IndiaFirst Smart Save Plan – Overview

IndiaFirst Smart Save Plan is a non-participating, unit linked savings insurance plan that helps one save for the future to realise dreams. It offers the dual benefit of security through a life insurance cover and wealth accumulation through market linked investments. The plan enables systematic savings with the goal of generating wealth by investing savings in a choice of 4 funds across different asset classes based on one’s risk appetite. This unit linked endowment insurance plan allows one to make the most of one’s investments by switching and redirecting premium from one fund to another.

Read more
Best Investment Plans
  • Guaranteed Tax Savings

    Under sec 80C & 10(10D)
  • ₹ 1 Crore

    Invest 10k Per Month*
  • Zero LTCG Tax

    Unlike 10% in Mutual Funds

*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
Top performing plans with High Returns*
Invest ₹10K/month & Get ₹1 Crore returns*
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated
58.9 million
Registered Consumers
26.4 million

IndiaFirst Smart Save Plan - Key Features

  • Unit Linked Insurance Plan: It offers the benefit of life insurance and investment in a single integrated plan. A part of the premium goes towards providing a protection cover and the rest is invested in market-linked investment funds. This life insurance product helps fulfil long-term financial goals and offers the benefit of rupee cost averaging due to its long-term nature. A ULIP plan has the added advantage of flexibility and transparency.
  • Life Insurance Cover: The plan offers a life cover which helps secure the future of the family in case of the life assured’s untimely death. The Death Benefit is paid to the nominee/ appointee or the legal heir.
  • Systematic Savings: The plan helps instil the discipline of investing at regular intervals in various funds to meet long-term goals
  • Choice of Investment Funds:The plan gives the option of investing in 4 funds across different asset classes. It allows one to choose the proportion of investment in each of these funds based on one’s risk appetite.
    • Equity1 Fund: The asset allocation in this fund is skewed towards equities, hence it has a high risk profile. It offers a high rate of return in the long term.
    • Balanced1 Fund: The asset allocation of this fund is balanced across different asset classes, namely, equities, debt and money market instruments. It has a medium risk profile and gives returns that exceed the rate of inflation in the long term.
    • Debt Fund: The asset allocation in this fund is skewed towards debt. The fund has a medium risk profile and provides investment returns that exceed the rate of inflation in the long term.
    • Value Fund: This fund invests more in equities, especially those which are relatively undervalued and possess a high growth potential. It has a high risk profile and offers moderate to high real rate of return in the long term.
  • Partial Withdrawal: The plan allows partial withdrawal of funds after 5 policy years to meet liquidity requirements in case of a financial emergency. This can be done once the life assured has turned 18. There are no partial withdrawal charges.
  • Fund Switching: This plan allows transfer or switching of some or all units from one unit linked fund to another. Switching is not permitted if the age of the life assured is less than 18 years. Switches are free of charge and one is allowed 2 switches in a calendar month.
  • Premium Redirection: This feature allows redirecting future investments into a different fund or set of funds. Premium redirection lets one adapt to change in personal circumstances and/ or market conditions.
  • Protection of Investments from Market Fluctuations: The plan offers a feature where one’s investments can be insulated from market fluctuations by transferring funds into a Liquid1 Fund during the last 3 policy years. The risk profile of the Liquid1 Fund is low as it primarily invests in money market instruments. If opted for, 3% of the investments in each fund are automatically transferred to the Liquid1 Fund in each of the last 36 monthly anniversaries. The proportionate allocation of remaining funds does not change on transfer to the Liquid1 Fund. 

IndiaFirst Smart Save Plan - Benefits

Death Benefit: In the event of the passing away of the life assured during the tenure of the policy, provided the plan is in force and all due premiums have been paid, the Death Benefit is paid to the nominee/ appointee/ legal heir (as applicable). 

The Death Benefit is higher of the following:

  • Sum Assured
  • Fund Value as on the date of receipt of intimation of death of the life assured 

The minimum Death Benefit is at least 105% of the total premiums paid till the date of death of the life assured.

Maturity Benefit: At the end of the plan term, provided the life assured is alive and the plan is in force and all insurance premiums have been paid, the Fund Value is paid as the Maturity Benefit

Tax Benefits: Tax deductions are applicable on the premiums paid under Section 80C of the Income Tax Act, 1961. One can also avail tax benefits on the Death Benefit, maturity amount and withdrawal amounts under Section 10(10D) of the Income Tax Act, 1961.

IndiaFirst Smart Save Plan - Product Specifications




Entry Age (last birthday)

5 years

65 years

Maturity Age (last birthday)

18 years

75 years

Policy Term

  • Regular premium: 10, 15, 20 and 25 years
  • Limited premium: 10, 15, 20 and 25 years
  • Single premium: 5, 10, 15, and 20 years

Sum Assured

If entry age is less than 45 years:

  • Regular premium: Higher of:
  • 10 x Annualised Premium
  • 0.5 x Policy Term x Annualised Premium
    • Single premium: 125% of single premium


If entry age is 45 years or above:

  • Regular premium: Higher of:
  • 7 x Annualised Premium
  • 0.25 x Policy Term x Annualised Premium
    • Single premium: 110% of single premium

‘X’ times the annualised/ single premium for regular, limited and single premium plans as per the below-mentioned table.


Entry Age




Till 44 yrs




45-50 yrs




51-55 yrs




56-60 yrs




61-65 yrs





Premium Payment Term

  • Regular premium: 10, 15, 20 and 25 years
  • Limited premium: 7 years
  • Single premium: one-time payment

Premium Payment Mode

  • Regular premium: Monthly, half-yearly, yearly
  • Limited premium: Monthly, half-yearly, yearly
  • Single premium: One-time payment only

Annual Premium Amount

  • Regular premium: Rs. 12,000
  • Limited premium: Rs. 15,000
  • Single premium: Rs. 45,000

Rs. 2,50,000

IndiaFirst Smart Save Plan - Policy Details

Grace Period: 15 days grace period is allowed for monthly mode and 30 days for other modes of premium payment after which policy lapses

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.


  • Unlimited free Partial withdrawals are allowed every year after 5 completed policy years with a minimum value of Rs.5,000
  • 2 free Switches are allowed every month for switching between funds with a minimum value of Rs.5000
  • Premium Redirection is allowed to redirect future premiums


The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.

You may also like to read: IndiaFirst ULIP Plans

Ulip Insurer2
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Ulip Insurer4
Ulip Insurer1

Ulip plans articles

Recent Articles
Popular Articles
Tata AIA ULIP Plan Calculator

07 Feb 2023

A Tata AIA ULIP Plan Calculator is a premium and returns
Read more
Difference between ULIP and Traditional Plans

03 Feb 2023

ULIP or Unit Linked Insurance Plan offers two options to a
Read more
How are ULIPs Surviving in the World of Mutual Funds?

31 Jan 2023

Often, investors get confused while comparing mutual funds with
Read more
How ULIP can build a Good Retirement Corpus

31 Jan 2023

Retirement planning becomes the primary concern of an employee
Read more
ULIP Vs. Fixed Deposit: Which is Better and Why?

31 Jan 2023

A Fixed deposit is the preferred saving option of many as it
Read more
ULIP Calculator
A ULIP calculator is a specifically developed tool which helps the insurance buyers to calculate the premium
Read more
ULIP Fund Returns
ULIP or Unit Linked Insurance plan  provides a combined benefit of investment and life cover. According to the
Read more
7 Things to Know About the Tax Benefits of ULIPs
Nowadays, Unit Linked Insurance Plans, i.e., ULIPs, have evolved as the popular income tax saving investment
Read more
SBI Life Smart Privilege Plan - All You Need to Know About Benefits & Features
One of the most trusted life insurance companies in India, SBI Life has recently come up with a new SBI Life
Read more
11 ULIP Charges You Should Know About
Unit-Linked Insurance plan (ULIP) offers dual benefits of insurance and investment. Unlike traditional insurance
Read more

  • Zero% commission
  • No hidden charges
  • Expert Advice
  • 100% calls recorded
Invest ₹10k/month Get ₹1Cr
Tax free on maturity*
Mobile +91
*T&C Applied.
Download the Policybazaar app
to manage all your insurance needs.