IndiaFirst Cash Back Plan

India First Cash Back Plan is a traditional Money Back Plan that takes care of liquidity requirements by providing money backs at regular intervals and also takes care of protection needs through insurance cover.

kapil-sharma
  • 4.8~ Rated
  • 7.7 Crore Registered Consumer
  • 50 Partners Insurance Partners
  • 4.2 Crore Policies Sold

Investment Plans

  • Guaranteed Tax Savings^Under sec 80C & 10(10D)
  • Under sec 80C & 10(10D)Invest ₹10k Per Month*
  • Zero LTCG Tax^
Buy Online & Get upto 4% extra#
Get Guaranteed returns along with life cover
invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*
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rating
7.7 Crore
Registered Consumer
50
Insurance Partners
4.2 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

India First Cash Back - Key Features

  • The plan provides an option of limited premium payment and is a non-participating plan.
  • Guaranteed Additions expressed as a percentage of annual premiums accrue every policy year.
  • Money Back Benefits are paid to the policyholder on survival as per the pre-defined schedule. 

India First Cash Back - Benefits

  • Guaranteed additions accrue @ 5%, 6% or 7% for term 9, 12 and 15 years respectively.
  • If the policy-holder dies, sum assured on death + an accrued guaranteed addition is paid.
  • Sum Assured on death is higher of the following options-
    • Sum assured on maturity
    • Ten times the yearly premium
    • 105 percent of all premiums paid till death.
      • Survival benefit is paid @ 20% of SA in the 3rd and 6th policy year for the 9-year term, in the 4th and 8th policy year for the 12-year term and in the 5th and 10th policy year for the 15-year term plan.
      • On maturity, 60% of the SA and guaranteed additions is paid.
      • The insured can avail tax rebate as per the sections 80C and 10(10D) Income Tax Act on the premium paid and claim received.

India First Cash Back - Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

15 years

55 years

Maturity Age (Last Birthday)

-

70 years

Policy Term (PT) in years

9, 12, 15

Premium Paying Term (PPT) in years

5, 7, 10

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Premium

6000

No limit

Sum Assured

50,000

No limit

Details about Premium

Premium in Rupees for a Sum Assured of 1 lakh and term 15 years

Age

35 years

45 years

55 years

Premium

9,123

9,524

10,598

India First Cash Back - Policy Details

Grace Period: 15 days’ grace period is permissible for premium payment in monthly mode and 30 days in other modes. If the policyholder fails to make payment within the grace period, the policy will lapse.

Policy Termination or Surrender Benefit Policyholder is allowed to surrender the policy provided 2 or 3 years’ full Premium has been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV = (GSV % of Premiums paid + GSV% of Guaranteed Additions) – Survival Benefits already paid.

SSV = (proportionate SA on Maturity + accrued Guaranteed Additions * SSV Factor) – Survival Benefits already paid

Free Look Period: From starting date of policy issued, the insurance owner has a limited 15 days period of free-look during which they can initiate policy cancellation if he/she did not like the terms and conditions offered by the policy. The customer will receive the paid premium and a proportionate premium for the risk borne by the company is subtracted, including any add-on expenses, like medical examination or stamp duty charges. 

Inclusions

The plan does not offer any loan facility.

Additional Features or Riders

High sum assured rebates are also allowed for coverage of 1 lakh and more

Exclusions

The coverage of the term insurance is nullified if the life insured ends his/her own life or we can say if he/she commits suicide within 12 months from the date the policy was issued on and comes into action. The insurer of the policy returns only 80% of the premium paid to the beneficiary of the policy. In case, the policyholder does the same act within a year of policy renewal then the nominee of policy wee receive either the surrender benefits or the 80% of the premium paid whichever is higher.

Documents Required

The policy owner has to fill up an ‘Application form ’with identity proof, bank account proof, address proof and a recent photograph.A medical examination may be required in some cases, based on the sum assured and the age of the person.

You may also compare: IndiaFirst Investment Plans

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*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
^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.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Investment Plan
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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