- Payouts from 3rd year to help meet financial goals
- Guaranteed additions on investment
- Tax benefits for policyholder, security for next of kin
New Delhi, 10th June 2015: Catering to the need for secure, regular payouts to meet mid to long term goals, IndiaFirst Life Insurance has launched its IndiaFirst Cash Back Plan to help its customers gain big joys with small savings.
With the IndiaFirst Cash Back Plan, customers can start investing with as low as INR 522 a month and see their money grow steadily.
Announcing the new plan, Ms. R M Vishakha, Managing Director and CEO, IndiaFirst Life Insurance said: “Small or big – we all have goals in life; to go somewhere, to become somebody, to achieve something. These goals depend on multiple factors like our age, family responsibilities, income and aspirations at different stages of our life. A cash back plan helps you achieve these aspirations across various milestones in your life while protecting your family all the way.”
The key feature of the plan is that the customer can enjoy long term investment benefits even after paying for a limited period only, proving it to be a customer friendly product. The customer will reap the benefits in regular intervals and hence one can plan for their personal goals like home, marriage, child’s education, personal expenses and retirement & healthcare expenses etc., with the help of the IndiaFirst Cash Back Plan.
Mr. Rushabh Gandhi, Director – Sales & Marketing, IndiaFirst Life Insurance said “Different customer segments need different products at various stages of life. Our IndiaFirst Cash Back Plan is in line with our philosophy of mapping products to customer needs. We are sure this plan will help our customers fulfill their mid to long term goals by on one end pushing them towards systematic saving and on the other end assuring them of guaranteed returns at regular intervals.”
Keeping customer requirements in mind, the plan offers customers the choice of paying their premium quarterly, half yearly and annually. The plan also comes with tax benefits on the premium as well as the benefits.
Here is an illustration that shows how the plan works:
|Term of the Product||Premium Payment Term||Min age of entry attained||Maximum age of entry attained||Guaranteed additions as % of annualized premium at every plan year end||Payout|
|9 years||5 years||15 years||45 years||5% of Annualized Premium||20% of Sum Assured on 3rd and 6th year (survival) and 60% of Sum Assured + Guaranteed Additions* on 9th
|12 years||7 years||50 years||6% of Annualized Premium||20% of Sum Assured on 4th and 8th year (survival) and 60% of Sum Assured + Guaranteed Additions* on 12th
|15 years||10 years||55 years||7% of Annualized Premium||20% of Sum Assured on 5th and 10th year (survival) and 60% of Sum Assured + Guaranteed Additions* on 15th