IndiaFirst Life ULIP Plans – Review IndiaFirst Smart Save Plan, Money Balance Plan, Happy India Plan Details

IndiaFirst Life ULIP Plans – Review IndiaFirst Smart Save Plan, Money Balance Plan, Happy India Plan Details

IndiaFirst Life ULIP Plans

IndiaFirst Life ULIP Plans are offered by IndiaFirst Life Insurance. The List of ULIP Plans are listed below. Check the Plans and compare with the other Plans.

List of IndiaFirst Life ULIP Plans

  1. IndiaFirst Smart Save Plan.
  2. IndiaFirst Money Balance Plan.
  3. IndiaFirst Happy India Plan.

1. IndiaFirst Smart Save Plan

1. IndiaFirst Smart Save Plan

Eligibility:

  • Entry Age – 5 yrs to 60 years of age.
  • Age at maturity – 75 yrs of age.
  • Single premium – Rs.45,000.
  • Payment Modes – Single, yearly, half-yearly.

Features:

  • You can build your savings systematically, through the investments in various funds.
  • The plan offers a life cover in case of the life assured’s untimely death.
  • You have the option to invest in 4 funds across different asset classes, where you choose the proportion of your investment based on your risk appetite.
  • You can make the most of your investments by ‘switching’ or ‘redirecting your premium’ from one fund to another.
  • Access your money in case of any financial emergency through partial withdrawals.
  • Under Section 80C, Income Tax Act, 1961 you can enjoy Tax Benefits on the premium you invest.

Benefits:

  • Death Benefit – In case the IndiaFirst Life ULIP Plans policyholder dies during the policy period, s/he will receive the higher of either the Sum Assured or the Fund Value.
  • Maturity Benefit – Upon the policy reaching maturity, the Fund Value is disbursed to the policyholder (depending on the investment option he or she has chosen).
  • Income Tax Benefit – Life insurance premiums paid up to the amount of Rs.1,00,000 can be claimed as deductions from taxable income under Sec 80C, every year.
  • Tax benefit on the benefits received on plan maturity under Sec 10 (10D).

➡ IndiaFirst Smart Save Plan Brochure

2. IndiaFirst Money Balance Plan

2. IndiaFirst Money Balance Plan

Eligibility:

  • Entry Age – 5 years to 65 years of age.
  • Age at maturity – 18 – 75 years of age.
  • Premium Amount – Rs.2.5 Lakhs.
  • Payment modes – Yearly, Half-yearly or Monthly.

Features:

  • You can optimize your investments with the help of our ‘automatic trigger based’ investment strategy. We help you build your savings systematically while securing the earnings on your investment through an automatic transfer in relatively safe funds that give consistent returns.
  • You may pay your premium(s) either regularly or for a limited period or through a single payment.
  • The plan offers a life cover in case of the life assured’s untimely demise.
  • Access your money in case of any financial emergency through partial withdrawals.
  • Under Section 80C you can enjoy Tax Benefits on the premium that you invest.

➡ IndiaFirst Money Balance Plan

3. IndiaFirst Happy India Plan

3. IndiaFirst Happy India Plan

Eligibility:

  • Entry age – The minimum and maximum entry age are 18 years and 50 years respectively.
  • Maturity age – The maximum age at maturity can be 60 years.
  • Minimum Investment – The minimum investment for the yearly, half-yearly and monthly modes are Rs 12,000/-, Rs 6,000/- and Rs 1,000/- respectively.

Features:

  • Timely fund disbursal – Under this scheme, a policyholder can choose the time when he/she wishes to receives funds, ensuring that financial contingencies are met during crucial occasions.
  • Partial withdrawals – This plan allows partial withdrawal of funds during emergencies.
  • Flexible terms – There are four term options of 10, 15, 20 and 25 years under the scheme.
  • Nominee/appointee – A policyholder can choose a nominee who receives the benefits in the event of his/her demise. In the case of the nominee being a minor, an appointee can be appointed who looks after the plan in the absence of the policyholder.
  • Multiple premiums were paying modes – There is three premium paying modes under this scheme, with the policyholder having the option to choose between a monthly, half-yearly or yearly frequency.

Benefits:

  • Maturity benefit – A policyholder is entitled to a maturity benefit equivalent to the fund value on maturity.
  • Death benefit – A death benefit equivalent to the sum assured will be paid to the nominee in the unfortunate event of the demise of the policyholder.
  • Additional benefit – A policyholder is entitled to an additional benefit in the event of an accident which results in permanent and total disability.
  • Tax benefits – Policyholders are entitled to tax benefits on the premiums, maturity amounts, withdrawals and death payout.