IndiaFirst Savings Plans helps you to save money and protect your life together. There are many IndiaFirst Investment and Savings plans that offer many benefits and features. Read more to know the features of each plan and select the desired plan that satisfies your requirement.
IndiaFirst Savings Plans
There is a wide range of IndiaFirst Life Insurance Savings Plans which offers both protection and a disciplined way to save money regularly. An IndiaFirst Savings Plan helps you to achieve secure life or secure retirement fund for your future years or give a better education or overseas education to your children. Through IndiaFirst Savings and Investment Plan, an Individual can Invest money on a regular basis to reach a financial goal on a long term basis or short term basis.
IndiaFirst Savings Plans and Investment Plans offers many features and benefits to its customer. So, taking IndiaFirst Saving Plan helps you to avail more benefits. The IndiaFirst Saving Plans offer you various avenues to save and earn. These India First Life Insurance Plans help you to invest in a disciplined manner and systematically. So, with the advantage of this, you and your family can achieve your financial goals. Read the complete article to know more features, eligibility, benefits and download brochures.
IndiaFirst Savings and Investment Plans – Review & Eligibility
There is a wide range of IndiaFirst Savings and Investment Plans. Among all the IndiaFirst Life Insurance plans, savings plans are more in number. There are 3 types of IndiaFirst Investment Plans and Savings Plans. It’s hard for an individual to choose a plan from all those IndiaFirst Saving Plans. So, below we have provided the brief details like the review, eligibility, features, benefits, etc. of all these plans. Check the details and take an IndiaFirst Saving Plan / IndiaFirst Investment Plan that satisfies your requirement.
- IndiaFirst Smart Save Plan.
- Happy India Plan.
- Money Balance Plan.
IndiaFirst Smart Save Plan
IndiaFirst Smart Save Plan offers you a life protection and also helps you to develop a body of wealth through market linked investments. With this, you can fulfil your dreams like an own house, exotic overseas vacations, etc. You can also secure your life and your family.
Features
- In the case of the death of a life assured, the plan offers a life cover.
- This plan has given the option for a policyholder to invest in 4 funds across different asset classes.
- Also, a policyholder can make the most of his/her investments by ‘redirecting their premium’ or ‘switching’ from one fund to another.
- A policyholder can build his/her savings systematically, through investments in various funds as mentioned above.
- Furthermore, in the case of any financial emergency, you can access your money through partial withdrawals.
Benefits
- Maturity Benefit: On survival of the policyholder till the end of the policy term, then the Maturity Benefit is payable. The policyholder may choose to receive the whole fund value as a lump sum payment at the end of the policy term or Reschedule or postpone the maturity payment through ‘Settlement Option’.
- Death Benefit: On the death of the Life assured during the policy term, the Nominee/ Appointee/ Legal Heir will receive the lump sum amount. That lump sum amount would be either the sum assured or fund value, whichever is higher.
- Tax Benefit: Policyholder can avail Tax benefit on premiums paid under section 80(C) and benefit received under section 10(10D) of IT Act, 1961.
Eligibility
| Age at Entry |
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| Maturity Age: |
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| Premium Payment Option: | Regular, Limited, and Single. |
| Premium Paying Mode: |
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For more information regarding this plan, refer IndiaFirst Smart Save Plan Broucher.
IndiaFirst Happy India Plan
This is one of the best IndiaFirst Savings Plans. With IndiaFirst Happy India Plan, you can give best to your loved ones. It may be your child’s education or any dream you can easily fulfil with this plan.
Features
- Your loved one or child will receive funds at times like high school/ college/ professional course and any other life events.
- You will have a life protection through which your loved one can receive lump sum amount on death of the life assured.
- Your family will also get additional security financially in case of death/disability of life assured.
- Also, You can opt for the beneficiary (Nominee, Legal Heir, etc.) to receive the fund value at maturity, even if the SA (sum assured) has been paid, on the death of the life assured.
Benefits
- Maturity Benefit: On survival of the policyholder till the end of the policy term, then the Maturity Benefit is payable. The policyholder may choose to receive the whole fund value as a lump sum payment at the end of the policy term or Reschedule or postpone the maturity payment through ‘Settlement Option’.
- Death Benefit: On the death of the life assured, the beneficiary will receive the sum assured if he/ she has attained the age of 18 years. If the beneficiary is a minor, then the Sum Assured will be paid to the Appointee.
- Tax Benefit: You can avail tax benefit under Section 80C and Section 10(10)D of Income Tax Act, 1961 on the premiums you invest.
Eligibility
| Age at Entry |
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| Maximum Maturity Age: | 60 Years |
| Premium Paying Mode: | Monthly, half yearly or yearly |
| Investment: |
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Furthermore, information regarding IndiaFirst Savings Plans, refer IndiaFirst Happy India Plan Broucher.
IndiaFirst Money Balance Plan
With IndiaFirst Money Balance Plan you can insure your life and also earn and secure your returns on the money you invest with the company.
Features
- With ‘automatic trigger based’ investment strategy, you can optimize your investments.
- It offers the premium paying options of Regular/Limited/Single Premium Payment.
- Also, in the case of death of a life assured, the plans offers a life cover.
- Furthermore, in the case of any financial emergency, you can access your money through partial withdrawals.
Benefits
- Maturity Benefit: On survival of the policyholder till the end of the policy term, then the Maturity Benefit is payable. The policyholder may choose to receive the whole fund value as a lump sum payment at the end of the policy term or Reschedule or postpone the maturity payment through ‘Settlement Option’.
- Death Benefit: On the death of the Life assured during the policy term, the Nominee/ Appointee/ Legal Heir will receive the lump sum amount. That lump sum amount would be either the sum assured or fund value, whichever is higher.
- Tax Benefit: Policyholder can avail Tax benefit on premiums paid under section 80(C) and benefit received under section 10(10D) of IT Act, 1961.
Eligibility
| Age at Entry |
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| Maturity Age: |
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| Premium Payment Option: | Regular, Limited, and Single. |
| Premium Paying Mode: |
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Furthermore, information regarding IndiaFirst Savings Plans, refer IndiaFirst Money Balance Plan Broucher.
How to Buy IndiaFirst Savings Plan?
From all the above mentioned IndiaFirst Savings plans, you can buy the required policy at the IndiaFirst Life Insurance Branch Office or contact the agent of IndiaFirst Life Insurance company. To buy an IndiaFirst Saving Plan, a proposal form/application form is required. Some policies have the facility to buy through online. The documents that may be required to buy IndiaFirst Savings and Investment plans are,
- Application form/ Proposal form along with a photo.
- Address Proof.
- Age Proof.
- Medical reports (If required).
IndiaFirst Saving Plan Claiming Process
On the death of the policyholder during the policy term or on maturity, the nominee/policyholder can claim for the benefit. To claim any of the IndiaFirst Savings and Investment plans, you need to visit the branch office if there is no online facility. Documents that may be required for claiming an IndiaFirst Saving Plan or Investment plan are,
- Original Policy Document.
- Proof of title and Death Proof.
- Medical treatment documents before death.
- Age proof.
- Additional documents in case of death occurred due to unnatural or accidental death.
IndiaFirst Investment Plan and Savings Plan Premium Calculator
If you want to calculate the premium or maturity amount or any other, you can make use of the IndiaFirst Savings Plan Premium Calculator. For calculation, the details that you may need to enter are,
- Name of the Policyholder.
- Email Id.
- Mobile Number.
- Age Proof.
- Policy Term and Sum Assured.
IndiaFirst Savings and Investment Plan – Additional Information
Free Look Period:
If you are not satisfied with the policy terms and conditions, you may cancel the policy within the Free Look Period mentioned by the company. For most of the policies, it will be 15 days.
Grace Period:
If you have not paid the premium within time, the company will provide a grace period to make the policyholder pay the premium within that time. Most of the IndiaFirst policies has the grace period as shown below.
- For premium payment of yearly or half-yearly or quarterly the Grace Period is 30 days.
- Premium payment of monthly mode, 15 days grace period is allowed.
Revival Period:
If you have not paid the due premiums within the grace period, the policy lapses. Then you can revive IndiaFirst Savings Plans within the duration mentioned by the company from the date of first unpaid premium. For most of the IndiaFirst policies, the Revival Period will be 2 years.
Surrender Value:
You can surrender the policy at any time during the policy term if you have paid the premiums for the period mentioned by the company. For some plans like IndiaFirst Money Balance Plan, this period will be 5 policy years.