IndiaFirst Young India Plan - Life Insurance

Your child, your pride...Our joy!IndiaFirst Young India Plan

Before you start readingImportant noteThe IndiaFirst Young India Plan is referred to as thePlan throughout the brochure.How will this brochure help you?This brochure gives you details of how the plan worksthroughout its lifetime. It’s an important document torefer to.To help your understandingWe’ve done our best to explain everything as simply aspossible; however you’re likely to come across someterms you’re unfamiliar with. Where possible, we’veexplained these.We have used plain language that’s easy to understandand believe this brochure is a good place to start whenconsidering an investment.ContentsPg. No.Introduction........................................................................... 2Executive summary............................................................. 21. About your plan .......................................................... 22. Term of the plan .......................................................... 23. People involved in the plan ...................................... 24. Premium paying modes............................................ 25. Amount you can invest............................................. 36. Calculation of sum assured ..................................... 37. Maturity benefit .......................................................... 38. Tax benefit .................................................................... 39. Death benefit ............................................................... 310. Additional benefit....................................................... 411. Funds available............................................................ 512. Switching and premium redirection...................... 513. Partial withdrawals..................................................... 614. Protection from market fluctuations..................... 615. Charges under this plan............................................ 716. Missing your premium.............................................. 917. Discontinuing your plan ........................................... 918. Moving between plans – Portability option ...... 1019. Loan benefits.............................................................. 10Pg. No.20. Cancelling your plan ................................................ 1021. Valuation of units...................................................... 1022. Allocation of premiums to units............................ 1123. Broad risks.................................................................... 1124. Suicide by life assured ............................................. 1225. Prohibition from accepting rebate ....................... 1226. Submission of false or incorrect information.... 1227. About IndiaFirst Life Insurance............................. 121

IntroductionYour loved ones, your pride… Our joy!We understand that, as a parent or a spouse, you wantto give nothing but the best to your loved ones. Be ityour child’s education or any dream. You will not allowanything to come in the way of the success of yournear and dear ones.To help you give your loved ones everything that youhave dreamt of, we have introduced the IndiaFirstYoung India Plan.Executive summaryKey features• Your child or loved one will receive funds at everymomentous occasion in his/her life as planned byyou - be it high school/college/professional courseand any other life events!• You have an insurance cover on your life whichensures that your loved one receives a lump sumamount (sum assured) in case any unfortunateevent results in the life assured’s death.• Your family gets additional financial security even ifany unfortunate event results in the life assured’sdeath/disability. We will do this by paying theremaining premiums into the plan or directly to you.• You can opt for the beneficiary to receive the fundvalue at maturity even if the sum assured has beenpaid out, in the unfortunate event of the lifeassured’s demise.• You can make the most of your investments by‘switching’ from one fund to another• You get easy access to your money by being able towithdraw partially• Under Section 80C and 10 (10D) you can enjoy taxbenefits on the premium you investRisk factors• The premiums paid in unit linked plans are subjectto investment risks associated with capital markets• The value of the units may go up or down based onthe performance of the fund• Other factors influencing the capital market affectthe value of the units. Hence you, as thepolicyholder are responsible for all your decisions.• None of our funds offer a guaranteed or assured return• The past performance of our other funds does notnecessarily indicate the future performance of anyof these funds1. What is IndiaFirst Young India Plan?IndiaFirst Young India Plan is a unit linked savings planthat offers you an insurance cover on your life andadditionally helps you to grow your money throughmarket linked instruments, This ensures that yourfamily receives financial support as planned by you,even in your absence.2. What is the term of the plan?Your plan is a regular premium plan with term optionsof 10, 15, 20 and 25 years.3. Who are the people involved in the plan?This plan may include the ‘Life Assured’, the‘Beneficiary’ and the ‘Appointee’.Who is the life assured?In this plan the life assured and the policyholder arethe same.Who is the beneficiary?The beneficiary is the person nominated to receive thebenefits under this plan. For eg, your child, yourspouse etc. There will be no insurance cover on the lifeof the beneficiary.Minimum age at the time ofapplying for the planMaximum age at the time ofapplying for the planMaximum age at the end of theplan termWho is an appointee?Life assured18 years as onlast birthdayAn appointee is the person whom you may nominateat the time of buying the plan in case your nominatedchild or beneficiary is a minor. The appointee takes careof the plan in your absence.4. What are the premium paying modesavailable?Premiums may be paid six monthly or yearly.55 years as onlast birthday65 years as onlast birthday2

5. How much can you invest?Six monthly YearlyMinimum investment ` 6,000 ` 12,000Maximum investment No limit No limit6. How is the sum assured calculated?The sum assured is –Plan under/Age bandwhile applying forthe plan (years)MinimumMaximum7. What do you receive at the end of theplan term?You receive the fund value at the end of the plan term.What are the payments on maturity?On maturity we will pay -Up to 45• You the fund value as a lump sum46 – 50In case opted for, we will pay the child or beneficiary thefund value in the unfortunate event of the life assured’sdemise during the plan term if he/she has attained theage of 18 years. Else, we will pay the fund value to yourappointee, if the beneficiary is a minor.You may choose to receive this payment ininstallments over a period of time specified by you.This period is called the Settlement Period. During thisperiod, the fund management and policyadministration charges will be charged.When does the settlement period start?51 - 55105% of (premium payingterm * annualised premium)40 30 25Your settlement period starts from the date of maturityand can be applicable for a maximum period of 5 years.However, you have to opt for the Settlement Option atleast 3 months prior to the date of maturity.Can you secure your funds during thesettlement period?You may choose your fund investment into a Liquid 1Fund or any other fund allowed under this productduring the settlement period.Does the life cover benefit continue during thesettlement period?No, there is no life cover during the settlement period.We will pay the fund value as on the date of intimationof death, to the nominated beneficiary or theappointee in case of the life assured’s unfortunatedemise.. However during this period you do not getthe privilege of ‘the Additional Benefit of all futurepremiums payable by the Company in case ofaccidental disability/death.Who bears the investment risk during thesettlement period?The investment risks will be borne by you, thepolicyholder during the settlement period.Are you allowed to make switches or partialwithdrawals during the settlement period?No. Switches or partial withdrawals are not allowedduring the settlement period.8. Tax benefits under this planCurrently you are eligible for the below mentioned taxbenefits. These are subject to change from time to time.However, you are advised to consult your tax consultant.Tax benefits on the premiums paidYou are eligible for tax deductions up to ` 1,00,000 onpremiums paid under Section 80C of the Income TaxAct, 1961.Tax benefits on the maturity amount andwithdrawalsYou can get full tax benefits on the maturity amountand the withdrawal amounts under Section 10(10) D,of the Income Tax Act, 1961. But this applies only if thepremium in any year during the plan term does notexceed 20% of the sum assured.Death benefits are tax free under section 10 (10D) ofthe Income Tax Act, 1961.9. What happens in case of the lifeassured’s demise?Your beneficiary will receive the sum assured amount ifhe/she has attained the age of 18 years, in theunfortunate event of the life assured’s demise, duringthe plan term.The sum assured will be paid out to the appointee if thebeneficiary is a minor.There is also an Additional Benefit equal to the sum of3

all future premium(s) payable on death or disabilitydue to accident of the life assured.You may choose this benefit at inception itself, to bepaid in one of the two ways as follows:Option IPaid to the policyholder/nomineeimmediately on the disability/death of thepolicyholder. In case of death, the fund valueis paid out and policy terminates.Option ii The Company pays all the future premiumsimmediately to the plan by creating unitsunder funds as exist on that time. The fundvalue will be paid at the maturity date.Hence, this benefit ensures that thebeneficiary receives the fund value asplanned by the life assured, at the end of theplan term. The beneficiary however, doesnot have any right to exercise any fundrelated option except receiving the policymoney as decided by the policyholder priorto his/her death.10. Under what circumstances is theadditional benefit equal to the sum of allfuture premium (s) payable?• In the unfortunate event of the life assured’s deathduring the plan term• In case of an unfortunate accident that causes thelife assured to be permanently and totally disabledduring the plan termDefinitions applicable to Additional Benefit onaccount of Total and Permanent Disability due toaccident only:“Accident” will mean an event or contiguous series ofevents, which are violent, unforeseen, involuntary,external and visible in nature, which causes Bodily Injury.“Bodily Injury” means Injury must be evidenced byexternal signs such as contusion, bruise and woundexcept in cases of drowning and internal injury.“Total and Permanent Disability” refers to a disability,which -• is caused by Bodily Injury resulting from an accident,and• occurs due to the said bodily injury, directly andindependently of any other causes, and• occurs within 180 days of the occurrence of suchaccident, and• completely, continuously and permanently preventsthe life assured from engaging in any work,occupation or profession to earn or obtain any wages,compensation or profit, such condition to persist forat least 6 months from the date of disabilityFor the purposes of this benefit, the loss of both arms,or of both legs, or of one arm and one leg, or of botheyes, shall be considered total and permanentdisability, without prejudice to other causes of totaland permanent disability.“Loss of an arm or a leg” will mean physical severanceof the arm at or above the wrist or physical severanceof the leg at or above the ankle which -• is caused by bodily injury resulting from an accident, and• occurs due to the said bodily injury, directly andindependently of any other causes, and• occurs within 180 days of the occurrence of suchaccident“Loss of an eye” will mean total and irrevocable loss ofsight of an eye which -• is caused by bodily injury resulting from an accident,and• occurs due to the said bodily injury, directly andindependently of any other causes, and• occurs within 180 days of the occurrence of suchaccident4

11. What are the different fund options available?We provide you with five fund options. You may choose what percentage of premium you would like to allocate toeach of these funds.Fund nameEquity1(SFIN: ULIF009010910EQUTY1FUND143)Balanced1(SFIN: ULIF011010910BALAN1FUND143)Debt1(SFIN: ULIF010010910DEBT01FUND143)IndexTracker(SFIN: ULIF012010910INDTRAFUND143)Value(SFIN: ULIF013010910VALUEFUND0143)What does the fund do?Provides you high real rate of return in the long term byinvesting more in equity investments. There is a highprobability though, of negative returns in the short term.Provides you investment returns that exceed the rate ofinflation in the long term. There is a moderate probabilitythough, of negative returns in the short term.Provides you investment returns that exceed the rate ofinflation in the long term. There is a low probability of negativereturns in the short term.Provides you long term appreciation by investing in equityinvestments. We will try to track the S&P CNX Nifty Indexreturns by investing a significant portion of the fund in thesecurities of S&P CNX Nifty Index in a similar proportion/weightage as the Index. There is a high probability though, ofnegative returns in the short term.Provides you moderate to high real rate of return in the longterm by investing more in equity investments. We will try toprovide long term capital appreciation through investment inequity shares that are relatively undervalued to their expectedlong-term high earnings and growth potential. There is a highprobability though, of negative returns in the short term.Asset allocationEquity Debt MoneymarketRiskprofile80% to 0% 0% to High100% 20%50% to 30% to 0% to Medium70% 50% 20%0% 70% to 0% to Moderate100% 30%90% to 0% 0% to High100% 10%70% to 0% 0% to High100% 30%12. How do you move from one fund toanother?You can move from one fund to another either byswitching or by redirecting your premium.What is switching?Under switching you may move some or all your unitsfrom one unit linked fund to another.Are there any limits for switching?Minimum switching amount ` 5,000Maximum switching amount5Fund valueWhat are the charges for switching betweenfunds?You are allowed only 2 free switches every month.However, the unused free switches cannot be carriedforward to the next month.What is premium redirection?Under premium redirection you can redirect your futureinvestments towards a different fund or set of funds.However, under the premium redirection option your pastallocation of premium does not change. You can opt for thePremium redirection from the 2nd plan year.

Example: At the age of 30, you choose to invest yourpremiums in an Equity 1 fund, which is prone to highreturns in the long term and high risk in the short term.Five years down the line, you have additionalresponsibilities and do not wish to take high risks withyour investments. You can change your investmentpreference by redirecting future premiums to otherDebt 1 or Balanced 1 funds which have low to moderaterisks in short term. You can continue to keep yourexisting investment in Equity 1.13. Are partial withdrawals allowed?Yes. You may access your money in case of anyemergency by withdrawing partially after the fifth planyear. However, you need to have paid all yourpremiums for the first 5 years.Are there any limits on partial withdrawals?MinimumwithdrawalMaximumwithdrawal` 5,000Up to 25% of the fund value only ifyour fund is left with a minimumbalance equal to 110% of your annualpremium after the withdrawal14. How can you protect your investmentsfrom market fluctuations?You can protect your investments from marketfluctuations by transferring your money to a ‘Liquid1’fund during the last three years of your plan. Areminder about this option will be sent to you prior tothe three years prior to the end of your plan term withfurther details about the same.How does the transfer of investments to theLiquid 1 fund actually happen?3% of your investment in each of the plan funds will beautomatically switched to the Liquid1 fund in each ofthe last 36 monthly anniversaries prior to maturity.Does the proportionate allocation of remainingfunds change on transfer to the Liquid 1 fund?No. When we transfer your funds to the Liquid1 fund,the ratio in which your remaining funds are allocateddoes not change.Example: You can withdraw up to ` 20,000 if you payan annual premium of ` 15,000 and have accumulateda fund value of ` 80,000 over a few years (25% of thefund value).There are no partial withdrawal charges applicable.How are funds deployed under the Liquid1 fund?Fund name What does the fund do? Asset allocation Risk profileEquityDebtMoneymarketLiquid1(SFIN: ULIF014010910LIQUID1FND143)Provides steady investment returns achieved through highinvestment in money market securities. There is a lowprobability of negative returns in the short term0% 0%to20%80%to100%Low6

15. What are the charges applicable under this plan?Type of charge Charge details DescriptionPremiumAllocationChargeYearAllocation Charge1 6.7%2 to 4 4%5 onwards 3.5%We deduct the shown percentage (inthe table to the left) from your premiumas Premium Allocation Charge. This isdeducted before we make anyinvestments or before we apply anyother charge.FundManagementCharge (FMC)Fund nameEquity 1Balanced 1Debt 1Annual rate1.35% p.a.1.35% p.a.1.35% p.a.We deduct FMC and applicable servicetax on a daily basis from the fund valuebefore calculation of the NAV (NetAsset Value).Index Tracker1.35% p.a.Value1.35% p.a.Liquid11.35% p.a.PolicyAdministrationChargeThe charges are 1.8% of first year’s premium perannum inflating by 5% every plan year. This issubject to a maximum of ` 6,000 p.a.We deduct a monthly administrationcharge by cancelling units in advance.We do this at the beginning of eachmonthly anniversary of the plan.Charges forDeath andAdditionalBenefit onDeath andDisabilityAnnual Charge is expressed in rupees per 1000sum at risk which is the Sum Assured. (Pleaserefer to Annexure 1 for indicative rates)In case of the Additional benefit being applicableas a result of disability, the charges will continueuntil the end of the waiting period but stopthereafter in case the disability claim is accepted.The death benefit charges will however continuefor the main death benefit but not the additionalbenefit.Deduction of the charge and applicableservice tax on the first business day ofeach plan month by way of cancellationof units.Note: Where AP is Annualised Premium and FV is Fund Value7

There are a few other charges that may be applicable on your plan if you choose to utilise some of the optionsavailable –DiscontinuanceChargeWhere thepolicy isdiscontinuedduring thepolicy year12Discontinuancecharge as apercentage ofannualised premiumfor plans havingannualised premiumup to `25,00020% subject tomaximum of`3,00015% subject tomaximum of`2,000Discontinuancecharge as apercentage ofannualised premiumfor plans havingannualised premiumabove `25,0006% subject tomaximum of`6,0004% subject tomaximum of`5,000The DiscontinuanceCharge is a percentage ofthe fund value we holdback, on discontinuing ofthe plan.No discontinuance value ispayable before completionof five plan years.Discontinuance charge isnot applicable aftercompletion of five planyears.3410% subject tomaximum of`1,5005% subject tomaximum of`1,0003% subject tomaximum of`4,0002% subject tomaximum of`2,000SwitchingCharge5 & above Nil NilYou may make two free switches a month/ 24 freeswitches in any plan year. We currently do not levy aswitching charge. However we reserve the right tointroduce charges.We levy the switchingcharge throughcancellation of units.PartialWithdrawalChargeThere are no partial withdrawal charges applicable. -RevivalChargeThere will be a charge of ` 500 on revival of the plan.We levy the revival chargeon reinstatement of the plan.What are the additional charges applicable?RevivalChargesSwitchingCharge,PremiumRedirectionChargeThere will be a charge of `500 onrevival/reinstatement of the plan. Thiscan go up to a maximum of `2,000,subject to prior approval from IRDA.Currently no charges are applicable.However we reserve the right tointroduce charges, subject to priorapproval from IRDA. This will notexceed ` 500 per transaction.How are charges recovered?Premium allocation charges are recovered from thepremium you pay us. It is deducted upfront from thepremium before any other charge deduction orinvestment allocation. In case of other charges wewill recover the same by cancellation of units at theprevailing unit price. The cancellation of units willbe effected in the same proportion as the value ofunits held in each fund, if you hold units in more thanone fund.8

Is service tax applicable? If yes, who bears it?Yes. Mortality and Fund Management Chargesmentioned above are exclusive of service tax and theapplicable cess. Service tax will have to be borne byyou, the policyholder.16. Your options if you miss paying thepremiums.If you miss paying your premiums, you are entitled toexercise one of the following options -Option 1: Revival of the plan, orOption 2: Complete withdrawal from the planwithout any risk cover.In case you have not paid your premiums, we will sendyou a notice within a period of 15 days from the date ofdiscontinuance of the plan and ask you to exerciseone of the options mentioned above, within a periodof 30 days.During this period your plan will be in force andmortality and other charges will continue to be applied.What are your options to revive the plan?You can revive your plan within 2 years from the date ofdiscontinuance but before completion of first 5 planyears by –• Simply paying the pending premium amount• Begin the payment of premiumsYou can revive your plan by paying of revival charge of` 500, Premium Allocation Charges and any medicalcosts. The revival is subject to satisfactory medical andfinancial underwriting. Upon revival of the plan, thediscontinuance charges, if any, already deducted shallbe added back to the discontinuance fund and the fundwill be used to purchase units at the NAV as on thedate of revivalAre there any constraints to revive your plan?Yes. You can revive your plan as long as you do it within45 days from the date of the discontinuance. Therevival is subject to satisfactory medical and financialunderwriting. The plan will discontinue, if you do notrevive your plan within 45 days.Is there a grace period for missed premiums?We provide you a grace period of 30 days for paymentof all premiums under six monthly and yearly mode..This period starts from the due date of each premiumpayment. All your plan benefits continue during thisgrace period.17. Can you discontinue your plan?You will have a maximum period of 30 days from thereceipt of the notice from us to exercise the followingoptions.Option 1: Revival of the plan, orOption 2: Complete withdrawal from the plan withoutany risk cover.If we have not received any communication from yourend within 30 days from the receipt of the notice byyou, we will believe it as your consent to exerciseoption 2 for complete withdrawal from the planwithout any risk cover.Discontinuance within first 5 years of the Plana. You miss your premiums and choose to revive yourplanIf you miss paying your premiums, the Fund Value ofthe Plan will be credited to the Discontinuance Fund afterdeducting discontinuance charges on the date ofdiscontinuance. Fund Management Charges @ 50 bps perannum will be deducted from the Discontinuance Fund.The minimum return on the fund will be equal to theinterest rates on savings bank account offered by StateBank of India or as prescribed by IRDA from time totime.You may choose to revive your plan within 2 years fromthe date of discontinuance but before completion offirst 5 plan years subject to submission of evidence ofhealth to our satisfaction. Depending on evidence ofhealth as required by the company, we shall have theright to refuse your request for revival or put suchconditions or extra charges as may be deemed fit. Inorder to revive the plan, you need to pay all duepremiums that have been missed along with anycharges that was due. Upon revival of the plan, thediscontinuance charges already deducted shall beadded back to the discontinuance fund and the fundwill be used to purchase units at the NAV as on thedate of revival.9

. You wish to discontinue your planThe fund value of the plan will be credited to thediscontinued plan fund, The amount of thediscontinued plan will be refunded only upon thecompletion of the fifth plan year after deductingdiscontinuance charges on the date of discontinuance.The income earned on the fund value will beapportioned to the discontinued plan fund. Theminimum return on the fund will be equal to theinterest rates on savings bank account offered by StateBank of India or as prescribed by IRDA from timeto time.In case of death of the life insured after the fund valueof the policy credited to the discontinuance policyfund, the discontinuance policy fund value as on dateof receiving intimation of death will be paid and theplan will be closed.No benefit will be payable in case of disability of the lifeinsured after the fund value of the policy credited to thediscontinued policy fundDiscontinuance within after 5 years of the PlanIf you choose to discontinue your plan after five planyears, the fund value as on date of discontinuance willbe payable to you.18. Can you move from this plan to anyother plan of IndiaFirst Life Insurance?If at any point you would like to opt out of this plan and1invest into another Unit Linked plan of IndiaFirst LifeInsurance, we give you flexibility to do so. This option isavailable for existing policyholders after completion offive policy years from the date of commencement ofthe policy. Under this option, you can transfer policybenefits (surrender, maturity etc.) without anycharges, fully to another plan wherein portabilityoption is available.This option must be exercised at least 30 days beforethe date of the receipt of benefit under the policy. Theterms and conditions as specified in the opted policydocument would apply to the policy holder opting forthe ‘Portability Option’. The new plan will be offeredonly on the life of the policyholder or life assured underthe existing plan. This plan allows policyholders totransfer policy benefits from another Unit Linked planwhere portability options are allowed.In case the policyholder opts for the Portability option,a new contract will be issued on either the maturity ofthe old contract or on surrender/termination of the oldcontract.19. Can you avail of a loan under this plan?Yes. You can avail of a loan under this plan. Theconditions for the same are as follows:Before completion of 5 years:The maximum loan amount shall not exceed 40% ofthe surrender value in those policies where equityaccounts for more than 60% of the total share andshall not exceed 50% of the surrender value of thosepolicies where debt instrument accounts for morethan 60% of total share. In case surrender value at anytime is less than loan outstanding plus accruedinterest, then plan terminates. The company isallowed to charge interest rate on such loan and thebasis of interest rate will be SBI base rate plus 7.00%.On or after completion of 5 years:Loans are not available.20. Can you cancel your plan?Yes you can cancel your plan if you disagree with anyof the terms and conditions within the first 15 days(free look period) of the receipt of your plandocument. You can return the plan to us, while statingyour specific objections.Do you get any refund when you cancel your plan?Yes. We will refund an amount equal to the -Premium paidLess: i.ii.Pro-rata death benefit and Additional BenefitChargesAny stamp duty paidiii. Expenses incurred on medical examination, if anyThis amount is adjusted by the fund performancebetween the date of receipt of premium and the dateof cancellation.1Only applicable on plans without any implicit/explicit guarantees; not applicable on pension plans.2Effective from 18th August, 201110

21. How do we value the units of your plan?We will value your units in line with the unit linkedguidelines issued by the IRDA. As per the prevailingguidelines of the Authority, Unit Price will be2calculated as follows –Market value of the investment held by the fundPlus: value of current assetsLess: value of current liabilities and provisions, if any,Divided: by the number of units existing on thevaluation date (before creation/redemption of units).When divided by the total number of units in the fundat the valuation date (before any units are redeemed),we get the unit price of the fund under consideration.22. Allocation of premiums to unitsWhen and how does your premium getallocated to units in your plan?The allotment of units to you, the policyholder will bedone only after we receive the premium amount. Thepremium allocation to the units varies according to thefollowing situations -NewbusinessRenewalpremiumsWe will allocate new units on theday we receive premiums if wereceive these before 3:00 p.m. Theyare allocated the next day if wereceive them after 3:00 p.m.We will allocate the premium on thedue date, when it has been receivedbefore the due date. (This assumesthat the full stipulated premium isreceived on the due date). We willkeep the renewal premiumsreceived before the due date in thedeposit account. It will not earn anyreturns until the renewal premiumdue date. On the due date, we willuse the same for unit fundsHow do we value your units at the time ofrenewals and redemptions of your premiums?We will value your units in line with the unit linkedguidelines issued by the IRDA.For renewalpremiums/funds switchreceived till3:00 p.m.For renewalpremiums/funds switchreceived after3:00 p.m.For outstationcheques/demanddraftsWe will apply the closing unit priceof the day on which your renewalpremium/ funds switch isreceived. This can happen only ifwe receive it by 3.00 p.m. alongwith a local cheque or a demanddraft payable at par at the placewhere the premium is received.We will apply the closing unitprice of the next business day ifw e r e c e i v e y o u r r e n e w a lpremiums after 3.00 p.m. This hasto be accompanied with a localcheque or a demand draft payableat par at the place where thepremium is received.If the cheque you issue forpremium renewal is an outstationcheque/demand draft, we willapply the closing unit price of theday on which cheques/demanddraft is realised.Note: We will not accept any amount less than the dueregular premium payable stated in the contract.23. Broad risks with your planIs your plan prone to risks? If yes, who bears therisk?Yes your plan does carry risks.• The premium paid in unit linked plans are subject toinvestment risks associated with capital markets.The value of the units may go up or down based onthe performance of the fund. Other factorsinfluencing the capital market affect the value of theunits. Hence you, as the policyholder areresponsible for all your decisions.11

• IndiaFirst Life Insurance Company Limited is thename of our insurance company. IndiaFirst YoungIndia Plan is only the name of our plan and does notin any way indicate the quality of the plan, its futureprospects or returns.Do you get guaranteed returns from any of thefunds mentioned in your plan?• No. None of our funds (Equity 1, Debt 1, Balanced 1,Liquid1, Index Tracker, Value fund) offer aguaranteed or assured return• Equity 1 fund, Debt 1 fund, Balanced 1 fund, Indextracker fund, Value fund and Liquid 1 fund are thenames of the funds offered currently with IndiaFirstYoung India Plan. They do not indicate the quality ofthe respective funds, their future prospects orreturns, in any manner.Does the past performance of your planguarantee future performance as well?The past performance of our other funds does notnecessarily indicate the future performance of any ofthese funds.24. What happens in case the life assuredcommits suicide?If the life assured commits suicide, the death benefitwe will pay will be limited to the fund value. It will notinclude the insured benefits. This applies if the deathby suicide occurs within 12 months from the date ofrisk commencement or date of revival of this plan. Thisis irrespective of whether the life assured, was sane orinsane at the time death.25. Your are prohibited from acceptingrebate in any form:Prohibition of Rebate: Section 41 of theInsurance Act, 1938 states• No person shall allow or offer to allow, either directlyor indirectly, as an inducement to any person to takeout or renew or continue an insurance in respect ofany kind of risk relating to lives or property in India,any rebate of the whole or part of the commissionpayable or any rebate of the premium shown on thePolicy, nor shall any person taking out or renewingor continuing a Policy accept any rebate, exceptsuch rebate as may be allowed in accordance withthe published prospectuses or tables of the insurer• Any person making default in complying with theprovisions of this section shall be punishable with afine which may extend to five hundred rupees26. What happens in case of submissionof information which is false or incorrect?Indisputability Clause: Section 45 of theInsurance Act, 1938 states• No policy of Life Insurance shall, after the expiry oftwo years from the date on which it was effected, becalled in question by an Insurer on the ground that astatement made in the proposal for insurance or anyreport of a medical officer or referee or friend of theInsurer or in any other document leading to theissue of the Policy, was inaccurate or false, unlessthe insurer shows such statement Was on materialmatter or suppressed facts which it was material todisclose and that it was fraudulently made by thepolicy holder and that the policy holder knew at thetime of making it that the statement was false orthat it suppressed facts which it was material todisclose. Provided that nothing in this section shallprevent the insurer from calling for proof of age atany time if he is entitled to do so, and no policy shallbe deemed to be called in question merely becausethe terms and conditions of the policy are adjustedon subsequent proof that that the age of the lifeinsured was incorrectly stated in the proposal.27. About IndiaFirst life insuranceIndiaFirst Life Insurance Company Limited is a jointventure of Bank of Baroda, Andhra Bank and Legal &General Group (UK).Bank of Baroda is one of the largest public sector bankin the country with an enviable network of over 3900branches that spreads across the geography of Indiaand over 70 branches across 25 countries globally.This behemoth financial institution is over 100 yearsold and has been built on financial prudence, corporate12

governance and most importantly – the trust ofvaluable customers like you.Andhra Bank has been serving the Indian customer forover 89 years and currently has a network of over 1716branches. The bank has developed best in classdeposit and lending schemes for its valued customers.Both the banks are nationalised and provide best inclass products and services to every Indian citizen.Legal & General Group is one of UK’s leading financialinstitutions with a heritage of over 150 years. Itprovides life assurance, pensions, investments andgeneral insurance plans to over 5.5 million customersacross UK. It brings rich fund management andinsurance experience to India.AgelastMalesbirthdayRateAnnual Mortality ChargeAgelastMalesbirthdayRateAgelastbirthdayMalesRate18 1.53 39 2.85 60 18.1619 1.58 40 3.10 61 20.0020 1.63 41 3.34 62 22.0921 1.67 42 3.57 63 24.4422 1.71 43 3.84 64 27.0423 1.74 44 4.17 65 29.1324 1.76 45 4.5625 1.79 46 5.0226 1.80 47 5.5427 1.82 48 6.1328 1.82 49 6.7829 1.83 50 7.5030 1.83 51 8.2831 1.85 52 9.1232 1.90 53 10.0333 1.97 54 11.0034 2.06 55 12.0335 2.17 56 13.1336 2.30 57 14.1637 2.46 58 15.2438 2.64 59 16.57Standard Annual Additonal Benefit ChargeStandard waiver charges per ` 1,000 of sum at risk:AgeLast BirthdayStandard Additional Benefit charges per ` 1,000 of sumat risk:MalesRateAgeLast BirthdayMalesRate18 1.80 42 3.8419 1.85 43 4.1120 1.90 44 4.4421 1.94 45 4.8322 1.98 46 5.2923 2.01 47 5.8124 2.03 48 6.4025 2.06 49 7.0526 2.07 50 7.7727 2.09 51 8.5528 2.09 52 9.3929 2.10 53 10.3030 2.10 54 11.2731 2.12 55 12.3032 2.17 56 13.4033 2.24 57 14.4334 2.33 58 15.5135 2.44 59 16.8436 2.57 60 18.4337 2.73 61 20.2738 2.91 62 22.3639 3.12 63 24.7140 3.37 64 27.3141 3.61 65 29.40For females above age 17 apply a three year agereduction to the above. However, for females aged 18to 20 apply the rate as at age 18. The above rates are forstandard lives. Substandard lives may have a loadingapplied in accordance with the underwriting policy.For females above age 17, apply a three year agereduction to the above. However, for females aged 18to 20 apply the rate as at age 18. The above rates are forstandard lives. Substandard lives may have a loadingapplied in accordance with the underwriting policy.13

Disclaimer: Unit-linked life insurance products are different from the traditional insurance products and are subjectto risk factors. Premiums paid in unit-linked life insurance policies are subject to investment risks associated withcapital markets and NAVs of the units may go up or down, based on the performance of fund and factors influencingthe capital market and the insured is responsible for his/her decisions.IndiaFirst Life Insurance Company Limited is only name of the Insurance Company and IndiaFirst Young India Planisonly the name of the unit-linked life insurance contract and does not in any way indicate the quality of the contract,its future prospects, or returns. The various funds offered under this contract are the names of the funds and do not inany way indicate the quality of these plans, their future prospects and returns.Please know the associated risks and the applicable charges from your Insurance Agent or the Intermediary.Under this plan, some benefits are guaranteed and some benefits are variable with returns based on the futureperformance of your Insurer carrying on life insurance business. If your policy offers guaranteed returns then thesewill be clearly marked “guaranteed” in the Sales/Benefit illustration table. If your policy offers variable returns thenthe Sales/Benefit illustrations will show two different rates of assumed future investment returns. These assumedrates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the valueof your policy is dependent on a number of factors including future investment performance.14

Insurance is the subject matter of the solicitationProduct UIN No - 143L011V01Registered and Corporate Office Address:IndiaFirst Life Insurance Company Limited,301, 'B' Wing, The Qube, Infinity Park,Dindoshi - Film City Road,Malad (East), Mumbai - 400 097.Website: www.indiafirstlife.comRegistration No.: 143Toll Free No.: 1800 209 8700SMS to 5667735, SMS charges apply.Advt. Ref. No.: SB0010