IndiaFirst Term Insurance

offer protection in the truest sense and is a must have policy. These policies are purely meant to , the sole breadwinner of the family meets their demise. The term plans provide financial security to the family and loved ones of the policyholder and prevents further hardship such as financial commitments like mortgages or other loans from passing on to them and allows them to carry on with the lifestyle they were used to.

Types of IndiaFirst Term Plans:

IndiaFirst Life Plan

>IndiaFirst Anytime Plan

Features of IndiaFirst Term Plans:

• Policy cover ages for a period of 30 years providing ample security blanket
• The policies are easy to acquire and do not need the use of intermediaries. The policies can be bought online from their website
• The policy offers a surrender value for those policies that have a single premium payment term
• The policy offers flexibility in payment of premiums and provides grace periods to complete payment in case the due dates are missed
• The policies offer tax benefits on premiums paid

IndiaFirst Term Plan FAQ:

1. Q) Is there a grace period provided for the policies?

A) Yes. Grace period provided depends on the premium payment term and is 30 days for yearly or half yearly and 15 days for monthly. Failure to pay premium within the time frame will lead to lapsed policies

2. Q) Can one revive a lapsed policy?

A) Lapsed policies can be revived within 2 years from date of first missed premium but before the maturity date and the policyholder will have to pay all outstanding premiums and begin regular payment of premiums to revive the policy

3. Q) Is there a suicide exclusion provided for the policy?

A) If the life assured commits suicide whether in a sane or insane state of mind within 12 months from the date of commencement of the policy or revival of the policy or issue of the policy, the nominee stands will receive the surrender value of the policy till date. The suicide exclusion is applicable only to single premium payment policies and not regular payment policies.

4. Q) What are the tax benefits of the policy?

A) Under sections 80C and 10D of the income tax act of India 1961, the premiums paid towards the policy are eligible for tax deductions.

GST of 18% is applicable on life insurance effective from the 1st of July, 2017