn guaranteed returns and by helping you to fortify your finances
• You can start early under this plan
• Under this plan, you can easily build a corpus for the future
• Under Section 10 (10D) of the Income Tax Act, 1961, the policy offers tax free death benefits
• The policy offers tax benefits for premiums paid regularly under section 80C and 10(10D) of the Income Tax Act
• Convenience to make the most of your retirement pool is offered under this plan, up to a tenure of 40 years

IndiaFirst Immediate Annuity Plan

The special features and benefits of IndiaFirst Immediate Annuity Plan are mentioned below:

• Minimum age for first annuitant/ new members: 40 years
• Minimum age for existing pension members: 0 years
• Minimum age for second annuitant: 18 years
• Maximum age for both first and second annuitant: 80 years
• Avail
• The policy offers you the freedom to choose your retirement between 40 and 80 years
• The policy helps you to uphold your lifestyle even after retirement
• You can opt for the joint life option to support your spouse by means of annuity proceeds following your death
• Under this plan, you may opt for the return of purchase price option to safeguard your nominees so that they can get back your investment sum
• The policy provides you with exact monthly/ quarterly/ half-yearly and yearly income all the way through your retirement years
• Provides you with the choice of 4 annuity options:
  • Life annuity
  • Life annuity with return of purchase price
  • Joint life last survivor annuity for life
  • Certain annuity for 5/10/15 years
• The policy provides tax benefits for premiums paid regularly under section 80C and 10(10D) of the Indian Income Tax Act.