IndiaFirst Life Elite Term Plan is a pure protection plan which offers an insurance cover on your life till age 99. The policy secures your family and loved ones in case of your untimely demise. You can easily purchase the plan online.

You may revive the lapsed policy within 5 years from the due date of first unpaid regular premium but before the maturity date by:

• Submitting a written request to revive the lapsed Policy
• Paying all unpaid due remiums without any interest; and
• Providing a declaration of good health and undergoing a medical examination at your own cost, if needed.

A lapsed policy will only be revived along with all its benefits in accordance with our board approved underwriting policy. The policy will terminate and you will not be entitled to receive any benefits, If the lapsed policy is not revived before the expiry of the revival period.

No, there is no surrender value payable under this plan.

Yes, you can cancel your policy if you disagree with any of the terms and conditions within 30 days (free look period) from receipt of your policy document, whether electronically or otherwise. You can return the policy to us, while stating your specific objections. Request for cancellation of policy during free look period will be processed and premium will be refunded within 7 days of receipt of request.

We will return your premium as follows –

Premium paid less:

• Risk Premium for the period you were covered under the policy
• Charges towards medical examination, if any
• Stamp duty charges

Loan facility is not available under this policy.

Fraud/ Misstatement will be dealt with in accordance with provisions of Section 45 of the Insurance Act 1938, as amended from time to time.

We provide a grace period of 30 days for Yearly, Half-Yearly or Quarterly premium mode and 15 days for Monthly premium mode. This period starts from the due date of each premium payment. All your policy benefits continue during this grace period. In case of death during the grace period, we will pay the sum assured to the nominee/appointee/legal heir after deducting the due premium.

If you do not pay your premiums before the end of the grace period, your life cover ceases, and your policy will lapse.

Premium will depend on the life assured’s age, the policy term and the sum assured chosen.

The mode of premium payment and frequency will also impact the premium amount. The following premium frequency factors will apply on the yearly premium to avail of instalment premium.

The Sum Assured under this policy will be higher of:

•  Sum Assured on Death
• 10X theannualized premium
• 105% of Total Premiums Paid (TPP) till date of death.

Customer to choose the Sum Assured on Death subject to minimum and maximum Sum Assured conditions as per Board approved underwriting policy. Premium will be calculated on the basis of Sum Assured chosen. Please refer to the eligibility criteria mentioned above for more details.

There is no maturity or survival benefit payable under this policy. This is a non-participating pure term insurance policy.

In case of death due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary of the policyholder shall be entitled to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death, whichever is higher, provided the policy is in force.