Money Back Health Insurance Plan Vs Young India ... - Life Insurance

IndiaFirst Money Back Health Insurance Plan Vs IndiaFirst Young India PlanPlan/ParameterHospitalisation BenefitIndiaFirst Money Back HealthInsurance Plan1. Hospitalization of insured is coveredup to 1 % of the annual Sum Insured,IndiaFirst Young India PlanNot Applicablemaximum of Rs. 5000/‐ per day.2. Room, boarding and nursingexpenses as charged by the hospitalwhere the insured availed medicaltreatment subject to the limit mentionedabove.3. ICU / ICCU is covered up to 2% ofthe annual Sum Insured or Rs.10,000 /‐ per day whichever is less.4. Pre & Post Hospitalization Cover -30days/60daysDay Care Procedures 195 Not ApplicableMaturity BenefitFund Value as lump sum or defer thematurity period through SettlementOptionFund Value as lump sum or deferthe maturity period through theSettlement Option

Death BenefitNeed FulfillmentFund value as well as the proportionatemorbidity charge for the uncoveredperiod, in case of unfortunate demiseof primary life assured, and the planterminates.Proportionate morbidity charge for theuncovered period will be added back tothe fund and the plan will continue tobe in force for the other life assured.Comprehensive unit linked healthinsurance plan, where you can coveryourself and your family under oneplan. This plan also has a savings partattached to it, where you can invest ina variety of funds for optimum returns.This money accumulates in your fundand comes back to you on maturity orwhen you may need it over and aboveyour insurance limits for healthexpenses you may incur beyond thereimbursable amounts or for ineligiblehospital expenses.Sum Assured + Additional Benefit(as chosen by the life insured );Option 1: Fund Value + Sum of allfuture premiums as lump sumpayable immediately and the policyterminatesorOption 2: Sum of all futurepremium invested as lump sum increating units under Funds and thefund value is payable at maturityThe right plan to ensure that yourchild or loved one receives funds atevery momentous occasion in his/her life as planned by you - be ithigh school/ college/ professionalcourse or any other life events!.The plan offers you a life covercombined with systematic savingsand investment in market linkedinstruments based on your riskappetite. You also have theadditional inbuilt benefit offor‘Waiver of Future Premium’.Type of Plan Unit Linked Health Insurance Plan Unit Linked Insurance PlanRetirement Benefits Not Applicable Not ApplicablePlan/ParameterIndiaFirst Money Back HealthInsurance PlanIndiaFirst Young India PlanAdditional Rider No additional rider No additional riderMinimum Sum Assured Rs 1,50,000 (Individual/ Family Floater) 105% of (Premium Paying Term *Annualized Premium)Plan TermRegular Premium: 10 yearsSingle Premium: 5 yearsRegular Premium: 10/ 15/ 20/ 25years

Minimum PremiumPrimary Life Assured:Regular Premium: Up to age 45 yearslast birthday – Rs 10,000 ; Between 46and 60 years last birthday – Rs 14,200Single Premium: Up to age 45 years lastbirthday – Rs 30,000 ; Between 46 and60 years last birthday – Rs 37,500Regular Premium: Rs. 12,000(Yearly)Minimum Age At EntryAdditional Life Assured:Regular Premium: Rs 900Single Premium: Rs 9400Primary Life Assured: 18 years as onlast birthdaySpouse and Parents: 18 years as onlast birthdayChildren: 90 days18 years as on last birthdayLoan Facility Before 5 years: Maximum loan amount -a) 40% of the surrender value in thosepolicies where equity accounts for morethan 60% of the total shareb) 50% of the surrender value of thosepolicies where debt instrument accountsfor more than 60% of total shareAfter 5 years: Not allowedBefore 5 years: Maximum loanamount –a) 40% of the surrender value inthose policies where equityaccounts for more than 60% of thetotal shareb) 50% of the surrender value ofthose policies where debtinstrument accounts for more than60% of total shareAfter 5 years: Not allowedPartial WithdrawalWithdraw partially after the fifth planyear. Partial Withdrawal is not allowedprior to completion of 5 plan years.However, in case of any hospitalizationor day care benefit exceeds the sumassured eligible or in case of anyineligible hospitalization benefit, thebalance amount or applicable theamount as the case may be can be takenfrom the fund value subject to withdrawalcap of up to cap of 10% of the fund valuein a year.Withdraw partially after the fifthplan year. Partial Withdrawal is notallowed prior to completion of 5plan years. The minimum amountthat you can withdraw partially isRs 5,000.

Maximum Age At EntryMaximum Age At MaturityPrimary Life Assured: 60 years as onlast birthdaySpouse and Parents: 65 years as onlast birthdayChildren: 24 yearsPrimary Life Assured: 70 years as onlast birthdaySpouse and Parents: 75 years as onlast birthdayChildren: 25 yearsPremium Paying Modes Regular Premium - YearlySingle Premium - One timeMaximum Sum AssuredRs 5,00,000 (Individual);Rs 1,000,000 (Family Floater)55 years as on last birthday65 years as on last birthdayRegular Premium: Six monthlyand yearlyRegular Premium:40 * AP (Age < 45 yrs).30 * AP (Age 46 – 50 yrs).25 * AP (Age 51 – 55 yrs).20 * AP (Age 56 – 60 yrs).LimitedPremium:25 * AP (Age < 45 yrs ).15 * AP (Age 46 – 50 yrs ).11 * AP ( Age 51 – 55 yrs ).11 * AP ( Age 56 – 60 yrs ).SinglePremium:5 * AP (Age < 45 yrs ).5 * AP (Age 46 – 50 yrs ).1.1 * AP ( Age 51 – 55 yrs ).1.1 * AP ( Age 56 – 60 yrs ).Plan/ParameterIndiaFirst Money Back HealthInsurance PlanDebt (Max) Balanced1 Fund: 30% to 50%Debt1 Fund: 70% to 100%IndiaFirst Young India PlanBalanced1 Fund: 30% to 50%Debt1 Fund: 70% to 100%Equity (Max) Equity1Fund: 80% to100%Index Tracker Fund: 90% to 100%Balanced1 Fund: 50% to 70%Value Fund: 70% to 100%Money Market (Max) Equity1 Fund: 0% to 20%Balanced1 Fund: 0% to 20%Debt1 Fund: 0% to 30%Equity1 Fund: 80% to 100%Index Tracker Fund: 90% to 100%Balanced1 Fund: 50% to 70%Value Fund: 70% to 100%Equity1 Fund: 0% to 20%Balanced1 Fund: 0% to 20%Debt1 Fund: 0% to 30%

Index Tracker Fund: 0% to 10%Value Fund: 0% to 30%Index Tracker Fund: 0% to 10%Value Fund: 0% to 30%Investment FundsEquity1 Fund , Debt1 Fund , Balanced1Fund , Value Fund , Index Tracker Fund ,Liquid1 Fund .Equity1 Fund, Debt1 Fund,Balanced1 Fund, Value Fund,Index Tracker Fund, Liquid1 FundIndiaFirstYoungIndiaPlan.Equity(max)=Equity1 Fund, Debt1 Fund,Balanced1 Fund, Value Fund,Index Tracker Fund, Liquid1 FundPlan/ParameterFund Management Charges 1.35% p.aIndiaFirst Money Back HealthInsurance PlanIndiaFirst Young India Plan1.35% p.aPremium RedirectionChargesNo ChargesNo ChargesSwitching Charges Free for 24 switches a year 24 free switches a yearPremium AllocationChargesPolicy AdministrationChargesRegular Premium:1 st year – 13%2 nd year onwards – 2%Single Premium:2%Regular Premium - 1.8% of first year’spremium p.a inflating by 5% every planyear, subject to a maximum of Rs. 6,000per annum.Single premium - 1.20% of the singlepremium for the first ten years and0% thereafter, subject to a maximum ofRs. 6,0001st year: 6.70%2nd yr - 4th yr: 4.00%5th yr onwards: 3.50%Regular Premium: 1.8% of firstyear’s premium p.a inflating by 5%every plan year, subject to amaximum of Rs. 6,000 p.a.Single premium: 1.2% subject tomax. if Rs. 6,000. of the singlepremium for the first ten year's &0% thereafter.

Plan/ParameterDiscontinuance/SurrenderChargesIndiaFirst Money Back HealthInsurance PlanDiscontinuance charge for planshaving annualised premium up to Rs.25,000IndiaFirst Young India PlanDiscontinuance charge for planshaving annualized premium upto Rs. 25,000Yr1- Lower of 20%* (AP or FV) subject tomax. of Rs.3000;Yr2- Lower of 15%* (AP or FV) subject tomax of Rs.2000Yr3 -Lower of 10%* (AP or FV) subject tomax of Rs.1500Yr4 -Lower of 5%* (AP or FV) subject tomaximum of Rs.1000Yr5- & above NilDiscontinuance charge for planshaving annualised premium above Rs.25,000Yr1-Lower of 6%* (AP or FV) subject tomaximum of Rs.6000Yr2-Lower of 4%* (AP or FV) subject tomaximum of Rs.5000Yr3-Lower of 3%* (AP or FV) subject tomaximum of Rs.4000Yr4-Lower of 2%* (AP or FV) subject tomaximum of Rs.2000Yr5 - NilYear 1: Lower of 20% * (AP or FV)subject to a maximum of Rs. 3,000Year 2: Lower of 15% * (AP or FV)subject to a maximum of Rs. 2,000Year 3: Lower of 10% * A20 (AP orFV) subject to a maximum ofRs.1,500Year 4: Lower of 5% * (AP or FV)subject to a maximum of Rs. 1,000Year 5 and above: NilDiscontinuance charge for planshaving annualized premiumabove Rs. 25,000Partial Withdrawal Charges No Charges No ChargesMinimum PartialWithdrawalsMaximum PartialWithdrawalsRs. 5,000 (after completion of 5 policyyears)Regular Premium: Up to 25% of thefund value, only if your fund is left with aminimum balance equal to 110% of yourannual premium after the withdrawalSingle Premium: Not ApplicableYear 1: Lower of 6% * (AP or FV)subject to a maximum of Rs. 6,000Year 2: Lower of 4% * (AP or FV)subject to a maximum of Rs. 5,000Year 3: Lower of 3% * (AP or FV)subject to a maximum of Rs. 4,000Year 4: Lower of 2% * (AP or FV)subject to a maximum of Rs. 2,000Year 5 and above: NilRs. 5,000 (after completion of 5policy years )Up to 25% of the fund value only ifyour fund is left with a minimumbalance equal to 110% of yourannual premium after thewithdrawal