IndiaFirst Life launches Moneyback Health Ulip.

Wednesday 10, August, 2011 IndiaFirst Life has launched the unitlinked Money-back Health Insurance Plan, the second such product in the market after LIC's HealthPlus. It is an indemnity-based plan - the insurer will reimburse the expenses incurred on hospitalisation, subject to the sublimits and other conditions. You can choose between five fund options. FEATURES: It is available as individual and family floater plans. The floater plan covers the policyholder, spouse, two children and two parents. The policyholder will be the 'primary life assured', and others will be referred to as 'other life assured'. Upon the death of the 'primary life assured', the benefits are paid out and the policy ceases to exist. The policyholder can nominate a beneficiary to receive the sum assured in case of his/her death. The maximum entry age is 60 years and a policyholder cannot be over 70 at the end of the tenure. The maximum ages of parents at inception and maturity should be 65 years and 75 years, respectively. Children are covered till they turn 25.

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