IndiaFirst Life launches Guaranteed Protection Plan – Term insurance with 7 coverage options: Check benefits

By: |
October 13, 2020 4:25 PM

This term insurance policy has been designed to provide financial support in case of Accidental Total Permanent Disability, Critical Illness, Death and Accidental Death, Degenerative Diseases or Terminal Illness.

Saral Jeevan Bima, Standard term life insurance plan, guidelines, features, premium, sum assured, irdaiThe regulator felt it necessary to introduce a standard, individual term life insurance product, with simple features and standard terms and conditions.

IndiaFirst Life Insurance Company has announced the launch of IndiaFirst Life Guaranteed Protection Plan. This non-linked, non-participating, term insurance policy is designed to secure the certainties of life by promising a financially secured and fulfilled future.

IndiaFirst Life Guaranteed Protection Plan is a comprehensive product offering seven plan options. One can select any of the options as per their requirement. This term insurance policy has been specifically designed to provide the much-needed financial support in case of Accidental Total Permanent Disability (ATPD), Critical Illness (CI), Death and Accidental Death (ADB), Degenerative Diseases or Terminal Illness (TI) for the insured and their loved ones.

Additionally, the insured can choose to receive benefits of this policy in the form of a lump sum or lumpsum & level / increasing income as per the chosen payout option.

The plan provides flexibility to enhance the life cover without additional underwriting on certain life stage events like Marriage, taking a Home Loan or Birth/ legal adoption of a child. With Life Plus option, sum assured increases on a yearly basis to ensure you are adequately protected considering rising financial needs due to inflation. Individuals may also avail tax benefits, on the premiums paid and benefits received, as per prevailing Income Tax Laws.

IndiaFirst Life offers a diversified suite of 39 need-based (products & riders) offerings catering to varied customer segments, leveraging multiple distribution capabilities and augmenting various investment options. The company services its customers in over 98% pin-codes across the country.

Key Highlights

• Tailor this term insurance plan to suit your safety needs from seven different coverage options that provide high life cover at an affordable cost

• Financial protection against death due to COVID-19

• Cover available for whole life till the age of 99 years by paying premiums for only a short duration

• Financial protection against Accidental Death, Accidental Total Permanent Disability or up to 40 Critical Illnesses with Incidence Coverage Option

• Get 2-in-1 Benefit of Guaranteed Retired Life Income & Life Cover throughout the policy term with Dual Protect Option

• Refund of premiums at the end of policy term through Return of Premium option

• Waiver of Premium benefit, to ensure policy continuity in case of covered contingencies

• Option to provide coverage to your spouse as well under a single policy

• In-built Protection against Terminal Illness

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