Which policy type you should choose ?

Which Policy Type

Should You Choose?

With multiple categories of insurance plans

available, choosing a category that matches

your needs will allow you to realize the policy

benefits to the maximum.

Let’s see how you can match your need with

an ideal category…

Consider This Scenario…

You wish to buy an insurance policy that will give you a large cover at minimal costs

Or

You wish to secure your child’s future

Or

You wish to build long term savings through market linked returns with an insurance

cover

Bearing in mind such different needs, life insurance companies

offer multiple products,

each designed to meet a specific need.

Benefits of Choosing a Tailored Product

By choosing a product category that matches your need, you

can be rest assured that your goal will enjoy the safety net

offered by life insurance, in case of all eventualities.

Remember, there is no one-fit for all. Your needs and life stage

are different from your neighbor. Hence what may be the right

plan for him, may not necessarily be the best for you.

Broad Insurance Categories

Categories

Though each product category has multiple policies, all policies can be broadly

categorized as follows -

Life Insurance Categories

Understanding The Different Categories

Term Plans Enjoy a large insurance cover at minimal costs In case of death during the policy term, your dependents will receive the policy sum assured If you outlive the policy term, you are not entitled to receive anything

Endowment Plans Enjoy protection and savings On maturity or death, the policy pays out the sum assured plus accumulated bonuses

Unit Linked Insurance Plans (ULIPs) Enjoy market linked returns and speed up the wealth creation process A portion of the premium paid is towards the insurance cover while the remaining is invested

in an investment fund of your choice On death or maturity, depending on the plan features, the payout includes higher of the

policy sum assured and fund value or both

Understanding The Different Categories

Pension Plans Build a corpus for your retirement that will allow you to enjoy financial independence Based on the frequency of your choice, receive a regular stream of income from the same

Child Plans Secure your child’s future even in your absence Receive periodic payments that will give you financial support when your child reaches his/

her milestones On death of the parent, in most cases the basic sum assured is paid, future premiums

waived and the periodic payments continued to be made as per the plan

Loan Protection Plans Secure your loan liabilities under all circumstances On completion of the loan repayment, the insurance cover ceases or can be easily

surrendered, depending on the plan terms In case of death/total and permanent disability during the policy term, the policy proceeds

can be utilized to settle the outstanding loan amount

Conclusion

Before you buy any plan…

Ask yourself do you need insurance?

If “Yes”, how much cover? The cover will depend on your needs and your premium paying capacity. Choose a premium amount that you can comfortably pay over the policy term.

Finally, ask why you need insurance? Once the specific need is clear, pick a category that best serves your need.

The policies available within the chosen category will be the right policy for you.

Sum-up

Disclaimer

Insurance is the subject matter of the

solicitation. Please read the sales brochure

carefully before buying the plan. IndiaFirst Life

Insurance Company Limited. IRDA

Registration No. 143. Registered and

Corporate Office Address: 301, 'B' Wing, The

Qube, Infinity Park, Dindoshi - Film City Road,

Malad (East), Mumbai - 400 097.

www.indiafirstlife.com. SMS <FIRST> to

5667735 SMS Charges apply. Toll free No -

1800 209 8700.

Thank You