There is no commitment to pay any future premium however you can buy multiple single premium policies and plan them in such a way that they give you regular income through refund of premium on maturity for each policy.
Once you have paid the premium and uploaded the relevant document, the link to download the policy document will be received by you provided there is no mismatch in data. Also summary of the Khata details will be received from IndiaFirst Life Insurance in 2 working days.
Yes, the policy will be issued instantly post verification of KYC and other documents uploaded while buying the policy. IndiaFirst Life Insurance reserves the right to cancel the policy within 2 working days in case of any mismatch in data. Any death claims within this period of 2 working days will not be accepted if the policy is rejected due to any discrepancy.
You need to pay premium one time as single premium only. There is no monthly, quarterly or half – yearly mode.
The sum assured is the multiple of the single premium (excluding GST) you have paid, and the policy term chosen by you. The minimum sum assured is Rs. 5000 and maximum is Rs. 1,00,000.
Maximum premium is Rs. 10,000 under the plan irrespective of the policy term chosen for one policy. The insured can buy policies further up to the limit of sum assured being 5,00,000.
The plan offers life insurance cover with premium as low as Rs.1000.
The minimum maturity age is 23 years and maximum 50 years under the plan.
To buy the plan your age at entry should be minimum 18 years and maximum 45 years in case of 5 year Policy term and minimum 18 years and maximum 40 years in case of 10 year policy term.
The policy term is fixed at 5 years or 10 years under the plan. You can choose either of the two options as per your need.