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IndiaFirst Life Insurance
India First Life Insurance company , inaugurate recently in year March 2010, is the youngest life insurance company in India with a rich inheritance of over 360 years of combined service of its promoters – Bank of Baroda, Andhra Bank and Legal & General. This joint venture collectively bring a real understanding of the Indian consumers by the promoter banks with international best practices developed by Legal & General. The company has its Headquartered in Mumbai, and currently working on bancassurance model to leverage the existing branch network of over 4,800 branches of promoter banks across the country. The domain expertise, customer knowledge, product innovation and nationwide reach of the Company has made possible that within 500 days of its business operation ,India First Life Insurance, crossed the Rs. 500 crore mark in new business premium and issued more than 1.2 million policies across over 1000 cities and towns in India. India First Life Insurance plans to further strengthen and spread its presence across the country by launching our alternate channel of distribution.
India First Life Insurance has already achieved substantial progress during our first year of its business operation.. The Company aims to place its customers ‘First’ in everything and believes to makes its different place through simple, easy to understand products, fair price, high quality service and honest advice. India First Life Insurance initial product range covers the typical needs of protection, savings, education, retirement and health through following products:
Individual Plans
IndiaFirst Life Plan
IndiaFirst Anytime Plan
IndiaFirst Simple Life Plan
IndiaFirst Annuity Plan
IndiaFirst Smart Save Plan
IndiaFirst Young India Plan
Group Plans
IndiaFirst Group Term Plan
IndiaFirst Group Credit Life Plan
IndiaFirst Employee Benefit Plan
IndiaFirst Secure Save Plan
Contact Address
Baroda Corporate Centre
C-26, G-Block,
Bandra Kurla Complex,
Bandra (E)
Mumbai – 400 051
Office Fax no – 022 33259500
Website: www.indiafirstlife.com
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I would like to know more about this pansion plan….
please contact me asap.
Regards
Sangita Raina
Magic Plan – Retire Enjoy
Proposer’s Age – 30 years
The objective of this proposal is to provide financial security to your family during your productive span and a happy independent retired lifestyle for yourself and your spouse when you decide to retire. Under this insurance proposal you will need to make premium payments of Rs.33183/- p.a. from your own funds till your age of 54 years. This proposal provides for a high riskcover of Rs.1100400/- starting at age 30 and growing to Rs.3281250/- at age 55.
In the year 2036 when you will be 55 years of age, you will start receiving annual tax free income every year till 75 years of your age. Income starts at Rs. 135692 per annum and increases every year to take care of inflating costs of living. There is a provision of risk cover during this period too. In case of death during this period lump sum amount corresponding to the prevailing risk cover will be paid to your nominee.
No premiums are payable from own fund after deferment period, that is, after age 54. Premiums are available for exemption under sec.80 CCE of income tax act upto Rs.100000/- per annum.In the event of any emergency or financial difficulties,there is a provision under this Magic Plan to provide loan against the insurance policy. The loan is available after 2 years of completion of the policy and payment of 3 yearly premiums.
Proposer’s Age – 22 years
The objective of this proposal is to provide financial security to your family during your productive span and a happy independent retired lifestyle for yourself and your spouse when you decide to retire. Under this insurance proposal you will need to make premium payments of Rs.12175/- p.a. (approx 1000/- per month) from your own funds till your age of 54 years. This proposal provides for a high riskcover of Rs.471600/- starting at age 22 and growing to Rs.1891800/- at age 55. You can also take loan during the policy term. Max loan available is appox 750000/- at age of 54.
In the year 2044 when you will be 55 years of age, you will start receiving annual tax free income every year till 60 years of your age. Income starts at Rs. 305694/- per annum and increases every year to take care of inflating costs of living. There is a provision of risk cover during this period too. In case of death during this period lump sum amount corresponding to the prevailing risk cover will be paid to your nominee.
TAXT FREE PENSION AMOUNT RECEIVED
55 year – 305694/-
56 year – 324184/-
57 year – 339639/-
58 year – 359557/-
59 year – 379444/-
60 year – 399300/-
TOTAL – 2110818/- (TWENTY ONE LACS APPROX)
No premiums are payable from own fund after deferment period, that is, after age 54. Premiums are available for exemption under sec.80 CCE of income tax act upto Rs.100000/- per annum.In the event of any emergency or financial difficulties,there is a provision under this Magic Plan to provide loan against the insurance policy. The loan is available after 2 years of completion of the policy and payment of 3 yearly premiums.
Disclaimer
Magic-Plan Retire & Enjoy is a combination of LIC plans specially researched to meet the objective of securing a financially
independent life for yourself and your spouse on retirement. Insurance is subject matter of solicitation.
The benefits shown in this presentation is based on forecast of future bonuses expected from L.I.C.. These bonuses are not
guaranteed and have been estimated solely to understand the possible benefits from proposed Insurance. Actual results may vary.
Loan calculation is done on the basis of present surrender value rates
For Details contact us at : http://licpensionplans.com/contact-us