There is no option of joint life in the plan.
FAQ Tag: Savings Insurance Khata
What are the premium payment options available under the plan?
You can buy IndiaFirst Life POS INSURANCE KHATA Plan under single premium only.
Can I add optional riders in this plan?
There are no riders in this plan.
What are the tax benefits available under the plan?
Tax benefits are available on premiums paid and benefits receivable as per prevailing Income Tax Laws. These are subject to change from time to time as per the Government Tax laws. Please consult your tax consultant before purchase of the policy.
What is the amount of bonus I will get under the plan?
The plan only refunds percentage of your premium and does not have any additional bonus payable in the policy. Bonus is not applicable in this plan as this is a Term plan with Return of Premium on maturity on survival of life assured.
What are the maturity benefits if I survive the policy term?
At maturity of each policy, we will refund you percentage of premium (which will be more than or atleast equal the premium amount), basis your age and policy term chosen, while purchase of policy.
What will my nominee get in case of my death?
Your nominee will receive the chosen sum assured at inception of your policy which could be either 5 or 10 times of single premium. If you have multiple POS Insurance Khata policies, the total sum assured payable will be combined sum assured of all policies.
What is the life cover option in the plan?
The plan is designed to provide financial protection to your family. Pay through single premium and get life cover for 5 or 10 years as per your choice.
Why should you buy this plan?
IndiaFirst Life POS Insurance Khata Plan is a non-linked, non-participating, micro life insurance plan. The plan is designed to offer financial protection in the form of a life cover for the family along with pre-defined returns, (excluding applicable taxes) in case the life assured survives till the end of the policy term.
What is the type of the plan being offered?
IndiaFirst Life POS Insurance Khata Plan is a pure protection plan which returns percentage of your premium basis the age and policy term chosen, if you survive the policy term.