IndiaFirst Life Insurance has launched a unit-linked savings plan ‘IndiaFirst Money Balance Plan’. ‘IndiaFirst Money Balance’ plan is available across all Bank of Baroda and Andhra Bank branches. Net savvy customers can buy this insurance plan online as well.
1. ‘Automatic Trigger-based’ Investment Strategy
Under the plan your earnings on investment from equity are transferred to debt on a daily basis, if the return is 10 percent or higher, so that you can enjoy the upside of the equity market and also secure the returns on your investments. This is done using the ‘automatic trigger based’ investment strategy. This helps balance your portfolio and ensures you have a healthy balance of equity and debt as you grow older!
2. Flexible Premium Payment
You may pay your premium(s) either regularly or for a limited period of time or through a single payment.
The plan allows easy access to your money by providing you a loan facility during the first 5 years of your plan. It also allows you to withdraw partially (after five years) in case of any financial emergency.
4. Life Cover
The plan offers a life cover in case of the life assured’s unfortunate demise.
5. Fund Switching
You can also take your own investment calls by switching your premiums between funds every week with 52 free switches. You can also get easy access to your money by being able to withdraw partially.
6. Tax Benefit
Under Section 80C you can enjoy Tax Benefits on the premium that you invest. You also get tax benefits on the benefits that you receive on maturity of your plan, under Section 10(10D).