IndiaFirst Pension Plans

IndiaFirst Pension Plans
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About IndiaFirst Life Insurance Company

IndiaFirst Life Insurance is a renowned name in the life insurance industry. It is a joint venture between Bank of Baroda, Andhra Bank and UK's financial and investment company Legal & General. The company was founded in 2009 and has its headquarter in Mumbai. The company is offering multiple life insurance products starting from pension plans, life insurance, child insurance, savings plans and much more to cater to the different needs of customers. The company carries a good claim settlement ratio and has already spread its wings all over India.

The company aims for delivering the best products to its customers by taking all their needs in mind that why the company is offering Protection, Assured Savings, Wealth, Pension, Health and Group Funds for Employee Liabilities plans.

  • Claim Ratio: The company is carrying a decent claim ratio of 89.93 percent.
  • Customer Assistance: To assist customers with all their queries the company has come out with 24*7 customer support service.
  • Awards: The company has received many awards for its great performance over the years.
IndiaFirst Pension Plans

Statistics

HeadquartersMumbai
Business LineLife Insurance
Claim Ratio89.83%

IndiaFirst Pension Plans In India

To deal with the needs of the growing age, the company has come out with multiple pension products. Below is the list of IndiaFirst Insurance Pension Plans:-

1. IndiaFirst Pension Plan: Guaranteed Retirement Plan

This pension plan allows you to live your life on your terms. It is a guaranteed financial protection plan for your post-retirement days. With this plan, you will get guaranteed returns for the initial years. This plan provides the opportunity to further build corpus through the bonus. There will be multiple options to invest at your own pace - regular, limited or single premiums. Along with the protection for your retirement days, this pension plan will also offer tax benefits under section 10 (10A) of the Income Tax Act.

Key Features of IndiaFirst Guaranteed Retirement Plan

  • Peace of Mind: With the protection and saving features for your post fitment days, you will have peace of mind for sure that your retirement is secured.
  • Death Benefit: This pension plan also offers death benefits and that too a tax-free benefit under section 10 D of the Income Tax Act.
  • Maximize: With this pension plan you will get the opportunity to maximize your retirement pool, up to a term of 40 years.
  • Consistent Growth: This plan allows you to stay ahead of inflation with the constantly growing retirement corpus and bonus.

Eligibility of IndiaFirst Guaranteed Retirement Plan

Entry Age25 - 80 years
Premium Payment ModeRegular, limited and single
Premium FrequencyMonthly, quarterly and Half Yearly
Sum Assured500000- minimum

2. IndiaFirst Pension Plan: Immediate Annuity Plan

IndiaFirst Immediate Annuity Plan is a form of pension plan that allows you to maintain the choice of lifestyle even after retirement. This plan will assist you to deal with healthcare costs and staying ahead of inflation. The retirement allows you to choose any retirement age between 40 to 80 years. It carries a joint-life option through which you can provide the needful support to your spouse with the help of annuity even in your absence as well.

Key Features of IndiaFirst Retirement Plan: Immediate Annuity Plan

  • Flexibility to Choose Retirement Age: This plan allows the insured to choose any retirement age between 40 to 80 years.
  • Joint Life Option: This is a pension plan that offers the joint-life option to support your spouse with the help of annuity proceeds in case of your absence as well.
  • Return of Purchase Price: Under this plan, you have the facility to choose the return of the purchase price option to protect your nominees as they can get back the investment amount.
  • Different Annuity Options: There are 4 different annuity options to choose from a life annuity, life annuity with return of purchase price, joint life last survivor annuity for life and annuity certain for 5 years/ 10 years/ 15 years.

Eligibility of IndiaFirst Retirement Plan: Immediate Annuity Plan

Entry Age18 - 80 years
Minimum Annuity InstallmentRs.1000
Minimum PremiumRs. 3,00,000
Annuity Installment Frequencymonthly, quarterly, half-yearly, and annually

3. IndiaFirst Life Pension Plan: Guaranteed Annuity Plan

This IndiaFirst Pension plan is designed to offer assured regular income throughout the lifetime. This plan will help you to deal with the healthcare costs and allows you to stay ahead of inflation throughout your post-retirement days. This plan allows you to support your loved ones even in your absence as well. With this pension plan, you will stay protected from critical illness.

Key Features of IndiaFirst Retirement Plan: Guaranteed Annuity Plan

  • Lifetime Income: This pension plan by IndiaFirst Insurance Company offers assured lifetime regular income as you select from 12 different annuity options as per your need.
  • Return of Purchase Price: The plan offers Return of Purchase Price facility with options like Life Annuity, Joint Life Last Survivor Annuity, Deferred Life Annuity, Escalating Life Annuity to protect your nominee(s).
  • Support Your Loved Ones: With this plan, you will be able to support your loved ones during hard times such as in the case of your absence.
  • Receive Annuity For A Pre-decided Period: with this plan, you can receive your annuity amount for a pre-decided period irrespective of an unfortunate event and life thereafter.

Eligibility of IndiaFirst Retirement Plan: Guaranteed Annuity Plan

Entry Age40 - 80 years
Minimum PremiumRs. 100000
Minimum AnnuityRs. 1000
Annuity Options12

Why IndiaFirst Life Insurance Pension Plans?

IndiaFirst Life Insurance is a renowned name in the life insurance industry. IndiaFirst Life Pension Plans is a kind of gift for retirees to have a secured retirement. All retirement plans by IndiaFirst Life Insurance Company is offering multiple life insurance products to deal with various needs of customers. Out of all, pension plans seem to be on the top of the list. IndiaFirst Life Insurance Pension Plans is carrying all the required features that it should be. All such features make it quite worthy of adding in your investment portfolio. IndiaFirst Retirement plans are designed in a way to offer the much-required comfort for your post-retirement life. IT allows you to have an enjoyable retirement with the required funds to deal with all expenses and liabilities as well. The company is running a successful business and can be trusted easily for your pension plan purchase.

Why Do You Need a Pension Plan?

With the growing age and the inflation rate, it is becoming quite hard to deal with all expenses and living a stable and independent life during post-retirement days. Apart from this, healthcare cost is rising and people can't rely on their savings only to deal with any medical emergency. And during post-retirement days when there will be no income, how will you manage the same. that's why it is important to invest in a pension plan so that we can have a regular income in hand to deal with all liabilities, expenses and medical emergencies during post-retirement days. As IndiaFirst Insurance is offering multiple products, it becomes easier for you to choose the best pension plan out of all the available options.

FAQs

Fund Value is the total number of units under the funds and the corresponding NAVs.

It is the period between the date of subscription to an insurance-cum-pension policy and the date on which you receive the first installment of pension. Such policies generally prescribe a minimum and maximum limit on the deferment period.

The date on which the settlement of insurance coverage comes to a stop and on which the survival benefits are payable.

In case you don't want to continue the policy, you have got the option of returning the authentic coverage, within 15 days from the date of receipt of the policy.

You can surrender insurance before maturity. A policy acquires surrender cost and payout of the give up value could be depending on the particular product class & capabilities.

Last updated on 26-08-2020