Under this plan the investment risk in the investment portfolio is borne by the policyholder.

The linked insurance products do not offer any liquidity during the first five years of the contract. The
policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance
Products completely or partially till the end of the fifth year.

Stuck on the road to

financial freedom?
Push your way through...
IndiaFirst Smart Save Plan
(A Unit Linked, Non Participating, Life Insurance Endowment Plan)
How will this brochure help you? some terms you’re unfamiliar with, where possible,
we’ve explained these.
This brochure gives you details of how the policy
works throughout its lifetime. It’s an important We have used plain language that’s easy to
document to refer to. understand and believe this brochure is a good place
to start when planning your future under this
To help your understanding insurance contract.
We’ve done our best to explain everything as simply
as possible; however, you’re likely to come across

1
Introduction 2. What are the basic eligibility criteria in
Each of us wishes to secure our family, aspires to own this policy?
a house, dreams of exotic overseas vacations. We, at
Premium Payment Policy Term Premium
IndiaFirst recognize the significance of each of these
Option Paying Term
events and more. Hence, we bring to you the perfect
insurance plus savings plan to help you achieve Regular Premium 10 to 70 years Equal to the
Policy Term
your goals!
Limited Premium 10 to 25 years 5, 7 years
IndiaFirst Smart Save Plan offers you an insurance
cover on your life and also helps you grow and Single Premium 5 to 20 years One-time
develop a corpus through market linked returns. payment only

We help you save systematically and provide you the Parameter Minimum Maximum
flexibility of putting your money in different fund Age at entry 5 years 65 years
options, on the basis of your risk appetite. With (as on last birthday)
IndiaFirst Smart Save Plan, you can afford to dream...
Age at maturity 18 years 75 years
(as on last birthday)
Executive summary
Key features Life cover for the minor life starts at the end of two
years from the date of commencement of the policy
• You can build your savings systematically, through or at the first monthly policy anniversary after
various fund options attainment of age 18 years whichever is earlier. In
case the Life Assured is a minor, the policy will vest on
• The plan offers a life cover in case of the life the Life Assured on attainment of age 18 years. If the
assured’s untimely death Life Assured is a minor then, on death of Policyholder,
the Policy immediately and automatically vest in the
• You have the option of 4 funds across different surviving parent of the Life Assured.
asset classes, where you choose the proportion of
your premiums based on your risk appetite Premium Payment Option Premium Frequency
• You can make the most of your premiums by Regular/ Limited Monthly, Half Yearly,
‘switching’ or ‘redirecting your premium’ from one Premium Yearly
fund to another Single Premium Onetime payment
• Access your money in case of any financial only
emergency through partial withdrawals after the Minimum Monthly Half Yearly Yearly
completion of lock in period Premium
• This policy can be purchased through online 1Regular Premium ` 1,000 ` 6,000 ` 12,000
mode, at your convenience Limited Premium ` 1,250 ` 7,500 ` 15,000
• Tax benefit may be available on the premiums paid Single Premium - - ` 45,000
and benefits received as per prevailing tax laws#
Maximum No limit subject to
Premium underwriting
1. What is the IndiaFirst Smart Save Plan?
IndiaFirst Smart Save Plan is a Unit Linked, Non 3. How is the sum assured calculated?
Participating, Life Insurance Endowment Plan that
offers market linked returns along with the security of The calculation of the sum assured depends on the
a life cover. type of the policy you hold.

2
Minimum Sum Assured instalment under settlement option shall be payable
Regular and Limited 7 * Annualized Premium on the date of maturity. However, you have to opt for
Premium the Settlement Option at least 3 months prior to the
date of maturity.
Single Premium 125% of Single Premium
Does the life cover benefit continue during the
*Note: The Death Benefit at any point of time will not settlement period?
be less than 105% of the total premiums paid. Yes, in case of the Life Assured’s demise during
settlement period, we will pay the higher of fund value
Maximum Sum Assured as on the date of intimation of death or 105% of total
The maximum sum assured is set at ‘X’ times the premiums paid, to the Nominee / Appointee / Legal
Heir and the policy shall terminate immediately.
annualized/ single premium for regular premium, However, on complete withdrawal during settlement
limited premium and single premium plans. Here ‘X’ period life cover ceases immediately.
will be taken from the table below – Who bears the investment risk during the
settlement period?
Age For For For For For
The investment & inherent risks will be borne by the
band Regular Limited Limited Single Single policyholder during the settlement period.
Premium (5 yrs) (7 yrs) Premium Premium
Policies Premium Premium Policies Policies Are you allowed to make switches/ partial
Policies Policies (5 Term) (Other withdrawals during the settlement period?
than No, switches/ partial withdrawals are not allowed
5 Term) during the settlement period.
5-25 40 25 25 10 5.00
26-30 40 20 25 10 5.00 5. What happens in case of the Life
31-35 40 15 20 10 4.00 Assured’s demise?
36-39 35 10 15 10 2.00 In the event of the life assured’s demise while the policy
40-45 30 7 10 2 2.00 is in force or from the due date of first unpaid premium
till the expiry of the grace period, the Nominee /
46-65 7 7 7 1.25 1.25 Appointee/ Legal Heir, as the case may be, will receive
Where Annualized Premium means the premium the benefit under the policy equal to higher of fund
amount payable in a year excluding the taxes, rider value as on date of death or sum assured, either
premiums and underwriting extra premium on • As a lump sum payout; or
riders, if any. • As monthly instalments up to a period of 5 years, if
4. What do you receive at the end of the the policyholder has opted for the ‘Settlement
Option’ at inception of the policy. Nominee /
policy term? Appointee/ Legal Heir, as the case may be can ask
You receive the fund value at the end of the policy term. to withdraw the balance fund value at any time
What are the payout options at the end of the during the settlement period. No Partial
policy term? Withdrawals or switching of Funds will be allowed
during this period. In case of instalment payment of
On maturity you may choose to - death benefit, the instalment benefit amount will be
• Receive the entire fund value as a lump sum payout calculated as dividing lump sum amount (say, S) by
• Receive your maturity payout in monthly annuity factor ( i.e. a(n)(12)) i.e. S/a(n)(12) where n
instalments up to a period of 5 years, by opting for is the instalment period either 1,2,3,4, or 5 years.
the ‘Settlement Option’. During the Settlement The prevailing SBI savings bank interest rate as on
period, applicable fund management charges & date of death will be used to calculate the annuity
mortality charges will be applicable. The factor. Once the instalment payment starts, this
policyholder can ask to withdraw the balance fund payment remains level throughout the instalment
value at any time during the settlement period. period. The interest rate used to calculate annuity
When does the settlement period start? factor is subject to review at the end of every
Your settlement period starts from the maturity date financial year and will be changed in case of change
and is applicable up to a period of 5 years. First in SBI savings bank interest rate.
3
The amount will be paid out to the appointee if the What is the impact of partial withdrawals on
nominee is a minor. However, at any point of time, the death benefit?
death benefit will not be less than 105% of the total The sum assured/ paid up sum assured will be reduced
premiums paid during the policy term. by the amount equal to the partial withdrawals, if any
In case of paid-up policies, on death of the life made during the 24 months immediately preceding
assured, an amount equal to the higher of the paid-up the date of death of the life assured.
sum assured or fund value will be payable to the
Nominee/ Appointee/ Legal Heir, as per the payout 6. What are the tax benefits applicable
option selected by the policyholder at the inception under your policy?
of the policy. Tax benefits may be available on premiums paid and
In case of the life assured’s demise, where the Life benefits receivable as per prevailing Income Tax
Assured is a minor and the commencement of life Laws. These are subject to change from time to time
cover is yet to begin, the death benefit will be equal to as per the Government Tax laws. Please consult your
the Fund Value. tax consultant before purchasing this policy.

7. What are the different fund options available?

We provide you with 4 fund options. You may choose what percentage of premium you would like to allocate to
each of these funds.

Fund What does the fund do? Asset allocation Risk profile
name
Equity Debt Money
market
Equity1 (SFIN: Provides you high real rate of return in 80% 0% 0% High
ULIF the long term through equity. There is to to
009010910 a high probability though, of negative 100% 20%
EQUTY1FUN returns particularly in the short term.
D143)
Balanced1 Provides you returns that exceed the 50% 30% 0% Medium
(SFIN:ULIF rate of inflation in the long term. There to to to
011010910 is a moderate probability though, of 70% 50% 20%
BALAN1 negative returns in the short term.
FUND143)
Debt1 Provides you returns that exceed the 0% 70% to 0% to Medium
(SFIN:ULIF01 rate of inflation in the long term. There 100% 30%
001091 is a low probability of negative returns
0DEBT01FUN in the short term.
D143)
Value Provides you moderate to high real 70% 0% 0% to High
(SFIN:ULIF013 rate of return in the long term by to 30%
010910VALU higher proportion of equity. We will 100%
E FUND0143) try to provide long term capital
appreciation through equity shares
that are relatively undervalued to their
expected long term high earnings and
growth potential. There is a high
probability though, of negative returns
in the short term.

4
8. How do you move from one fund to risk in the short term. After five years, you have
additional responsibilities and do not wish to take high
another?
risks. You can change your preference by redirecting
You can move from one fund to another by switching future premiums to Debt1 or Balanced1 Fund which
or by redirecting your premium. have low to medium risks in the short term.
What is switching? 9. How can you protect your fund value
Under switching you may transfer some or all your from market fluctuations?
units from one unit linked fund to another.
You can protect your fund value from market
Are there any limits for switching? fluctuations by transferring your money to a ‘Liquid1’
Minimum switching amount ` 5,000 Fund during the last three years of your policy. A
reminder about this option will be sent to you three
Maximum switching amount Fund value years prior to the end of your policy term with further
What are the charges for switching between details about the same.
funds? How does the transfer of fund value to the
You are allowed to make only two switches in a Liquid1 Fund actually happen?
calendar month. Switches are free of charge. 3% of your fund value in each of the policy funds
However, the unused free switches cannot be carried will be automatically switched to the Liquid1 Fund
forward to the next calendar month. in each of the last thirty six monthly anniversaries
What is premium redirection? prior to end of the policy term.
Under premium redirection you can redirect your Does the proportionate allocation of
future premiums towards a different fund or set of remaining funds change on transfer to the
funds. However, under the premium redirection option
Liquid1 Fund?
your past allocation of premium does not change.
No. When we transfer your funds to the Liquid1 Fund,
Example: At the age of 30, you choose Equity1 Fund,
the ratio in which your remaining funds are allocated
which is prone to high returns in the long term and high
does not change.

How are funds deployed under the Liquid1 Fund?

Fund What does the fund do? Asset allocation Risk profile
name
Equity Debt Money
market
Liquid1 Provides steady returns achieved 0% 0% to 20% 80% to 100% Low
Fund through high proportion of money
market securities. There is a low
probability of negative returns in
the short term

5
10. Are partial withdrawals allowed? Are there any limits on partial
Yes. You may access your money in case of any withdrawals?
financial emergency, by withdrawing partially. Minimum withdrawal `5,000
Partial withdrawal is allowed after life assured
Maximum withdrawal Up to 25% of the fund
attains age 18 years. – Regular/ Limited value, only if your fund is
premium left with a minimum
Regular/ Limited I f y o u h a v e p a i d y o u r balance equal to 110% of
premium premiums for the first 5 years, your annual premium
you can withdraw your money after the withdrawal
partially after the fifth policy
Maximum withdrawal Fu n d v a l u e a f t e r t h e
year.
– Single premium withdrawal should not be
Single premium Yo u c a n w i t h d r a w a f t e r less than ` 45,000
completion of the fifth policy Example: You can withdraw up to ` 20,000 if you pay
year. an annual premium of ` 15,000 and have
accumulated a fund value of ` 80,000 over a few
years (25% of the fund value).
There are no partial withdrawal charges applicable.
11. What are the charges under this plan?
Type of charge Charge details Description
Premium Regular / Limited Premium We deduct the shown percentage
Allocation (in the table to the left) from your
Charge Yearly / Half – Yearly Monthly premium as Premium Allocation
Year 1 6.7% 5% Charge and applicable taxes. This
is deducted before we make any
Year 2 - 4 4% 4%
investments or before we apply
Year 5 + 3.5% 3.5% any other charge.
Single Premium
Single premiums are subject to a 2% allocation charge at
the time of payment.

Fund Fund Name Annual Rate We deduct FMC and applicable

Management taxes on a daily basis from the fund
Equity1 1.35% p.a.
Charge (FMC) value before calculation of the
Debt1 1.35% p.a. NAV (Net Asset Value).
Balanced1 1.35% p.a.
Value 1.35% p.a.

6
Policy For regular/ limited premium, the charges are 1.8% of first We deduct a monthly
Administratio year’s premium per annum inflating by 5% every policy administration charge and
n Charge year. This is subject to a cap of 5% of annual premium per applicable taxes on the first
annum or Rs 6,000 per annum whichever is lower business day of each policy month
For single premium business, the charges are 1.20% of the by cancelling units in advance. We
single premium for the first ten years and 0% thereafter. do this at the beginning of each
This is subject to a maximum of ` 6,000 per annum monthly anniversary of the policy.
Mortality Annual Mortality Charge is expressed in rupees per We deduct this charge and
Charges 1000 sum at risk which, is the sum assured/ less fund applicable taxes on the first
value subject to this becomes non-negative. business day of each policy month
Mortality charges for in force policies are levied on the sum at by way of cancellation of units.
risk, which is the sum assured or 105% of the total premiums
paid at any time whichever is higher less fund value less partial
withdrawal made during two years preceding the death of the
life assured, if any subject to this become positive.
Mortality charges for paid-up policies are levied on the sum at
risk which is the paid-up sum assured less partial withdrawal
made during two years preceding the death of the life assured,
if any less fund value subject to this become positive.
(Please refer to Annexure 1 for indicative rates)

There are a few other charges that may be applicable on your policy if you choose to utilize some of the
options available -
Discontinuance For Regular Premium or Limited Premium, then, we will levy the following Discontinuance
Charge Charges:
Where the Policy is Discontinuance Charge for Discontinuance Charge for
discontinued during Policies having Annualized policies having annualized
the Policy year Premium up to INR 25,000 as a premium above INR 25,000 as a
percentage of the Annualized percentage of the Annualized
Premiums or the Fund Value (as Premiums or the Fund Value (as
on the date of Discontinuance on the date of Discontinuance of
of Policy), whichever is lower Policy), whichever is lower
1 20%, subject to maximum of 6%, subject to maximum of INR
INR 3000 6000
2 15%, subject to maximum of 4%, subject to maximum of INR
INR 2000 5000
3 10%, subject to maximum of 3%, subject to maximum of INR
INR 1500 4000
4 5%, subject to maximum of 2%, subject to maximum of INR
`1000 2000
5 and onwards Nil Nil
For Single Premium, then, we will levy the following Discontinuance Charges:
Where the Policy is Discontinuance Charge for Policies having Single Premium above
discontinued during INR 25,000 as a percentage of the Single Premium or the Fund
the Policy year Value (as on the date of Discontinuance of Policy), whichever is
lower
1 1%, subject to maximum of INR 6000.

7
 2 0.50%, subject to maximum of INR 5000.
3 0.25%, subject to maximum of INR 4000.
4 0.1%, subject to maximum of INR 2000.
5 and onwards Nil
No discontinuance value is payable before the completion of five policy years.
Discontinuance charge is not applicable from the fifth policy year onwards.
Switching You may make only two switches in a calendar month. We currently do not levy a
Charge switching charge. However we reserve the right to introduce charges, subject to prior
approval from IRDA.
Partial There are no partial withdrawal charges applicable.
Withdrawal
Charge

12 . How are charges recovered? 15. What happens if you discontinue

Premium allocation charges are recovered from the paying your premiums?
premium you pay. It is deducted upfront from the Discontinuance of the Policy during the Lock-in-period
premium before any other charge deduction or
allocation. In case of other charges we will recover a) For Regular/ Limited premium policies, upon
the same by cancellation of units at the prevailing expiry of the grace period, in case of
unit price. discontinuance of policy due to non-payment of
premium, the fund value after deducting the
The cancellation of units will be effected in the same applicable discontinuance charges, shall be
proportion as the value of units held in the fund. credited to the discontinued policy fund and the
risk cover and rider cover, if any, shall cease.
13. Are taxes applicable under this plan? If
b) On such discontinuance, we will communicate the
yes, who bears it? status of the policy, within three months of the
Yes, we will deduct the applicable taxes in first unpaid premium, to the policyholder and
accordance with the applicable provisions of Indian provide the option to revive the Policy within the
tax laws on all the applicable charges levied by us Revival Period of three years
under this Policy. The taxes deducted by us in
i. In case the policyholder opts to revive but does
addition to the charges under the policy. The tax rates
not revive the policy during the revival period,
are subject to change basis any change in the
then the proceeds of discontinued policy fund
directives issued by the Government. shall be paid to the policyholder at the end of
14. Is there a grace period for missed the revival period or lock in period whichever is
later. In respect of revival period ending after
premiums? lock-in period, the policy will remain in
We provide you a grace period of 30 days for discontinuance fund till the end of revival
payment of all premiums under half yearly and period. The fund management charges of
yearly modes and 15 days under monthly mode. discontinued fund will be applicable during this
This period starts from the due date of each period and no other charges will be applied
premium payment. All your policy benefits ii. In case the policyholder does not exercise the
continue during this grace period. option as set above, the policy shall continue
without any risk cover if any, and the policy
fund shall remain invested in the
discontinuance policy fund. At the end of the

8
 l o c k- i n p e r i o d , t h e p r o c e e d s o f t h e iii. In case the policyholder opts to revive the
discontinuance fund shall be paid to the policy but does not revive the policy during the
policyholder and the policy shall terminate. revival period, the fund value shall be paid to
iii. However, the policyholder has an option to the policyholder at the end of the revival period.
surrender the policy anytime and proceeds of iv. In case the policyholder does not exercise any
the discontinued policy shall be payable at the option as set out above, the policy shall
end of lock-in period or date of surrender continue to be in reduced paid up status. At
whichever is later. the end of the revival period the proceeds of
c) In case of Single premium policies, the the policy fund shall be paid to the
policyholder has an option to surrender anytime policyholder and the policy shall terminate.
during the lock in period. Upon receipt of request v. However, the policyholder has an option to
for surrender, the find value, after deducting the surrender the policy anytime and proceeds of
applicable discontinuance charges, shall be the policy fund shall be payable.
credited to the discontinuance policy fund. The b. In case of Single Premium Policies, the policyholder
policy shall continue to be invested in the has an option to surrender the policy any time.
discontinuance policy fund and the proceeds from Upon receipt of request for surrender, the fund
the discontinuance fund shall be paid at the end of value as on date of surrender shall be payable.
the lock in period. Only fund management charge
can be deducted from this fund during this period. 16. How can you revive your policy?
Further, no risk cover shall be available on such
policy during the discontinuance period. Revival of the Discontinued Policy during lock-in period
a. Where the policyholder revives the policy, the
Discontinuance of the Policy after the Lock-in-period policy shall be revived restoring the risk cover,
a. For Regular/ Limited Premium Policies: along with the investments made in the
segregated funds as chosen by the policyholder,
i. Upon expiry of the grace period, in case of out of the discontinued fund, less the applicable
discontinuance of policy due to non-payment charges in accordance with the terms and
of premium after lock-in period, the policy shall conditions of the policy.
be converted into a reduced paid up policy with
b. At the time of revival:
the paid-up sum assured i.e. original sum
assured multiplied by the total number of i. all due and unpaid premiums will be collected
premiums paid to the original number of without charging any interest or fee.
premiums payable as per the terms and ii. premium allocation charge will be levied as
conditions of the policy. The policy shall applicable during the discontinuance period.
continue to be in reduced paid-up status No other charges shall be levied.
without rider cover, if any. All charges as per iii. the discontinuance charges deducted at the
terms and conditions of the policy may be time of discontinuance of the policy will be
deducted during the revival period. However, added back to the fund.
the mortality charges shall be deducted based Revival of the Discontinued Policy after lock-in period
on the reduced paid up sum assured only
a) Where the policyholder revives the policy, the
ii. On such discontinuance, the status of the policy shall be revived restoring the original risk
policy will be communicated, within three cover in accordance with the terms and
months of the first unpaid premium, to the conditions of the policy.
policyholder and provide the following options:
b) At the time of revival:
(1) To revive the policy within the revival period i. all due and unpaid premiums under base plan
of three years, or will be collected without charging any interest
(2) Complete withdrawal of the policy. or fee.
ii. premium allocation charge will be levied as
applicable.
iii. No other charges shall be levied.

9
17. Can you cancel your policy (free-look)? will be calculated as follows –
You can return your policy within the Free Look Market value of the investment held by the fund
period; In case you do not agree to the any policy Plus: value of current assets
terms and conditions, you have the option of
returning the policy to us stating the reasons thereof, Less: value of current liabilities and provisions, if any,
within 15 days from the date of receipt of the policy. Divided: by the number of units existing on the
The free-look period for policies purchased through valuation date (before creation/redemption of units).
distance marketing or electronic mode will be 30
When divided by the total number of units in the fund
days.
at the valuation date (before any units are
Do you get any refund when you cancel your policy? redeemed), we get the unit price of the fund under
Yes. We will refund an amount equal to the - consideration.
Non-allocated premium plus charges levied by
cancellation of units plus fund value at the date of 19. Allocation of premium to units
cancellation
Less: i. Pro-rata mortality charge When and how does your premium get allocated to
ii. Any stamp duty paid units in your policy?
iii. Expenses incurred on medical examination, The allotment of units to you, the policyholder will be
if any done only after we receive the premium amount. The
This amount is adjusted by the fund performance premium allocation to the units varies according to
between the date of receipt of premium and the date the following situations –
of cancellation.
Distance Marketing includes every activity of New We will allocate new units on the day
solicitation (including lead generation) and sale of Business we receive premiums if we receive these
insurance products through the following modes: (i) before 3:00 p.m. They are allocated
Voice mode, which includes telephone calling; (ii) the next day if we receive them after
Short Messaging service (SMS); (iii) Electronic mode 3:00 p.m.
which includes e-mail, internet and interactive
Renewal We will allocate the premium on the due
television (DTH); (iv) Physical mode which includes
Premiums date, whether or not it has been
direct postal mail and newspaper & magazine
received before due date. (This
inserts; and, (v) Solicitation through any means of
assumes that the full premium is
communication other than in person. received on the due date). We will keep
the renewal premiums received before
18. How do we value units in your policy? the due date in the deposit account. It
We will value your units in line with the unit linked will not earn any returns until the
guidelines/ and circulars issued by the IRDAI. As per renewal premium due date. On the due
the prevailing guidelines of the Authority, Unit Price date, we will use the same for unit funds.

10
How do we value your units at the time of renewals • The premiums are subject to certain charges
and redemptions of your premiums? related to the premium paid.
We will value your units in line with the unit linked • There may be fluctuations in returns and a
guidelines issued by the IRDA. possibility of increase in charges. However, any
increase in charges shall be subject to clearance
For renewal We will apply the closing unit from the Authority.
premiums/ price of the day on which your • IndiaFirst Life Insurance Company Limited is the
funds renewal premium/ funds
name of our insurance company. IndiaFirst Smart
switch/maturity switch/ maturity/ surrender is
/ surrender received. This can happen only if Save Plan is only the name of our plan and does
received till we receive it by 3.00 p.m. along not in any way indicate the quality of the plan, its
3:00 p.m. with a local cheque or a demand future prospects or returns.
draft payable at par at the place • Please know the associated risks and applicable
where the premium is received. charges from your Insurance agent or the
For renewal We will apply the closing unit Intermediary or policy document issued by us.
premiums/ price of the next business day if Do you get guaranteed returns from any of the funds
funds we receive your renewal mentioned in your policy?
switch/maturity premiums/ maturity/ surrender
/ surrender after 3.00 p.m. This has to be • No. None of our funds (Equity1, Debt1,
received after accompanied with a local Balanced1, Value or Liquid1) offer a guaranteed
3:00 p.m. cheque or a demand draft or assured return.
payable at par at the place where • Equity1 Fund, Debt1 Fund, Balanced1 Fund, Value
the premium is received. Fund or Liquid1 Fund are the names of the funds
For outstation We will apply the closing unit offered currently with IndiaFirst Smart Save
cheques/ price of the day on which Plan. They do not indicate the quality of the
demand drafts c h e q u e s /d e m a n d d ra f t i s respective funds, their future prospects or
realised if the cheque you issue returns, in any manner.
for premium renewal is an
outstation cheque/demand Does the past performance of your policy guarantee
draft. future performance as well?
The past performance of our other funds does not
Note: We will not accept any amount less than the necessarily indicate the future performance of any of
due regular/ limited premium payable stated in the these funds.
contract.
21. What happens in case the life assured
20. Broad risks with your policy commits suicide?
Is your policy prone to risks? If yes, who bears the risk?
In case of death due to suicide within 12 months from
Yes your policy does carry risks. the date of commencement of the policy or from the
• Linked insurance products are different from the date of revival of the policy, as applicable, the
traditional insurance products and are subject to Nominee/ Appointee/ Legal Heir, as the case may
the risk factors. be, shall be entitled to the fund value, as available on
• The premiums paid in unit linked insurance the date of intimation of death. Further any charges
policies are subject to investment risks other than Fund Management Charges recovered
associated with capital markets and the NAVs of subsequent to the date of death shall be added back
the units may go up or down based on the to the fund value as available on the date of
performance of the fund and other factors intimation of death.
influencing the capital market and the insured is
responsible for his/ her decision.

11
22. Nomination policy, whichever is later.
The member can appoint a nominee as per section 2) A policy of life insurance may be called in
39 of the Insurance Act, 1938 as amended from time question at any time within three years from the
to time. date of issuance of the policy or the date of
commencement of risk or the date of revival of the
For more details please refer to our website
policy or the date of the rider to the policy,
www.indiafirstlife.com
whichever is later, on the ground of fraud:
23. Assignment Provided that the insurer shall have to
As per the provisions of Section 38 of the Insurance communicate in writing to the insured or the legal
Act, 1938 as amended from time to time. representatives or nominees or assignees of the
For more details please refer to our website insured the grounds and materials on which such
www.indiafirstlife.com decision is based.
24. You are prohibited from accepting 3) Notwithstanding anything contained in sub-
section (2), no insurer shall repudiate a life
rebate in any form: insurance policy on the ground of fraud if the
Prohibition of Rebate: Section 41 of the Insurance insured can prove that the mis-statement of or
Act, 1938 as amended from time to time, states suppression of a material fact was true to the best
§ No person shall allow or offer to allow, either of his knowledge and belief or that there was no
directly or indirectly, as an inducement to any deliberate intention to suppress the fact or that
person, to take or renew or continue an insurance such mis-statement of or suppression of a
in respect of any kind of risk relating to lives or material fact are within the knowledge of the
property in India, any rebate of the whole or part insurer: Provided that in case of fraud, the onus of
of the commission payable or any rebate of the disproving lies upon the beneficiaries, in case the
premium shown on the Policy, nor shall any policyholder is not alive.
person taking out or renewing or continuing a 4) A policy of life insurance may be called in
Policy accept any rebate, except such rebate as question at any time within three years from the
may be allowed in accordance with the published date of issuance of the policy or the date of
prospectuses or tables of the insurer. commencement of risk or the date of revival of the
§ Any person making default in complying with the policy or the date of the rider to the policy,
provisions of this section shall be liable for a whichever is later, on the ground that any
penalty which may extend to ten lakh rupees. statement of or suppression of a fact material to
the expectancy of the life of the insured was
25. What happens in case of submission incorrectly made in the proposal or other
of information which is false or incorrect? document on the basis of which the policy was
issued or revived or rider issued: Provided that the
Fraud/ Misstatement would be dealt with in
insurer shall have to communicate in writing to
accordance with provisions of Section 45 of the
the insured or the legal representatives or
Insurance Act 1938, as amended from time to time.
nominees or assignees of the insured the grounds
Section 45 of the Insurance Act 1938, as amended
and materials on which such decision to
from time to time states
repudiate the policy of life insurance is based:
1) No policy of life insurance shall be called in Provided further that in case of repudiation of the
question on any ground whatsoever after the policy on the ground of misstatement or
expiry of three years from the date of the policy, suppression of a material fact, and not on the
i.e., from the date of issuance of the policy or the ground of fraud, the premiums collected on the
date of commencement of risk or the date of policy till the date of repudiation shall be paid to
revival of the policy or the date of the rider to the

12
 the insured or the legal representatives or founding partners. After journeying with us through
nominees or assignees of the insured within a our years of growth, Legal & General sold its stake in
period of ninety days from the date of such February 2019 to Carmel Point Investments India
repudiation. Private Limited, a body corporate incorporated
5) Nothing in this section shall prevent the insurer under the laws of Mauritius and owned by private
from calling for proof of age at any time if he is equity funds managed by Warburg Pincus LLC, New
entitled to do so, and no policy shall be deemed to York, United States. This is the first deal wherein a
be called in question merely because the terms of private equity fund has taken an interest in a life
the policy are adjusted on subsequent proof that insurance company. In April 2020, Andhra Bank
the age of the Life Insured was incorrectly stated was amalgamated into The Union Bank of India.
in the proposal. Our shareholding pattern as of today stands at:
Bank of Baroda – 44%, Union Bank of India – 30%
26. About IndiaFirst Life Insurance and Carmel Point Investments India Private
We’ve had Bank of Baroda, Andhra Bank (now, Limited – 26%.
Union Bank of India) and Legal & General as our

13
Standard mortality Rates per ` 1,000 of sum at risk for males:
Standard Annual Mortality Charge Rates
Age last birthday Males Rate Age last birthday Males Rate Age last birthday Males rate
5 1.45 31 1.44 57 12.46
6 1.12 32 1.49 58 13.43
7 0.87 33 1.55 59 14.46
8 0.71 34 1.63 60 15.58
9 0.61 35 1.72 61 16.80
10 0.57 36 1.83 62 18.15
11 0.57 37 1.95 63 19.63
12 0.61 38 2.10 64 21.26
13 0.68 39 2.26 65 23.06
14 0.76 40 2.45 66 25.04
15 0.85 41 2.67 67 27.23
16 0.93 42 2.92 68 29.62
17 1.01 43 3.22 69 32.24
18 1.08 44 3.56 70 35.11
19 1.13 45 3.95 71 38.25
20 1.18 46 4.40 72 41.66
21 1.22 47 4.91 73 45.38
22 1.24 48 5.48 74 49.43
23 1.26 49 6.11 75 53.82
24 1.28 50 6.78
25 1.29 51 7.50
26 1.30 52 8.26
27 1.32 53 9.04
28 1.34 54 9.85
29 1.36 55 10.68
30 1.40 56 11.55

For female lives an age set-back of 3 years shall be applicable for aged 21 last birthday and above for the purpose of
calculation of the premium rates. For female lives aged between 18 to 20 last birthday, male rate for age 18 shall be
applicable. No age discount will apply for female lives aged below 18 years.

14
Under this plan the investment risk in the investment portfolio is borne by the policyholder.
#
Tax exemptions may be as per applicable tax laws as amended from time to time.
Disclaimer: Unit-linked life insurance products are different from the traditional insurance products and are subject to risk factors.
The premiums paid in unit-linked life insurance policies are subject to investment risks associated with capital markets and NAVs of
the units may go up or down, based on the performance of fund and factors influencing the 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
Smart Save Plan is only 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 in any 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 or Policy Document issued by the insurance company. Under this plan, some benefits
are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance
business. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the Sales/Benefit illustration
table. If your policy offers variable returns then the Sales/Benefit illustrations will show two different rates of assumed future
investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might
get back, as the value of your policy is dependent on a number of factors including future investment performance. IndiaFirst Life
Insurance Company Limited, IRDAI Regn No.143, CIN: U66010MH2008PLC183679, Address: 12th & 13th floor, North Tower, Building
4, Nesco IT Park, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai – 400 063. Toll free No – 18002098700.
Email id: [email protected], Website: www.indiafirstlife.com. Fax No.: +912268570600. IndiaFirst Life Insurance
Company Limited is only the name of the Life Insurance Company and IndiaFirst Life Smart Save UIN 143L10V04 is only the name of
the Life Insurance Product and does not in any way indicate the quality of the contract, its future prospects, or returns. For more details
on risk factors and terms and conditions, please read the sales brochure carefully before concluding the sale. Trade logo displayed
above belongs to our promoters M/s Bank of Baroda and is used by IndiaFirst Life Insurance Co. Ltd under License. Advt. Ref. No.:
IndiaFirst Smart Save Plan/ Brochure/ E/ 01 .

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