IndiaFirst Simple Benefit Plan

IndiaFirst Simple Benefit Plan is a with profit, nonlinked, endowment insurance plan. The plan offers protection as well as an opportunity to save for the future through safe investments.

Key Features

  • Build your savings systematically, through regular premium contributions based on your income and needs
  • Plan your future needs, by deciding when you need the assured amount – anytime between 15 to 25 years
  • Enjoy instant Over the Counter plan issuance with simplified underwriting for a Sum Assured up to 2,00,000.
  • The plan offers a death benefit equal to the sum assured in case of the life assureds’ untimely demise. The death benefit along with the simple reversionary bonus accumulated (till death) will be paid out to the nominee
  • The guaranteed maturity sum assured along with simple reversionary bonus and terminal bonus, if any will be paid at the end of the plan term

Benefits

  • Tax Benefits:
Enjoy tax benefits on the premium you invest under Section 80C of Income Tax Act, 1961. Your family members also get benefits without any applicable Tax, in case of demise of the life assured under Section 10(10) D of Income Tax Act, 1961.
  • Death Benefit:
In case of the Life Assured’s un timely demise a lump sum amount as mentioned in the table below, will be payable to the Nominee / Appointee / Legal Heir.
  • Maturity Benefit:
The guaranteed sum assured along with the simple reversionary bonus and terminal bonus, if any is paid at the end of the plan term

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 18 years 50 years
MATURITY AGE - 70 years
POLICY TERM 15 years 25 years
SUM ASSURED Rs.20,000 Rs.5,00,000
PAYMENT MODE Yearly, Monthly, and Half-Yearly

What if?

I am unable to pay premium on time

Grace period of 30 days will be provided and you should pay the premium with in the specified time period.

I want to take a loan

Such option is not available in the policy