IndiaFirst Life ULIP Plans

IndiaFirst Life ULIP Plans, or Unit Linked Insurance Plans offer a unique blend of insurance coverage and investment opportunities. It offers you a unique avenue to grow your wealth while safeguarding your loved ones.

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About IndiaFirst Life ULIP Plan

IndiaFirst Life ULIP Plan is a type of investment product that combines life insurance coverage with market-linked investments. In case of an unfortunate event like your death during the policy term, this investment plan provides your loved ones with a death benefit as a lump sum payout.

A portion of your premium goes towards investment in various unit-linked funds. These funds invest in different asset classes like equity, debt, or a mix of both, depending on your chosen fund and risk appetite. Potential returns on these investments are linked to the market performance, offering the chance for greater wealth accumulation compared to traditional insurance plans.

Type of IndiaFirst ULIP Plans

IndiaFirst Life Insurance Company Limited offers various types of Unit Linked Insurance plans to its customers with varied features and benefit structures. Let us take a look at the different types of plans offered by IndiaFirst Life:

IndiaFirstLife ULIP Plan Entry Age Maximum Maturity Age Premium Payment Term (PPT) Policy Term (PT) Minimum Monthly Premium (in Rs.) Tax Benefits under the Income Tax Act, 1961
IndiaFirst Smart Save Plan 5 - 65 years 18 - 75 years Regular: Same as PT;
Limited: 5/ 7 years;
Single
Regular: 10 -70 years;
Limited: 10 -25 years;
Single: 5 - 20 years
Regular: Rs. 1,000 per month;
Limited: Rs. 1,250 per month;
Single: Rs. 45,000
Section 80C and Section 10(10D)
IndiaFirst Money Balance Plan 5- 65 years 18 - 75 years Regular: Same as PT;
Limited: 5/ 7 years; Single
Regular: 10 -70 years;
Limited: 10 -25 years;
Single: 5 - 20 years
Regular: Rs. 1,000 per month;
Limited: Rs. 1,250 per month;
Single: Rs. 45,000
Section 80C and Section 10(10D)
IndiaFirst Life Wealth Maximizer Plan 5 - 55 years 18 - 70 years 5/ 10/ 15/ 20 years;
Single
Single: 5 - 30 years;
Others: 10 - 85 years
Others: Rs. 20,833 per month;
Single: Rs. 5 lakhs
Section 80C and Section 10(10D)

Invest more and Get more with ULIP Plan Invest more and Get more with ULIP Plan
  1. IndiaFirst Smart Save Plan

    The IndiaFirst Smart Save Plan is a unit-linked, non-participating life insurance endowment plan from IndiaFirst Life Insurance. It combines the benefits of both insurance and investment in one plan. 

    Features of IndiaFirst Life Smart Save Plan:

    • Systematic Savings: You can build systematic savings through investments in various market-linked funds.

      • Life Cover: The plan provides life cover to your family in case of your untimely death.

      • Optimized Investments: It allows you to optimise investments by 'switching' or 'redirecting your premium' from one fund to another.

      • Flexible Premium Payment: Choose from regular premiums, limited premiums, or a single, one-time payment.

      • Payment Mode Options: Payment modes include monthly, half-yearly, and yearly for regular and limited premium options.

      • Partial Withdrawal Provision: Access funds in case of financial emergencies through partial withdrawals after completing the lock-in period.

      • Savings Protection: You can protect your savings by transferring investments into a liquid fund over the last 3 years of your policy term.

      • Tax Benefits: Tax benefits are available on premiums paid and benefits received under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

    People also read: What is ULIP

  2. IndiaFirst Money Balance Plan

    The IndiaFirst Life Money Balance Plan is a Unit-Linked Insurance Policy (ULIP) that aims to help you grow your wealth while providing life insurance coverage. It offers a combination of market-linked returns and a safety net to protect your investments. 

    Features of IndiaFirst Life Money Balance Plan:

    • Optimized Investments: You can utilize the 'automatic trigger-based' investment strategy to optimize your investments.

    • Flexible Premium Payment: Allows you to pay premiums through single, limited, or regular premium modes.

    • Family Protection: The plan helps you to safeguard your family's future with life cover in the event of the life assured's untimely demise.

    • Partial Withdrawals: You can access your money easily through partial withdrawals after completing the lock-in period.

    • Tax Benefits: You can avail of tax benefits on premiums paid and benefits received under Section 80C and Section 10(10D) respectively, as per the IT Act, 1961.

    • Fund Options: You can choose between two unit-linked funds, each offering different risk and return levels.

    • Smart Investment Strategy: Employ the Automatic Trigger-Based Investment Strategy (ATBIS) to optimize investments systematically.

    • Flexible Premium Modes: Premium payments can be made at regular intervals for a limited time or through a larger single premium payment.

    • Life Cover and Death Benefit: Obtain life cover in case of the life assured's untimely demise.

    • Appointments: The plan allows you to select an appointee and a nominee to manage policy funds in your absence.

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  3. IndiaFirst Wealth Maximizer Plan

    The IndiaFirst Wealth Maximizer Plan is a unit-linked insurance plan (ULIP) offered by IndiaFirst Life Insurance. It is designed to help high-net-worth individuals like you maximize returns on your savings and create a lasting legacy of wealth for your loved ones.

    Features of IndiaFirst Life Wealth Maximizer Plan:

    • ULIP Investment Plan: You can grow your money by investing in market-linked fund options. 

    • Maturity Benefit: If you survive the policy term, you will receive the fund value accumulated in your policy account.

    • Flexibility to Switch Funds: You can switch between funds free of charge, allowing you to adjust your investment strategy as needed.

    • Systematic Investment Plan: The policy allows you to invest a fixed amount regularly through a monthly, quarterly, or half-yearly premium payment.

    • Loyalty Rewards: You can earn loyalty rewards for staying invested for a longer period.

    • Systematic Partial Withdrawal: You can meet multiple needs through flexible withdrawals after 5 years.

    • Unlimited Free Switches: Optimize your investments with free fund switches.

    • Long-Term Growth: You get Loyalty Benefits, Profit Booster, and Loyalty Advantage to beat inflation for staying invested for longer-term.

    • Top-Up Premium Flexibility: Allows you to manage your increasing needs by paying additional premiums.

    • Tax Benefits: Avail tax benefits on premiums paid and benefits received under Section 80C and Section 10(10D) of the IT Act. 

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Steps to Apply for IndiaFirst ULIP Plan at Policybazaar

You can follow the steps mentioned below to start investing in the IndiaFirst ULIP Plan through Policybazaar:

Step 1. Visit Policybazaar: Head to the official website of Policybazaar or download their app.

Step 2. Select IndiaFirst ULIP Plan: Use the search bar or browse through the ULIP category to find IndiaFirst plans. Compare different plans based on features, benefits, and investment options.

Step 3. Fill in your details: Provide basic information like name, date of birth, contact details, etc. Enter your desired sum assured and policy term.

Step 4. Get quotes and choose a plan: Compare quotes from different IndiaFirst ULIP plans. Choose the plan that best suits your needs and budget.

Step 5. Complete the application form: Fill in the detailed application form with accurate information. Review your details carefully before submitting.

Step 6. Upload documents: Upload scanned copies of required documents like ID proof, address proof, income proof, etc.

Step 7. Pay the premium: Choose your preferred payment method and make the initial premium payment.

Step 8. Medical test (if applicable): Some plans might require a medical test. Policybazaar will guide you through the process.

Step 9. Policy issuance: Once approved, your IndiaFirst ULIP policy will be issued and sent to you. 

To know more about other life insurance plans check at IndiaFirst Life Insurance

IndiaFirst Life ULIP Plans - FAQs

  • What is the return of IndiaFirst ULIP Plan in 10 years?

    The average annualized 10-year returns provided by IndiaFirst Life ULIP plans range between 8% - 18% p.a.
  • Is IndiaFirst ULIP Plan a good plan?

    Whether or not an IndiaFirst ULIP plan is a good plan for you depends on your individual circumstances and financial goals. However, you can refer to the following advantages and disadvantages of investing in a suitable IndiaFirst ULIP plan:
    • Pros:

      • Dual benefit: ULIPs offer the dual benefit of life insurance coverage and market-linked investments. 

      • Potential for high returns: Market-linked ULIPs can potentially provide higher returns than traditional insurance products.

      • Tax benefits on premium payment: Premiums paid towards ULIPs are eligible for tax deductions under Section 80C of the Income Tax Act, 1961.

      • Tax benefits on maturity proceeds: The maturity proceeds are also tax-free under Section 10(10D) of the IT Act, if total premium payment is below Rs. 2.5 lakhs in a year.

    • Cons:

      • ULIP charges: ULIPs levy charges, such as policy administration charges, fund management charges, and mortality charges. These charges can affect your overall returns.

      • Market risk: ULIPs are subject to market risk, which means that your investment may increase or decrease with market fluctuations. 

      • Lock-in period: ULIPs typically have a lock-in period of 5 years, during which you cannot withdraw your money without facing surrender charges.

  • Can I withdraw from the IndiaFirst ULIP Plan after 5 years?

    Yes, you can withdraw your investment from the IndiaFirst ULIP Plan after a 5-year lock-in period through partial withdrawals or surrendering your policy.
  • What are the disadvantages of IndiaFirst ULIP Plan?

    The disadvantages of an IndiaFirst ULIP Plan are mentioned below:
    • ULIP charges like premium allocation charges, mortality fees, and fund management charges.

    • Market risks

    • Lock-in period of 5 years

    • Tax implications

  • How to pay premium? What are the modes of payment available?

    INDIAFIRST Life Insurance offers the following modes of payment for paying premium namely:
    • Online
    • Credit card/Debit Card
    • Electronic Clearing system(ECS)
    • Cash or cheque

    For ECS you must register beforehand by duly signing and submitting the ECS form. This facility is available in select cities only.

    Alternatively, you can drop in cash or cheque at your nearest branch in the city.

  • How can I check policy status for IndiaFirst Life ULIP plans?

    To check the policy status login to your IndiaFirst Account with the designated User ID and password this is directly linked with your policy number. After login in a detailed tab will be displayed this contains all the relevant data related to your policy.
  • What is the policy renewal process for IndiaFirst Life ULIP plans?

    For policy renewal process, login into your account and select the online payment for renewal policy.

    You can also select the ECS or the Auto debit option for paying the premium had you initially signed up for the policy.

    You can approach the nearest branch office and fill in the required forms, attaching the mandatory documents to get the policy renewed.

  • What is the company’s process to settle claim for IndiaFirst Life ULIP plans?

    INDIAFIRST Life Insurancehas a clear and transparent process for settling claims. You must intimate the company about the incident within one week of it occurrence. There are different options available for intimation such as:
    • Online
    • Intimation through our toll free number 1800-209-8700
    • By couriering the details
    • Approaching us via Advisor.
    • Contacting us at any of our branch office.

    A set of documents as listed in the website needs to be submitted to the company. Upon receipt of the same, the claim is settled within15 days’ time period.

  • What is the policy cancellation process for IndiaFirst Life ULIP plans?

    In order to cancel a policy, you can fill in the required form and submit it to the nearest branch office along with the surrender charges as mentioned in the policy.

    For new users, a period of about 15 days is allotted wherein one has the option to surrender the policy in case deemed necessary.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^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.
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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