IndiaFirst Life Super Protection Plan is a simple life insurance plan with Individual pure risk cover crafted to secure your family's financial well-being in case of unexpected events.

You get to decide the amount of coverage you want, but it should meet the minimum requirement. The maximum death sum assured that your loved ones would receive in case of unfortunate events is determined by the policy guidelines approved by the Board. Your premium is calculated based on the cover. Minimum Sum Assured under Life Option is INR 50 Lakhs & under ROP Option is INR 25 Lakhs.

Tax benefits may be available on premiums paid and benefits receivable as per prevailing Income Tax Laws. These are subject to change from time to time as per the Government Tax laws. Please consult your tax consultant before purchasing this policy.

Policy Loan will be available for “Option 2: Life with Return of Premium Option” subject to the following term and conditions.

• The loan amount will be subject to 80% of the surrender value.

• The minimum loan amount should be Rs. 1,000.

• For in-force and fully paid-up policies, if the outstanding loan along with interest exceeds 90% of the surrender value, company will send a notice to the policy holder to repay the loan partially or completely. If loan is not repaid subsequent to receipt of the notice, then we will adjust the outstanding loan along with interest before any payment of benefits. After recovering the outstanding loan along with interest, remaining benefit, if any, will be payable.

• For other than in-force and fully paid-up policies, as and when the outstanding loan along with interest exceeds 90% of the surrender value for paid-up cases, company will send a notice to the policyholder to repay the loan partially or completely. If loan is not repaid within a stipulated period, the policy will be compulsorily surrendered and the outstanding loan along with interest will be recovered from the surrender proceeds or paid-up value.

• The basis used for the calculation of interest rate on loan is 10-year G-Sec rate as at the end of last financial year plus the absolute margin of 250 basis points rounded up to the nearest 50 basis points. The derived interest rate will be applicable in the succeeding financial year. Currently, the interest rate on loan for FY 2024-25 is 10.00% p.a. (simple). It is arrived at by adding a margin of 250 basis points on the effective annual 10-year G-Sec and rounding up to the nearest 50 basis points (10.00% ~ 7.18% + 2.50%).

• Any change in the methodology of calculating the loan interest rate shall be subject to prior approval from the authority.

Riders attached with this product:

• IndiaFirst Life Accidental Death Benefit Rider (UIN: 143B019V01)

• IndiaFirst Life Total Permanent Disability Rider (UIN: 143B021V01) 

 

The terms and conditions of the riders will be applicable as approved.

Yes, there is high sum assured rebate under this policy for all options

For Life Option:

Sum Assured band	Rebate on premium
75,00,000 – 99,99,999	2.0%
1,00,00,000 – 1,99,99,999	3.5%
2,00,00,000 and above	5.0%

For ROP Option:

Sum Assured band	Rebate on premium*
75,00,000 – 99,99,999	2.0%
1,00,00,000 – 1,99,99,999	3.5%
2,00,00,000 and above	5.0%

Yes, you can include your spouse in the same insurance policy by choosing the Joint Life Option. This choice is only available with the Life Option. The insurance coverage for both of you starts when the policy begins. If you choose this option, your spouse gets an additional cover of 50% of the main insured person's coverage, up to a maximum of ₹1 crore. If the secondary life assured(your spouse) passes away, the applicable benefit will be paid. If a payout happens for one of the insured persons, the policy will continue for the other until the benefits for both are used up or until the end of the policy term, whichever comes first.

• The option to increase the sum assured is only available with the Life Option. You can do it without going through a medical checkup. This is possible on certain events during the life of the person insured.
• The total increase can't go beyond 100% of the initial Sum Assured.
• The option to increase Sum Assured can be availed within a period of six months from the date of the specified events provided no claim has been made under the policy for Waiver of Premium. The increase in Sum Assured will be effective from the annual policy anniversary falling immediately after the date of notification and an additional premium will be charged for an increase in the Sum Assured based on the attained age of the policyholder at the option exercise date.
• To use this option, you should have been underwritten at the standard rate when you started the policy, the policy should be active with premium payments at the time of exercising this option, and your age must be below 45.

This option doesn't apply to single premium policies premiums and payments:

Events	Maximum additional % of Base SA	Maximum Additional SA allowed
Marriage (only one instance during Policy Term)	50%	50 Lakh
Birth/ Legal adoption of 1st child	25%	25 Lakh
Birth/ Legal adoption of 2nd child	25%	25 Lakh
Home loan taken by Life Assured(only one instance during Policy Term)	50% or loan amount (whichever is lower)	50 Lakh

Yes, you can reduce your sun assured if:

• If you boosted your coverage for a specific event before turning 45, you can later choose to reduce it. This choice is only available with the Life Option. 
• You can lower the coverage by the same amount you increased it for that specified event. 
• The reduction starts from the next annual policy anniversary after you tell us, and your premium goes down at the same time. 
• The premium reduction matches the extra cost you paid when you increased the coverage for that specific event, as explained in the option to Increase Sum Assured. 
• You can't choose to decrease the coverage during the last 5 policy years, and once it's decreased, you can't increase it again.
• If you want to decrease the coverage, you need to send a written request at least two months before the annual policy anniversary.

• Lumpsum Option

  The benefit on death or diagnosis of terminal illness, whichever is earlier, is payable as lumpsum and the policy terminates. 

• Lumpsum and Level Income Option

  On death or diagnosis of terminal illness, whichever is earlier, the policyholder can choose 10% to 50%, in multiple of 10%, of the applicable death benefit to be paid immediately as lumpsum and the balance amount to be paid in arrears as equal monthly instalments over a period of 5 years. The lumpsum percentage has to be chosen at the inception of the policy. In case of instalment payment of death benefit, the monthly instalment benefit amount will be calculated as dividing lump sum amount (say, S) by annuity factor (i.e. a(n)(12)) i.e. S/a(n)(12), where n is the instalment period of 5 years. The interest rate used to determine annuity factor is {5-year G-Sec rate less 2.00%, rounded down to the nearest 25 bps}, where the 5-year G-Sec is at the beginning of the financial year. The applicable interest rate for FY 24-25 is 5% p.a. (i.e. ~7.18% (5-year G-Sec rate) less 2.00%). 

  Any change in the methodology for calculating the instalment benefit amount shall be subject to prior approval from the Authority. Once the instalment payment starts, this payment remains level throughout the instalment period. 

Suicide Exclusion:
In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force.

Certainly! If you're not happy with your policy and want to return it, you can do so within the Free Look period. This period is 30 days from the date you receive the policy. 

Will you get a refund when you return your policy? Yes, you will receive a refund that includes: 

The premium you paid

Minus a proportionate risk premium for the time the policy was active

Minus any stamp duty paid

Minus any expenses incurred on a medical examination, if applicable

We provide you with a grace period which is the time provided for payment of premium from the premium due date during which the policy is considered to be in-force with the risk cover. For Limited Premium policies, you are provided a Grace Period of 15 days under monthly mode and one month but not less than 30 days for other premium payment modes, in case you miss your due premium on the due dates. All your policy benefits continue during this grace period and the policy will be considered to be in-force.

Collection of renewal premium in advance shall be allowed within the same financial year for the premium due in that financial year. Provided, the premium due in one financial year may be collected in advance in earlier financial year for a maximum period of three months in advance of the due date of the premium. No discount will be offered if premium is paid within one month prior to premium due date.

If you don't pay your premium within the grace period, your policy will lapse. This means your coverage stops, and you won't get any more benefits.

If the person insured passes away or a covered event occurs during the grace period, we'll still pay the benefit. However, we'll deduct any unpaid premiums until the date of death or the covered event. Your policy is considered active during this time.

For the Return of Premium Option, the policy lapses if the grace period passes from the first unpaid premium until one full policy year premium is paid. For all other options, if the grace period passes from the first unpaid premium, and you haven't paid, the policy will lapse, and no benefits will be paid.

The Return of Premium Option can have a paid-up value if the grace period passes from the first unpaid premium, at least two consecutive years of premiums have been paid, and subsequent premiums are not paid.

Under the Return of Premium Option: 

The paid-up death benefit is calculated based on the Sum Assured * (Total numbers of premiums paid)/ (Total Number of premiums payable over the policy term

The paid-up maturity benefit is a return of 100% of the total premium paid.

There are rebates on premium rates based on the Sum Assured bands, and the options to revive a lapsed policy are available within five years from the due date of the first unpaid premium. The revival process involves paying overdue premiums with interest, a declaration of good health, and possibly a medical examination at your expense. 

If the term policy is revived, all benefits will be restored as if it were an active policy. However, the revival process is subject to satisfactory medical and financial requirements set by the company, and any associated costs, if applicable, will be your responsibility.

Maturity Benefit is only applicable in case Return of Premium Option is chosen. On survival of the life assured till the end of the policy term, Maturity Benefit i.e. 100% of Total Premiums Paid (TPP) shall be paid to the Policyholder. The policy terminates once the full amount of benefit is paid on occurrence of the event. No maturity benefit is applicable under any of the other plan options.

This is an optional benefit, available only with Life Option provided the policy has been underwritten on standard terms. This option has to be selected by the policyholder at the inception of the policy. All future premiums shall be waived if the Life Assured is diagnosed with any of the listed 40 Critical Illnesses or total permanent disability due to accident. An additional premium will be charged for this benefit. If Joint Life Option is chosen along with this option, then WOP is applicable only on the primary life assured.

In case of critical illness, a waiting period of 180 days will be applicable.

The critical illnesses covered under this plan -

Critical Illness

1 Cancer of specified severity

2 Open Chest CABG

3 Kidney Failure requiring regular dialysis

4 Permanent paralyses of limbs

5 Primary (Idiopathic) Pulmonary Hypertension

6 Myocardial Infarction (First Heart Attack of Specific Severity) 

7 Stroke Resulting in Permanent Symptoms

8 Major organ / bone marrow transplant 

9 Multiple Sclerosis with persisting symptoms

10 Surgery to Aorta

11 Apallic Syndrome

12 Benign Brain Tumour

13 Coma of specified severity

14 End Stage Liver Failure 

15 End Stage Lung Failure

16 Open Heart Replacement or Repair of Heart Valves

17 Loss of Limbs

18 Blindness

19 Third degree Burns

20 Major Head Trauma 

21 Loss of Independent Existence 

22 Cardiomyopathy

23 Brain Surgery

24 Alzheimer's Disease

25 Motor Neurone Disease with permanent symptoms 

26 Muscular Dystrophy

27 Parkinson's Disease

28 Deafness

29 Loss of Speech

30 Medullary Cystic Disease

31 Systemic Lupus Erythematosus

32 Aplastic Anemia 

33 Poliomyelitis 

34 Bacterial Meningitis 

35 Encephalitis

36 Progressive Supra nuclear Palsy

37 Severe Rheumatoid Arthritis

38 Creutzfeldt – Jakob Disease

39 Fulminant Viral Hepatitis

40 Pneumonectomy

 

The premium rates for this option are guaranteed for five years only from the date of commencement of the policy. The company reserves the right to carry out a general review of the experience from time to time and change the premium as a result of such review on approval of the IRDAI. The company will give notice in writing about the change and the insured person will have the option not to pay an increased premium.