IndiaFirst CSC Shubhlabh Plan is a traditional variable insurance plan which aims to facilitate savings for future requirements and also provide life insurance cover.
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Minimum |
Maximum |
|
Entry Age (Last Birthday) |
18 years |
55 years |
|
Maturity Age (Last Birthday) |
- |
65 years |
|
Policy Term (PT) in years |
10 and 15 |
|
|
Premium Paying Term (PPT) in years |
Equal to policy term |
|
|
Premium Paying Frequency |
Annual, half-yearly, monthly |
|
|
Premium |
1500 |
20,000 |
|
Sum Assured |
10 * annual premium for ages<45 yrs. and 7* annual premium for ages>=45 yrs. |
|
Grace Period: 30 days’ grace period is allowed for premium payment in all modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: the plan can be surrendered and the money withdrawn after 5 completed policy years. On Surrender within 5 years, the cover ceases but the minimum floor rate and guaranteed additional interest rate will continue to accumulate and after the completion of 5 years the account value will be paid. If surrendered after 5 years, the applicable account value will be paid
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Partial Withdrawals are allowed after 5 completed policy years with a minimum value of Rs.1000
In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee. In case of suicide within 12 months of revival, higher of 80% of premiums paid or acquired Surrender Value is paid
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and provide the name and Aadhar number.
