IndiaFirst Life Little Champ Plan

IndiaFirst Life Little Champ Plan is a non-linked, participating investment plan designed to help you secure your child's future. It provides guaranteed payouts at regular intervals to support your child's education. If you are no longer around, the plan also offers financial protection for your child.

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Investing in your child's future:A wise decision & a loving choice
  • Insurer pays premium in case of loss of life of parent

  • Create wealth for child’s aspirations

  • Tax Free maturity amount+

  • 12+ plans available

In-built life cover
Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr Tax Free*

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What is IndiaFirst Life Little Champ Plan?

The IndiaFirst Life Little Champ Plan is a non-linked, participating life insurance plan designed to help you secure your child's future. It offers a combination of features to provide both financial security and flexibility. With guaranteed payouts at regular intervals, you can plan for your child's education expenses with confidence. The plan also offers comprehensive financial protection in your absence. If you choose to add the Accidental Total Permanent Disability (ATPD) benefit, your policy premiums will be waived if you suffer such a disability. The Little Champ Plan is customizable, allowing you to choose a policy term and premium payment term that fits your financial goals.

Features of IndiaFirst Life Little Champ Plan

The Little Champ Plan offers a variety of features to help you secure your child's future:

  • Life Cover: Protects your loved ones financially in case of death or accidental total permanent disability (ATPD).

  • Premium Waiver: If you die or suffer ATPD, no more future premiums are needed.

  • Policy Flexibility: Choose the policy term, premium payment term, and payment method that suits your needs.

  • Death Benefit Choices: Get the death benefit as a lump sum or spread out in monthly payments.

  • Payout Options: Choose from 8 guaranteed payout options, from 101% to 125% of the sum assured, to support your child's milestones.

People also read: IndiaFirst Life Child Plans

Eligibility Criteria for the IndiaFirst Life Little Champ Plan

Parameters
Entry Age
  • Minimum:  21 years
  • Maximum:  45 years 
Premium Paying Term (PPT) 7-14 years
Policy Term
Premium Paying Term                 Policy Terms                                                                 
Min Max
7 15 20
8 16 20
9 17 20
10 18 25
11 19 25
12 20 25
13 21 25
14 22 25
Sum Assured Minimum Limit:
  • 7 to 9 years: ₹1,50,000
  • 10 to 14 years: ₹2,00,000
Maximum limit:  No limit, subject to underwriting
Minimum Annual Premium
Premium Paying Mode Minimum Premium
Monthly Rs. 1349
Quarterly Rs. 4015
Half Yearly Rs. 7934
Yearly Rs. 15500

Investment Investment
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Child Banner
Secure your child’s future with or without you
Start Investing
₹10,000/Month
& Get
₹1 Crore*
*Standard T & C Apply

People also read: Child Education Plan

Benefits of the IndiaFirst Life Little Champ Plan

In Case of Death of the Life Assured (Policyholder):

  1. Financial Security for Your Child:

    • Your beneficiary will receive the Death Benefit, which is the higher of the Sum Assured on death or 105% of the total premiums paid.

    • You can choose to receive this benefit as a lump sum or as a monthly income spread over 5, 10, or 15 years.

  2. Guaranteed Payouts and Maturity Benefit:

    • Even in your absence, your child will receive all guaranteed payouts and maturity benefits as per the plan schedule.

  3. Continued Policy Benefits:

    • The policy will continue to accrue bonuses (if declared), providing additional financial support for your child's future.

Additional Coverage Options:

  1. Death and Accidental Death Benefit:

    • This benefit provides the Death Benefit as defined earlier, plus an additional amount equal to the Sum Assured on Maturity in case of accidental death.

  2. Death, Accidental Death and Accidental Total Permanent Disability (ATPD) Benefit:

    • This comprehensive coverage offers the highest level of protection. It includes the Death Benefit, Accidental Death Benefit, and a waiver of future premiums if the Life Assured becomes totally disabled due to an accident. The policy will continue to pay out guaranteed benefits and accrue bonuses (if declared) even during this time.

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Invest ₹10K/Month YOU GET ₹1 Crores* For Your Child View Plans
Invest ₹8K/Month YOU GET ₹80 Lakhs* For Your Child View Plans
Invest ₹5K/Month YOU GET ₹50 Lakhs* For Your Child View Plans
Standard T&C Apply *

People also read: Child Investment Plans

Policy Details of the IndiaFirst Life Little Champ Plan

  1. Grace Period:

    • 30 days for yearly, half-yearly, and quarterly premiums.

    • 15 days for monthly premiums.

    • Policy benefits continue during the grace period.

    • Death benefit payable during the grace period after deducting unpaid premiums.

    • Waiver of future premiums for Accidental Total Permanent Disability (ATPD) during the grace period.

  2. Free Look Period:

    • 15 days for standard policy purchases.

    • 30 days for online or electronic purchases.

    • Option to return the policy if not satisfied with terms.

  3. Policy Loan:

    • Loan facility is not available under this plan.

People also read: Government Schemes for Girl Child

Exclusions Under the IndiaFirst Life Little Champ Plan

Exclusions under the IndiaFirst Life Little Champ Plan are: 

  1. Suicide Exclusion:

    • If the life assured dies by suicide within 12 months of policy commencement or revival, the nominee receives 80% of the total premiums paid or the surrender value (whichever is higher). This applies only if the policy is still in force.

  2. Accidental Death Benefit Exclusion:

    This benefit is excluded if death results directly or indirectly from:

    • Self-inflicted injury, suicide, or attempted suicide (regardless of mental state)

    • Being under the influence of drugs, alcohol, or narcotics (unless prescribed by a doctor)

    • War, invasion, terrorism, civil unrest, or strikes

    • Flying activities except as a passenger on a commercial aircraft

    • Participating in criminal activity

    • Injuries sustained before policy coverage began

    • Engaging in hazardous pursuits like professional sports, diving, hunting, mountaineering, etc.

    • Nuclear contamination or accidents related to nuclear materials

  3. Accidental Total and Permanent Disability Benefit Exclusion:

    This benefit is excluded if disability results directly or indirectly from:

    • Self-inflicted injury, suicide, or attempted suicide (regardless of mental state)

    • Being under the influence of drugs, alcohol, or narcotics (unless prescribed by a doctor)

    • War, invasion, terrorism, civil unrest, or strikes

    • Flying activities except as a passenger on a commercial aircraft

    • Participating in criminal activity

    • Disability due to an accident that occurred before policy coverage began

    • Disability due to any illness, disease, or congenital condition

    • Engaging in hazardous pursuits like professional sports, diving, hunting, mountaineering, etc.

    • Nuclear contamination or accidents related to nuclear materials

FAQs

  • When does the Risk Cover begin?

    The Risk Cover starts on the date of policy issuance, marking the commencement of death coverage under this Policy.
  • What is received upon completion of the policy term?

    At the end of the policy term, the Life Assured or nominee will receive all declared simple reversionary bonuses, accrued if any, along with any declared terminal bonus, and the final installment of the guaranteed payout based on the chosen payout option as the maturity benefit.
  • Are there any applicable taxes, and who is responsible for them?

    Yes, applicable taxes are to be borne by you, the policyholder and are subject to change according to tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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IndiaFirst Child Plans Reviews & Ratings

4.5 / 5 (Based on 5 Reviews)
(Showing Newest 5 reviews)
Binita
Attingal, March 31, 2021
Great features
In the child insurance plan of India first which I have recently bought for my son is really good and has several safety features. I took this plan from the website of the policybazaar. Thanks team.
Vivek
Babina, March 30, 2021
Provides financial support
This India first child insurance plan has provided with financial safety and support for my child in his future. It is easy to do and quick too.
Sarvesh
Belthangady, March 16, 2021
Tax benefits
With the child insurance plan I got the tax benefits under Section 80(C). It is also known as tax rebate. Also, my child will get a safety and security in his future.
Anmol
Bankura, March 09, 2021
Low amount of premium
The premium amount of India first child insurance is very low in premium price and it can be easily be affordable. I found it really convenient in nature for my child. Thanks.
Abhishek
Ahmedabad, May 13, 2016
Good Plan
The perfect policy which i buy from IndiaFirst life insurance and the product is child plan. Policy coverage is 90% and the premiums are low ~15 K thrice a year. The claims are high around 36 L after policy ends. The claiming process is easily done due to fast service provided by the executives and staff members. Good investment and tax saving. I like the policy plan.
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