Online Term Insurance Plan – IndiaFirst Anytime Plan

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Online Term Insurance Plan – IndiaFirst Anytime Plan

Term insurance plans offer a higher life insurance cover at a lower fixed premium. A term plan can typically provide an insurance cover till 75 years of age. A term plan is a must to complete an individual’s financial plan and is used mainly to provide cover for financial needs of the insured and his family. For e.g. a term plan can be used by the family to pay up responsibilities like home loan or education of kids in case of an unfortunate demise of the insured

IndiaFirst Anytime Plan is an online term plan that offers a higher sum insured of upto Rs 49 lakhs at a lower premium and ensures that the family of the insured is taken care of, even in his/her absence. In this plan, the sum assured is paid to the beneficiary in case of the unfortunate death of the life assured. IndiaFirst Anytime Plan provides the life assured the benefits of a life cover for a period of up to 30 years at a reasonable premium amount anytime and anywhere by directly visiting the IndiaFirst LifeStore.

Key Features of IndiaFirst Anytime Plan

A term insurance cover for a maximum term of up to 30 years at a reasonable price
The customer can now get the life insurance cover through IndiaFirst Life Insurance website
The family of the life assured is financially secured, as they get a lump sum amount immediately, in case of the an unfortunate death of the assured
The applicant can choose a minimum life cover of Rs. 10,00,000 and a maximum cover of Rs. 49,00,000
Premium amount can be paid in monthly, six monthly, yearly or lump sum as a single premium for the whole term
Under Section 80C, the policyholder you can enjoy tax benefits on the premium that is invested.
The life assured’s family also gets a tax benefits on the amount they receive as a claim under Section 10(10D)

Policy Term options available under the above mentioned online term insurance plan

Regular premium	Single premium
5 to 30 years	5 to 30 years

Are maturity benefits available under term insurance plan?

Since IndiaFirst Anytime Plan is a pure term insurance plan, there are no maturity benefits available under it.

Calculate premium for IndiaFirst Anytime Plan

To calculate premium for the term insurance plan, refer the chart given below:

The term insurance premium is primarily dependent on age of the policyholder at the time of application, the sum assured and the term of the plan. For example, for a sum assured of Rs. 30 lakhs, a policyholder will have to pay the following regular insurance premium

Premium table for IndiaFirst Anytime Plan:

Age and Term	5	10	15	20	25	30
	5	10	15	20	25	30

30	3,472	3,472	3,675	4,012	4,416	4,888

35	4,180	4,416	4,922	5,630	6,338	7,045

40	5,832	6,405	7,416	8,529	9,675	10,787

45	8,461	9,843	11,495	13,214	15,001	-

50	13,517	15,574	18,068	20,832	-	-

55	20,562	23,967	28,147	-	-	-

The mode of premium payment and the premium payment frequency will also impact the premium amount. Following are the premium frequency factors for monthly and six-monthly that will apply to the annual premium amount.