IndiaFirst Life Plan is a non-participating plan. You can enjoy a life cover of 40 years at an affordable cost in addition to guaranteed lump sum benefit and tax benefits. By availing of the IndiaFirst Life Plan, you can provide a protective cushion to your family in case of your untimely demise.
The salient features of this term insurance plan are listed below:
The following are the main benefits of the plan
Madhav Kishore, a 30-year-old IT employee opt for IndiaFirst for a sum assured of Rs.1 lakh for a policy term of 10 years under a single premium payment mode. In the unfortunate event of Kishore's death within the policy term, his nominee/legal heir will receive the . The plan will stand terminated after payment of the death benefit.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
No. There are no survival benefits offered under this plan
You can choose to revive the plan within 2 years of the last unpaid premium by paying the pending premiums and starting the regular payment of premiums.
The maximum sum assured under this plan is Rs.Rs.50,00,00,000
Surrender value is payable under the single premium mode if you surrender the plan after the third year. The formula is 40% x premium paid x unexpired term/total term)
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