IndiaFirst Money Balance Plan

investment

The IndiaFirst Money Balance Plan is a unit-linked endowment plan that understands your need for financial security and wealth creation. It offers you comprehensive life coverage along with the right fund options to help you grow your money. The plan features an ‘automatic trigger-based’ investment strategy via which it systematically transfers the earnings of your investment to a safe fund with consistent returns. 

The plan comes with 2 fund options that allow the investor to choose the fund allocation according to their risk profile. The plan also allows you to switch between these 2 fund options in line with changes in your financial goals and investment style. You can also transfer your savings to a relatively safer fund option, which can help you earn good and consistent returns.

Best Features of IndiaFirst Money Balance Plan 

The following are some of the key features of the India First Money Balance Plan -

  1. Fund Options: This plan offers 2 fund options namely Equity1 and Debt1 which can be chosen as per the risk profile of the investor.
  2. Premium Payment Option- This policy allows you to pay the premium as a one-time, limited payment, and regular payment.
  3. Investment Strategy - The plan comes with an ‘automatic trigger-based’ investment strategy that will automatically build on your savings and transfer your matured investments to a safe account with consistent returns. 
  4. Fund Switching- The policy also has an attractive free switching facility, however, only 2 free switches are allowed in a month.  

Benefits of IndiaFirst Money Balance Plan 

The following are the different kinds of benefits available under the India First Money Balance Plan -

1.Death Benefit - 

In case of the unfortunate demise of the life assured a death benefit in the form of a lump sum or monthly instalments as opted while purchasing is payable to the nominee. The sum assured would be either the fund value or105% of the total premiums paid, whichever is higher. 

2. Maturity Benefit -

On maturity, the life assured has the choice to either receive the fund value accumulated over the years as a lump sum payment or in instalments over a period of 5 years.

3.    Partial Withdrawal Benefit - 

Under this plan, the investor has the option of accessing their funds partially, during times of emergency. Partial withdrawal is allowed after the completion of the fifth policy year. This facility allows the investor to partially withdraw a minimum amount of INR 5,000. The maximum amount of partial withdrawals corresponds with the respective premium payment modes but the withdrawal cannot exceed 25% of the total fund value. 

4.    Surrender Benefit -

 

If the investor decides to surrender the plan within the first 5 years of the policy tenure, the fund value will be credited to the discontinued plan. The fund value will be paid only after the completion of the lock-in period, i.e. 5 years from the date of commencement of the policy. 

If the investor chooses to discontinue the plan after the lock-in period of 5 years ends, the fund value as on the date of surrender will be payable.

       5.    Loan Benefit -

The plan offers a loan facility to the investor which can be availed before the completion of the first 5 years of the policy tenure. The loan amount should not exceed 50% of the surrender value for the plan where the debt accounts for more than 60% of the total fund value and not more than 50% for the plan where equity accounts are more than 60%  of the total fund value. 

IndiaFirst Money Balance Plan Eligibility Conditions 

The following are the eligibility conditions that a prospective investor needs to meet before purchasing the IndiaFirst Money Balance Plan -

IndiaFirst Money Balance Plan Eligibility Conditions
Minimum Entry Age 5 years (as on last birthday)
Maximum Entry Age65 years
Minimum Maturity Age18 years
Maximum Maturity Age75 years
Premium Paying Term (PPT)
  • Regular Pay for 10, 15, 20, and 25 years
  • Limited Period of 7 years for 10, 15, 20 and 25 years of Policy Term
  • Single Premium for 5, 10, 15 and 20 years of Policy Term
Policy Term Regular and Limited PPT: 10, 15, 20 and 25 years
Single Premium: 5, 10, 15 and 20 years
Minimum Annual Premium 
  • Regular Pay: INR 12,000
  • Limited Pay: INR 15,000
  • Single Pay: INR 45,000
Maximum Annual Premium No limit
Minimum Sum Assured


 

For Life Assured Aged Below 45 years 

For Life Assured Aged 45 years and above

Regular and Limited PPT

105% * PPT *

Annualised

Premium

 or

10* Annualised

Premium

 or

0.5 * Plan

Term * Annualised

Premium


 

whichever is higher


 

105% * PPT *

Annualised

Premium

 or

7* Annualised

Premium

 or

0.25 * Plan

Term * Annualised

Premium


 

whichever is higher


 

Single Premium

125% of Single Premium

110% of Single Premium


 

Maximum Sum Assured

Maximum Sum Assured is ‘X’ times (defined as below) the

annualised/ single premium:


 

PPT

Up to 45

46-50

51-55

56-60

61-65

Regular Premium

40

30

25

20

11

Limited Premium

25

15

11

11

11

Single Premium

5

5

11

11

11


 

India First Money Balance Plan Fund Options 

The following are the fund options available under the India First Money Balance Plan -

Fund Name

Equity

Debt

Money Market

Risk

Equity1

80% - 100%

0%

0% - 20%

High

Debt1

0%

70% - 100%

0% - 30%

Moderate

India First Money Balance Plan Review 

The IndiaFirst Money Balance Plan is an investment plan that seeks to aid your personal financial growth while also offering a life insurance cover for your loved ones in your absence. Under this plan, you can pay your premiums as per your convenience either as a single payment or in annual/half-yearly instalments. The plan offers you 2 different fund options - one debt and one equity, thereby allowing you to allocate your funds as per your risk-taking ability.

Moreover, this plan offers you enough flexibility by way of partial withdrawal benefits and fund switches. One of the unique features of this plan is its ‘automatic trigger-based investment

strategy. With this option, you can grow your savings systematically and automatically transfer them to a relatively safer fund offering substantial and consistent returns. People looking for a flexible and safe investment plan can consider shortlisting this plan.

India First Money Balance Plan Frequently Asked Questions (FAQs)
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