IndiaFirst Life Endowment Plans
IndiaFirst Endowment Plans, or IndiaFirst Life Endowment Plans, offer a comprehensive solution that perfectly blends life protection and wealth accumulation. These plans are designed to provide robust coverage for your life through their insurance component. In the unfortunate event of your untimely passing, your beneficiaries will receive a significant payout, which ensures their financial security through the death benefits.
One of the major highlights of the endowment plans from IndiaFirst Life Insurance is that they come with dual benefits. If you outlive the policy term, the plan rewards you with more than just the basic coverage. Furthermore, you shall receive survival benefits which include any accumulated bonus and the advantage of long-term capital growth. It means that not only does the plan protect your life but it also helps you build wealth over time.
What are the Features and Benefits of IndiaFirst Endowment Plans?
Listed below are the features and benefits of opting for the endowment plans by IndiaFirst Life Insurance.
- Death & Survival Benefits
One of the key features and benefits of choosing IndiaFirst endowment plans is that they ensure your financial security in two important ways. If something were to happen to you unexpectedly, the plan would provide death benefits to your beneficiaries. On the other hand, if you outlive the policy term, you receive the sum assured as guaranteed maturity benefits. In any of the two options, your money is returned to you, which makes you financially stable.
- Unmatched Better Returns
Another major benefit of choosing endowment plans by IndiaFirst Life Insurance is that they may help you build a future corpus, unlike protection plans. It simply means that you’re not just getting coverage but also working towards growing your savings.
- Flexible Coverage
One of the major highlights of the plans is that they offer both life insurance and savings benefits. Furthermore, you can tailor your plans to your needs by adding riders for things like critical illness, accidental death, and disability. Furthermore, these additional riders come at an extra premium but enhance your policy’s protection.
- Loyalty Additions
Another major benefit of choosing IndiaFirst Endowment Plans is that they can make your plans more rewarding and even come with loyalty additions, bonuses, and guaranteed additions. Furthermore, these extra increase your final payout, so you can get more value from your policy.
- Tax Benefits
Last but not least, IndiaFirst Endowment Plans offer tax benefits in addition to life coverage and life savings. Furthermore, the policyholders can easily benefit from deductions under Section 80C and tax-free maturity proceeds under Section 10(10D) as per current tax regulations.
Top IndiaFirst Endowment Plans
Here are the top IndiaFirst Endowment Plans.
1. IndiaFirst Life “Insurance Khata” Plan (Micro Insurance Product)
The IndiaFirst Life “Insurance Khata” Plan is an easy-to-understand, budget-friendly life insurance and savings plan. Furthermore, it provides financial protection for your family during emergencies and also offers a return on your investment. The major attraction of the plan is that it is simple, affordable, and available for people aged 18 to 45.
| Parameters | Details |
| Age | Minimum Entry Age 18 Years Maximum Entry Age 5 Years Policy Term- 45 Years 7 Years Policy Term- 43 Years 10 Years Policy Term- 40 Years |
| Policy Term | 5/7/10 Years |
| Sum Assured | Rs. 1000- Rs. 2,00,000 |
| Premium Payment Term (PPT) | Single Pay |
Key Features & Benefits:
- Quick Purchase
One of the major highlights of the plan is that it may easily help you get the plan through a simple and quick process designed to be user-friendly and hassle-free.
- Family Financial Shield
It helps the policyholders to protect the future of their loved ones with strong policies that ensure their financial security.
2. IndiaFirst Life Long Guaranteed Income Plan
The IndiaFirst Life Long Guaranteed Income Plan is a non-linked, non-participating, limited premium-amount endowment life insurance policy that offers regular guaranteed income while protecting your family’s future.
| Parameters | Details |
| Age | Minimum Entry Age 8 Years (For Definitive Income Option) 30 Years (For Whole Life Income Option) Maximum Entry Age 50 years (For Definitive Income Option) 60 Years (For Whole Life Income Option) |
| Policy Term & Premium | Minimum Policy Term- 10 Years Premium Payment Term- 5/6/7 Years |
| Premium Payment Frequency | Yearly, half-yearly, quarterly, and monthly |
| Sum assured on death | Minimum- Rs. 4,80,000 Maximum- No Limit |
Key Features & Benefits:
- Short-term Payments, long-term gains
One of the major features and benefits of choosing the plan is that it enables policyholders to make payments over a shorter duration while reaping substantial benefits.
- Guaranteed Income for 20 Years
The plan comes with a “Definitive Income” option that allows you to enhance your lifestyle with a reliable income stream.
3. IndiaFirst Life Mahajeevan Plus Plan
IndiaFirst Life Mahajeevan Plus Plan is a comprehensive money-back endowment plan designed with combined security, savings, and cash flow. Furthermore, it offers a holistic solution for both protection and wealth accumulation.
| Parameters | Details |
| Age | Minimum Entry Age 1 Month for a policy term of 20 years and on the other hand, 3 years for a policy term of 15 years. Maximum Entry Age 55 Years |
| Policy term (PT) | 12 Years |
| Premium Payment Term | 12 Years |
| Sum Assured on Death | Minimum Up to 50 Years- INR 1,20,000 51 to 55 Years- INR 2,40,000 Maximum No Limit |
Key Features & Benefits:
- Long-Term Protection
One of the major features and benefits of the policy is that it protects your family’s future with long-term life insurance coverage options available for up to 15 to 20 years.
- Periodic Money Backs
It enables policyholders to benefit from periodic cash inflows and receive scheduled payouts at the end of the third, seventh, and eleventh policy years.
4. IndiaFirst Life Cash Back Plan
The IndiaFirst Life Cash Back Plan is a money-back policy designed to provide you with guaranteed periodic payouts to address your immediate financial needs while ensuring long-term security with an assured maturity payout.
| Parameters | Details |
| Age | Minimum Entry Age 15 Years Maximum Entry Age
|
| Policy term | 9/12/15 years |
| Minimum Premium Amount | Yearly- Rs. 6,000 Half-Yearly- Rs. 3,071 Quarterly- Rs. 1,554 Monthly- Rs. 522 |
| Sum Assured | Minimum- Rs.50,000 Maximum- No Limit |
Key Features & Benefits:
- Periodic Cashback
One of the major highlights of the plan is that it comes with the advantage of making payments for a limited duration while receiving regular cashback throughout the policy term.
- Flexible Investment Periods
Another major benefit of the plan is that it allows you to customize the plan to fit your financial goals by selecting from investment periods of 9, 12, or 15 years.
5. IndiaFirst Maha Jeevan Plan
The IndiaFirst Maha Jeevan Plan is a comprehensive endowment plan designed to protect your family’s financial future. Furthermore, it offers guaranteed maturity benefits, annual benefits, and flexible life insurance coverage options.
| Parameters | Details |
| Age at Entry | Minimum- 5 Years Maximum- 55 Years |
| Age at Maturity | Minimum- 20 Years Maximum- 70 Years |
| Policy Term | Minimum- 15 Years Maximum- 25 Years |
| Premium Payment Frequency | Monthly, Half-Yearly, Yearly |
Features & Benefits:
- Flexible Payouts
One of the plan’s major highlights is that it enables you to choose payout periods ranging from 15 to 25 years to match your financial objectives.
- Guaranteed Maturity Amount & Bonuses
Another interesting aspect of the plan is that it allows you to receive a guaranteed sum assured at maturity, along with any bonuses that may be declared.
6. IndiaFirst Simple Benefit Plan
The IndiaFirst Life Simple Benefit Plan is a well-rounded financial solution designed to offer a lumpsum payout upon maturity, life coverage, and consistent savings. Furthermore, it features flexible savings options and provides lumpsum payments for key events such as death or maturity.
| Parameters | Details |
| Age | Minimum- 18 Years Maximum- 50 Years |
| Age at Maturity | Minimum- 18 Years Maximum- 70 Years |
| Policy term | 15-25 Years for regular premium |
| Sum Assured | Minimum- Rs. 20,000 Maximum- Rs. 5,00,000 |
Key Features & Benefits:
- Flexible Savings
The plan enables you to save according to your schedule, which makes it easy to build a financial corpus with minimal effort.
- Lump sum benefit at Maturity
Another highlighting aspect of the plan is that you shall receive a lump sum payout at the end of the policy term including any declared bonuses, which provides you with a substantial financial benefit.
7. IndiaFirst Life Guaranteed Monthly Income Plan
The IndiaFirst Life Guaranteed Monthly Income Plan offers a reliable financial solution which provides you with a steady monthly income after completing your premium payment term and any optional gap year.
| Parameters | Details |
| Age at Entry | Minimum- 18 Years Maximum- 50 Years |
| Age at Maturity | Minimum- 34 Years Maximum- 75 Years |
| Premium Payment term |
|
| Sum Assured | Minimum- Rs. 75,000 Maximum- No Limit |
Key Features & Benefits:
- Guaranteed Monthly Income
One of the major features and benefits of the plan is that it enables you to receive a reliable and consistent monthly income right after the premium payment years.
- Bonus Accumulation
Another major highlight of the plan is that it enables policyholders to benefit from additional bonuses earned throughout the policy term if declared.
8. IndiaFirst Life Smart Pay Plan
The IndiaFirst Life Smart Pay Plan is a savings-focused policy designed to help you meet your financial goals. Furthermore, it offers money-back benefits throughout the premium payment method which ensures you receive regular payouts.
| Parameters | Details |
| Age at Entry | Minimum:
Maximum: 50 Years |
| Policy Term | 10 and 15 years |
| Premium Payment term | For a 10-year policy term- 5 Years For 15-Year Policy Term- 5/6/7/8 Years |
| Sum Assured | Minimum: Rs. 1,50,000 Maximum: No Limit |
Key Features & Benefits:
- Flexible-Premium Payment
One of the major features of the plan is that it enables you to make payments over a shorter period that fits your time horizon while still working towards your long-term financial goals.
- Continuous Life Cover
The plan allows you to maintain your life cover benefit even if you miss a premium payment but you should have paid at least two full years of premium.
9. IndiaFirst Life Guaranteed Benefit Plan
The IndiaFirst Life Guaranteed Benefit Plan is designed to provide both savings and financial protection, which may support your loved ones and your aspirations.
| Parameters | Details |
| Age at Entry | Minimum
Maximum
|
| Sum Assured | Minimum: Rs. 5,00,000 Maximum: As per Board Approved Underwriting Policy |
| Premium Payment term | 5/6/7 years under both options |
| Policy Term | For Income Benefit Option: 15/18/21 Years For Lumpsum Benefit Option: 10 to 16 Years |
Key Features & Benefits:
- Future Goals
The plan enables you to choose between Income or lump sum benefit options based on your financial needs and future objectives.
- Customize Plan
The plan allows you to easily customize it to your preference by choosing from four different options under the Income Benefit Category.
10. IndiaFirst Money Balance Plan
The IndiaFirst Money Balance Plan is a Unit-Linked Life Insurance endowment policy that blends the benefits of a Unit-Linked Insurance Plan (ULIP) with comprehensive life coverage.
| Parameters | Details |
| Age at Entry | Minimum- 5 Years Maximum- 65 Years |
| Policy Term |
|
| Premium Payment Term |
|
Key Features & Benefits:
- Flexible-Premium Payment
The plan enables you to choose the right premium payment option that best suits your needs- whether it’s regular payments, a limited period, or a single lumpsum payment.
- Life Cover
One of the interesting aspects of the plan is that it provides financial protection for your loved ones by securing life coverage that protects them in unexpected circumstances.
11. IndiaFirst Smart Save Plan
The IndiaFirst Life Smart Save Plan is designed to be your reliable partner in achieving your financial goals. Furthermore, it combines protection with saving benefits which makes it ideal for planning significant milestones.
| Parameters | Details |
| Age at Entry | Minimum: 5 Years Maximum: 65 Years |
| Policy Term |
|
| Premium Options | Regular/Limited- Monthly, Haf-Yearly, Yearly Single Premium- Onetime Payment Only |
| Payment Premium Term |
|
Key Features & Benefits:
These are as follows:
- Systematic Savings
One of the interesting aspects of the plan is that it accumulates your savings methodically through a fund of options.
- Life Cover
Another major highlight of the plan is that it ensures protection for your loved ones with life cover in the event of the policyholder’s untimely death.
12. IndiaFirst Life Wealth Maximizer Plan
The IndiaFirst Life Wealth Maximizer Plan is an advanced Unit Linked Insurance Plan (ULIP) designed to combat robust life insurance with effective wealth accumulation. Furthermore, the plan offers market-linked returns and provides flexible investment strategies tailored to high-net-worth individuals.
| Parameters | Details |
| Age at Entry | Minimum Entry Age- 5 Years Maximum Entry Age
|
| Policy term |
|
| Premium Payment term | 5/10/15/20 Years or Single Payment |
Key Features & Benefits:
- Multiple Investment Strategies
It enables you to optimize your portfolio by choosing from these distinct ULIP investment strategies, allowing you to customize your investments according to your financial goals.
- Loyalty Rewards
Another major highlight of the plan is that it enables you to receive additional units added to your fund as a reward for staying invested.
13. IndiaFirst Life Radiance Smart Invest Plan
The IndiaFirst Life Radiance Smart Invest Plan is a Unit-Linked Insurance Plan (ULIP) designed to help you build a lasting legacy by integrating wealth growth with comprehensive life coverage.
| Parameters | Details |
| Age at Entry | Minimum For Life Plan Option: 0 Years (91 Days) For Extra Shield & Family Care Plan option: 18 Years Maximum 65 years for all plan options. |
| Premium Payment term (PPT) | Options include regular Pay, Limited pay, and Single Pay
|
| Annualized Premium | Minimum Limited/Regular Pay: Rs. 48,000 Single Pay: Rs. 2,25,000 Maximum: No Limit |
Key Features & Benefits:
- Wealth Accumulation
The plan may enhance your savings with market-linked ULIP fund options, which are designed to help you accumulate wealth.
- Flexible Fund Options
One of the major highlights of the plan is that it enables you to select from ten diverse fund options to customize your investments according to your risk tolerance and financial objectives.
How Does IndiaFirst Endowment Plan Functioning?
Let’s take the example of Mr Anuj Kumar, who decided to purchase the IndiaFirst Life Mahajeevan Plus Plan for 15 years. He decided to pay Rs. 24,000 annually for 12 years. At the end of the policy term, he was guaranteed a maturity sum of Rs. 2,23,040. Over the policy’s duration, he received survival payouts of Rs. 24, 270 at the end of the 3rd, 7th, and 11th years, which is 103% of his annual premium. At age 40, Mr. Kumar was due to receive a final payout which could be Rs. 3,46,647 at an 8% return or Rs. 2,33,040 at a 4% return, depending on the option he selected, including any declared bonuses.
If Mr Kumar had passed away, his family would have received a death benefit of Rs. 4,00,859 at an 8% return or Rs. 3,02,400 at a 4% return.
How to Avail Of IndiaFirst Endowment Plans?
If you are planning to buy an endowment plan from IndiaFirst Life Insurance, follow these steps.
- In the first step, you will need to visit the official website of IndiaFirst Life Insurance. After that, scroll down till you see a blue-coloured section at the footer.
- Under the savings plan section, you will find some endowment plans. Let’s say you want to buy the IndiaFirst Life Mahajeevan Plus Plan. Click on it to open the plan page.
- Then, on the right-hand side, click on “Get a Quote”. The moment you click on it, you will then need to enter your details like name, date of birth, mobile number, and email ID. Then, click on the “Continue” button.
- In the next step, you will need to see the complete details of the amount, sum assured, and policy term as per the details entered by you.
- If you are satisfied with the amount, click on “Benefit Illustration” and after that, you will see a message on the screen “Thank You For Submitting Your Details. Our representatives will call you “shortly”.
Frequently Asked Questions
Listed below are the frequently asked questions related to the IndiaFirst Endowment Plans.
Yes, you can take out a loan against the endowment plans from IndiaFirst Life Insurance.
Yes, you may receive tax benefits on the premiums paid and the benefits received, as per the current Income tax laws.
Yes, you can surrender your policy for immediate cash needs after paying premiums for at least two full years. However, it is generally not recommended unless necessary.
You can switch from one fund to another by changing your premium allocation.
Yes, there is a 30-day grace period for half-yearly and yearly premium payments and a 15-day grace period for monthly payments. However, your plan benefits remain active during the grace period.
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