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The IndiaFirst Life Online Term Plan is a non-linked, non-participating term plan that guarantees financial stability even in unfortunate circumstances. It is a pure protection plan that a customer may purchase for the well-being of the family. The individual may be a victim of accidental death or disability. This plan can be directly bought online and has 8 coverage options for the customers.
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The table below shows the eligibility criteria of IndiaFirst Life Online Term Plan:
|
Parameters |
Details |
|
|
Minimum |
Maximum |
|
|
Policy Tenure |
5 years |
40 years |
|
Premium Paying Term |
Single (lump sum) |
Regular (monthly, quarterly, annual, or semi-annual) |
|
Sum Assured |
Rs 10 lakh |
Rs 50 crore |
|
Premium Payment Frequency |
Single – One Time payment as a lump sum amount Regular – Monthly, Quarterly, Annually, or Semi-Annually |
|
Let us take a brief understanding of the features offered under the IndiaFirst Life Online Term Plan:
Next, let us take a brief understanding of the benefits of IndiaFirst Life Online Term Plan:
The following are the coverage options:
The policyholder is protected from rising inflation every year as they can enhance their coverage by 5% at the end of each financial year. This provides them with the means to combat the effects of inflation and ensures financial stability even in economically troubling situations.
This guarantees the policyholder of IndiaFirst Life Online Term Plan a single time, lump sum amount if he is diagnosed with a critical disease. It should, however, be a confirmatory diagnosis.
The Accidental Shield Benefit Option ensures that an additional amount is made payable to the policyholder in case of death because of an accident. This amount is exclusive of the sum assured that the beneficiaries will receive.
Similarly, the Disability Shield Benefit ensures that an additional amount is made payable to the policyholder in case of disability. The disability can be due to an accident and so forth.
The policyholders of IndiaFirst Life Online Term Plan may avail of long-term benefits by choosing this option. It ensures monthly instalments to meet the costs of medication and treatment of degenerative diseases like Multiple Sclerosis.
This option guarantees coverage against untimely death due to the viral infection COVID-19.
The plan also offers tax benefits as per the current governmental regulations.
Note: Tax benefit is subject to changes in tax laws. Standard T&C apply.
Listed below are the documents required to purchase IndiaFirst Life Online Term Plan:
The customer will need to undertake the following steps to buy IndiaFirst Life Online Term Plan Online:
The exclusion for the IndiaFirst Life Online Term Plan is mentioned below:
If a policyholder commits suicide within 12 months of the beginning of the policy, he will be automatically excluded from the policy.
If the disability is caused due to unnatural events, such as alcohol abuse, indulging in dangerous sports that might be life-threatening, self-injury, etc., the policyholder will be excluded from the policy.
If the terminal illness is proved to be caused by circumstances such as drug abuse, self-injury, congenital abnormalities, etc., the policyholder will be excluded.
†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
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