IndiaFirst Life e-term Plan is a non-linked, non-participating, term insurance policy that is created for enhancing the financial security of the policyholder’s needs in some unexpected and unfortunate events. The insurance cover works towards providing the individual with financial aids in emergency needs.
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Note: Know more about what is term insurance first before reading this article.
IndiaFirst e-Term Plan brochure has a plan for each and every need of the customer. The customer can choose one of the plans that suit them. There are certain eligibility requirements before one buys this plan. The eligibilities for the IndiaFirst e-Term Plan is discussed in the table below:
Parameter |
Conditions |
Minimum Age on Entry (as on last birthday) |
· 18 years; for options except for Income Replacement Benefit. · 20 years; for Income Replacement Benefit |
Maximum Age on Entry (as on last birthday) |
· 55 years; for options except for Income Replacement Benefit. · 50 years; for Income Replacement Benefit |
Premium (INR) Maximum |
No limit subject to board approved underwriting policy. |
Premium (INR) Minimum |
· Yearly – 3,000 · Half Yearly – 1,536 · Quarterly – 77 · Monthly – 261 · Single – 15,000 |
Policy Term (Minimum) |
· 10 years; for all the options other than Income Replacement Benefit. · 60 Years minus Age at entry; for Income Replacement subject to a minimum of 10 years. |
Policy Term (Maximum) |
· 40 years; for all the options other than Income Replacement Benefit. · 60 Years; for Income Replacement Benefit subject to a maximum of 40 years. |
Premium Payment Option |
Regular, Limited and Single Pay |
Premium Payment Mode |
Monthly, Quarterly, Half-Yearly, and Yearly(Half-Yearly and Quarterly pay are not applicable for online payment options). |
Basic Sum Assured |
The Basic Sum Assured by IndiaFirst is as follows: Minimum: Rs.1,00,000/- Maximum: Rs.50,00,000/-
The above-mentioned are the minimum and maximum sum assured amounts. |
Premium |
The premium of a policy depends on the sum assured amount that the customer chooses. The premium of a policy depends on the Age, Gender and health issues of the policyholder. There is no limit on the maximum premium, but it will vary according to the sum assured amount that is promised by the policy upon maturity. |
The IndiaFirst Term Insurance Plan provides many features that are convenient and attractive for the policyholder. The features of the plan as discussed on the IndiaFirst e-Term Plan brochure are listed below:
The plans provided by the IndiaFirst e-term life Insurance provide a complete financial benefit to the customer and their family at an affordable premium amount. Thus, low premium and high sum assured.
IndiaFirst e-Term Plan brochure provides information about 8 different coverage options. Thus, the customer can choose a plan that suits their needs. A wide range of choice is also one of the key features of this plan.
IndiaFirst e-Term Plan brochure discusses the flexibility of choosing the mode of receiving a sum assured amount upon death benefits. The policyholder can either receive the death benefit amount as a lump sum or as a monthly income.
The sum assured amount can be enhanced in several important milestones of life like – Marriage, Home Loan, ChildBirth, Child Adoption etc. An additional percentage of the amount is added to the existing sum assured amount during each stage from the above.
The IndiaFirst e-Term Plan provides tax benefits under section 80C of the Income Tax Act, 1961.
*Standard T&C Apply
*Tax benefits are subject to change as per tax laws
There are several benefits in choosing the IndiaFirst plan among all the others. Details of some of the highlighted benefits as discussed in the IndiaFirst e-Term Plan brochure are given below:
Life Benefit provides a payment of 100% of the sum assured as a lump sum at the time of unfortunate death of the policyholder. The nominee receives the amount and the policy gets terminated. No other premium will be collected from the policyholder’s nominee.
Income Benefit provides a payment of 10% of the sum assured right after the death of the policyholder and the remaining 90% of the sum assured will be paid to the nominee of the policyholder as a monthly income over a period of time.
Income Plus Benefit is different from all of the above-mentioned policies. This benefit provides a 100% of sum assured amount upon the death of the policyholder and an additional 100% of the sum assured amount will be paid out to the policyholder’s nominee as a monthly income over the period of time (as chosen - 5 or 10 or 15 or 20 years).
Income Replacement Benefit option offers the replacement of income of the life assured. This option provides a replacement of the policyholder's salary upon death till the end of the policy term subjected to (as the years chosen).
This benefit comes into act upon the death of the policyholder due to accidents. If an accidental death happens, then the policyholder’s nominee gets 100% of the sum assured amount and an additional amount will be given along with the sum assured amount. This additional amount can be as high as 1 Crore.
If a policyholder falls into total permanent disability due to accidents within the policy termination date, 100% of the sum assured amount will be provided to the policyholder. They can get it either as a lump sum amount or they can receive it as a monthly Income. No more premiums will be collected from the policyholder and the policy is terminated.
Upon diagnosis of any critical illnesses of the policyholder, then they can get 100% of the total sum assured amount as a lump sum or as a monthly income for the chosen policy term period (5 or 10 or 15 or 20 years).
Customers can easily purchase the plan on the IndiaFirst website.
Step 1: The plan details are available and the interested candidates can go through them.
Step 2: There is an option to “Get Quote”
Step 3: A form opens and the individuals need to fill in their date of birth, gender, and information about their smoking habits.
Step 4: It will then ask for sum assured and policy tenure in years.
Step 5: It will then provide a premium estimate.
Step 6: If the customer finds it right, he can go ahead and buy the plan.
Documents that are required for buying the IndiaFirst plan as mentioned in the IndiaFirst e-Term Plan brochure are listed below:
Some of the additional features of the plan as mentioned in the IndiaFirst e-Term Plan brochure are given below:
An idea of the increase in sum assured amount upon several milestones in the life of the policyholder are given below:
If the policyholder is unable to cope up with the premium payment, then they can reduce the sum assured amount which eventually reduces the premium amount as per the affordability of the customer.
There are several terms and conditions mentioned in the IndiaFirst e-Term Plan brochure. Some of them are given below:
The policyholder is given a grace period for paying their premium amount. A grace period of 15 days is provided for the monthly premium payment option and a grace period of 30 days is provided for other payment options. (Yearly, Half Yearly, Quarterly).
If the policyholder can’t pay the due amount even after the grace period, then the policy gets lapsed. The lapsed policy can be revived within 5 years from the first unpaid premium date.
Like any other policy, IndiaFirst e-Term Plan has several exclusions. The exclusions of the insurance as discussed on the IndiaFirst e-Term Plan brochure are given below:
Upon suicide of the policyholder within 12 months from the date of commencement or revival of the policy, then the nominee of the policyholder can get 80% of the total premiums paid and cannot enjoy the sum assured amount benefit.
The accidental death exclusions are:
Under all the above-mentioned circumstances, the policyholder’s nominee cannot enjoy the sum assured amount.
The following are the accidental total permanent disability exclusions:
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
†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. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.