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Overview
IndiaFirst Life Wealth Maximizer is a unit-linked, non-participating savings insurance plan offered by IndiaFirst Life Insurance. It is designed to provide the dual benefits of investment and insurance coverage. With a minimum entry age of 5 years and a maximum entry age of 65 years, this plan comes with a maturity age of 90 years. For maximum return on investment, this investment plan contains seven different funds to offer investment options for your portfolio.
Key Benefits of IndiaFirst Life Wealth Maximizer Plan
IndiaFirst Life Wealth Maximizer Plan offers a range of benefits, including:
- Option to invest in seven different funds
- Multiple investment strategies
- Loyalty addition and wealth booster benefits
- Unlimited free switches and premium redirection options
- Flexible policy and premium paying term
Key Features
How to Buy IndiaFirst Life Wealth Maximizer Plan on PolicyX.com
- Visit the official website of PolicyX.com.
- Hover over the ‘Life Insurance’ tab.
- Choose the Investment plan you want to buy.
- Fill out the form at the top of the page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Benefits of the IndiaFirst Life Wealth Maximizer Plan
There are various benefits to buying the IndiaFirst Life Wealth Maximizer Plan. Let’s understand each of them in detail:
- Maturity Benefits: At maturity, the policyholder will receive the fund's value, including top-up and all additions to date.
- Loyalty Additions: After the sixth policy year commences, this plan starts adding loyalty to your investment.
- Profit Booster: A profit booster is added at the end of every 5th policy year, starting from the end of the 10th policy year.
- Tax Benefits: Increase your savings by claiming the tax benefits applicable as per the Income Tax Laws 1961.
Additional Features
Partial Withdrawal
Partial withdrawal starts from Rs. 10,000 up to 25% of the fund value after completing the 5th policy anniversary.
Switching
Multiple switches are allowed, starting from Rs. 5,000 with no upper limit, between funds for the whole policy tenure.
Grace Period
The Wealth Maximizer Plan offers a grace period of 15 days for monthly premium payments and 30 days for quarterly, half-yearly, and yearly payments. This allows you to pay missed premiums without heavy charges.
Free-Look Period
The Wealth Maximizer Plan offers a 15-day free-look period to policyholders to review the terms and conditions. Policyholders can also cancel their policy within this free-look period.
How to Buy IndiaFirst Life Wealth Maximizer Plan on IndiaFirst Life Insurance Website
- Visit the official website of IndiaFirst Life Insurance.
- Hover over 'Life Insurance Plans' from the top of the menu.
- Click on the IndiaFirst Life Wealth Maximizer Plan.
- Click on ‘Buy Now’ and you will be redirected to a new page.
- Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
- Once discussed, you can make the premium payment and get the policy documents.
Exclusions
- Suicide within 12 months of the policy purchase is not covered.
- Consumption of any intoxicants.
- Death due to any aviation accident.
- Death due to any adventurous sports.
Documents Required to Buy IndiaFirst Life Wealth Maximizer Plan
Here is the list of documents required to buy the IndiaFirst Life Wealth Maximizer Plan:
- Photo ID Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
- Age Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
- Address Proof: Any one of the following: Utility bill, passport, voter ID, ration card.
- Medical Records: Medical records of the policyholder, if requested.
- Income Proof: Any one of the following: Bank statement, last three months' salary slips (if salaried).
Plan at a Glance
| What’s Good Here | What’s Missing |
|---|---|
| Switching or Redirecting Premiums | Guaranteed Additions |
| Life Cover | Premium Offset |
| Choice of 7 Fund Options | Whole Life Cover |
| Flexibility to withdraw funds partially | No Auto Cover Continuance |
