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IndiaFirst Simple Benefit plan is a participating non linked insurance plan which offers the benefit of insurance plus savings. The plan will ensure the cash flows to your family when needed the most.BUY NOW
The guaranteed sum assured on maturity plus the simple reversionary bonus and terminal bonus, if any is paid at the end of the plan term.
The simple reversionary bonus, if any, will be announced by us at the end of the financial year. The rate of the simple reversionary bonus may vary from time to time.
The policy can help you in getting a loan amount up to 90% of the available surrender value.The minimum loan amount should be ` 1,000.
The amount payable on surrender will be higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
Premiums paid, are eligible for the tax benefits as per Section 80C and the death benefit qualify for tax benefits under section 10 (10D) of the Income Tax Act.
|Age (as on last birthday)||18 Years||50 Years|
|Age at Maturity||-||70 Years|
|Policy Tenure||15 Years||25 Years|
|Premium Paying Term||Regular Pay||-|
|Premium Paying Mode||Annually,half Yearly And Monthly||-|
|Sum Assured||Rs 20,000||Rs 5 Lacs|
|Freelook Period||15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy||-|
|Grace Period||30 Days / 15 Days For Monthly Mode||-|
No Rider is available under the plan.
Let us understand with the help of an illustration for the plan
Policy Holder: Ramesh, 25 years
Policy Term: 15 years
Sum Assured: Rs 3,44,180
Premium: Rs 20,000 per annum
Higher of (Guaranteed Sum Assured on maturity or 10 times Annualized Premium) + Accrued Bonus till death.
Lump Sum Amount payable at the end of the Plan Term: `3,44,180 (Sum Assured as mentioned in the above table) + Bonus (Simple Reversionary Bonus + Terminal Bonus, if any)