Andhra Bank

ABHAYA FIRST WEALTH PACK

“Abhaya First Wealth Pack” has combined features of four products

Recurring Deposit – fetches fixed maturity value at the end of the term
Savings Bank Account – easy liquidity facility by accessing through ATMs
Unit Linked Plan –investment in Unit Linked Plan (Equity Option) fetches market linked returns
Life Insurance Cover- Life Insurance cover available

"Abhaya First Wealth Pack” - three denominations are available

Abhaya First Wealth Pack - Silver - Rs. 25,000/-
Abhaya First Wealth Pack – Gold - Rs. 50,000/-
Abhaya First Wealth Pack – Platinum - Rs. 100,000/-

Eligibility :

Entry Age is 18-59 yrs.

Term :

10 years with annual Installments

Mode of operation :

Single (Joint Accounts not permitted)

Nomination

Compulsory

Bifurcation of Investments under three Packs

Products	Abhaya First Wealth Pack-Silver	Abhaya First Wealth Pack-Gold	Abhaya First Wealth Pack-Platinum
Customer should maintain required balance on or before renewal date to meet the yearly installments (Total Ten Annual Installments)	Rs. 25,000/- (Annual Installment )	Rs. 50,000/- (Annual Installment)	Rs. 1,00,000/- (Annual Installment )
Following Products will be sold to the Customer and annually the amount will be appropriated as under:
Proposed new “Recurring Deposit Account” ( annual Installment for 10 years)	Rs. 10,000/-	Rs. 20,000/-	Rs. 50,000/-
India First Smart save Plan (ULIP)	Rs. 12,000/-	Rs. 24,000/-	Rs. 40,000/-
Proposed Balance in new “Savings Bank Account” (with inbuilt feature of availability of Group Term Life Insurance cover)	Rs. 2,250/-	Rs. 4,900/-	Rs. 8,100/-
Payment of Insurance premium towards Group Term Life Insurance Cover available in Savings Bank Account.	Rs. 750/- (Insurance cover available Rs2.00 lacs)	Rs. 1,100/- (Insurance cover available Rs3.00 lacs)	Rs. 1,900/- (Insurance cover available Rs5.00 lacs)
* Life Cover available under AFWP :	Rs. 400000/-	Rs. 600000/-	Rs. 1000000/-
Age Group
18 -50 yrs
51-55 yrs	Rs. 400000/-	Rs. 564000/-	Rs. 940000/-
56 – 59 yrs	Rs. 400000/-	Rs. 564000/-	Rs. 940000/-

* Life Cover / Sum Assured in case of unfortunate death of the account holder include total insurance coverage available under Savings Bank Group Term Insurance Coverage and Smart Save Plan collectively apart from the fund value.

This product has been specially designed to provide high yield, safe and steadily growing investment portfolio and Group Term Insurance, bundled under “Abhaya First Wealth Pack”.

Annually administrative charges of Rs. 80/- / Rs. 100/- / Rs. 150/- are applicable on Silver / Gold / Platinum packs respectively towards Group Term Life Insurance Coverage
On completion of 10 yrs term and subject to payment of all installments regularly the customer will receive -

Product	Maturity Proceeds
Abhaya First Wealth Pack Savings Deposit	Outstanding Balance in the account
Abhaya First Recurring Deposit	Maturity Proceeds of Recurring Deposit Account
Smart Save Plan	At the end of the plan term, the policyholder receives the fund value. The policyholder can opt – The entire fund value as a lump sum payment.
	Settlement Option – in the form of installments over a period of time. During this period, the fund management and policy administration charges will be charged.
Group Term Life Plan coverage	No amount is payable as it is payable only in case of demise of the account holder.

“Abhaya First Wealth Pack” is available in all our branches.
The amount paid towards insurance premium is admissible for deduction under Section 80C in Income Tax Act..
Tax benefits are subject to tax laws from time to time. Please consult your tax advisor / financial advisor for further details..
Insurance premium shall be payable on the date of opening of Account and renewal premium on the respective date in the next year and subsequent years by giving Standing Instructions at the branch.
Recurring Deposit Account and Savings Bank Account are offered by Andhra Bank and are subject to Bank’s terms and conditions. Please visit Andhra Bank website www.andhrabank.in
The India First Smart Save Plan (Unit Linked Insurance Plan) and Group Term Plan are offered by IndiaFirst Life Insurance Company Limited and will be subject to underwriting norms of the company and subject to the respective policy terms and conditions.
In Unit Linked Insurance Plan (ULIP), the investment risk in the investment portfolio will be borne by the Policyholder.
The premiums paid in the unit linked life insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down, based on the performance of the fund and factors influencing the capital market and the Insured is responsible for his / her decisions.
Please know the associated risks and the applicable charges in the insurance products, from your insurance agent or the intermediary. The premium and funds are subject to certain changes such as Premium Allocation Charge, Policy Administration Charge, Fund Management Charge and applicable Mortality Charges.
For more details on charges, risk factors, terms and conditions, please read the sales brochure for every product carefully before concluding the sale. Please visit IndiaFirst website – www.indiafirstlife.com for more details on applicable charges for the Insurance Plans.
Settlement of claim under the scheme rests with IndiaFirst Life Insurance Co Ltd and it will be settled as per the rules under respective schemes.
Andhra Bank is a Corporate Agent of IndiaFirst Life Insurance Company Limited. Corporate Agent License No. 5983988.
Insurance is the subject matter of solicitation.
Claims can be addressed to –

Claims team
IndiaFirst Life Insurance Company Ltd.
301, B wing, The Qube, Infinity Park,
Dindoshi – Film City Road,
Malad East, Mumbai 400097
Phone: 022- 33259553

claims.support@indiafirstlife.com
For any queries regarding Insurance product, pls. feel free to contact the IndiaFirst Life Insurance Company call centre at the following numbers 1800 209 8700.
For any queries regarding Bank products, pls. feel free to contact our Call centre at the following number 1800 425 1515.