IndiaFirst Life POS Insurance Khata Plan is a non-linked, non-participating, term assurance with return of premium plan. The plan is designed to offer financial protection in the form of a life cover for the family along with return of total premium paid, (excluding applicable taxes) in case the life assured survives till the end of the policy term.
There are dual benefits in the plan. If an unfortunate event occurs within the policy term, then the Life insured’s family gets the insurance cover. However, if the term of the insurance is completed and there is no claim filed, then the insurance premium is returned.
Pay through single premium and get life cover for 5, 7 or 10 years as per your choice. However, the customer has the option of buying multiple policies. These will keep on adding to the total insurance coverage and term of the policy.
Yes, the customer can buy multiple policies of the plan whenever they want. This will keep on increasing the total coverage limit and term of the policy
The customer cannot increase the coverage limit of an existing policy, but overall coverage can be increase by buying new policies
The nominee will receive the chosen sum assured at inception of the policy which could be either 5 or 7 or 10 times of single premium. If there are multiple POS Insurance Khata policies, the total sum assured payable will be combined sum assured of all policies.
At maturity of each policy, IndiaFirst will refund the single premium paid for purchasing the policy, excluding GST.
Tax benefits are available on premiums paid and benefits are receivable as per prevailing Income Tax Laws. These are subject to change from time to time as per the Government Tax laws. Please consult a tax consultant before purchasing the policy.
The customer doesn’t have to make regular premium payments as this policy is only through single premium payment.
The minimum term of the plan is 5 years and the maximum is 10 years.
The minimum premium for the policy is Rs.500 and the maximum is Rs.15,000.
The minimum insurance cover is Rs.2500 and the maximum is Rs.15,0000.
The customer can keep on buying multiple single premium insurance policies, thus increasing the total coverage.
No, they aren’t any limits. However, the policy holder should be in between 25 to 50 years of age at the time of buying the policy.
The policy can be bought using Oxigen Wallet. Alternatively, other payment methods such as Net banking, Debit Cards and Credit Cards are also available.
To buy this policy, customer only needs his Aadhaar number and the mobile number which is registered with Aadhaar.
For every policy sold, every retailer will earn some margin. Since this product has been specifically designed keeping in mind the current customer profile of an Oxigen Retailer, this is an oppurtinity for every retailer to provide a new service to his existing customers and add new customers too.
No, there is no registration required to avail this service. All RBL approved CSPs are eligible for this service.
Yes, there are a few requirements for the retailers:
The retailer will be paid commissions in their monthly commission cycle.
Claim can be filed with the help on the supporting documents. The supporting documents can be forwarded to
claim department at head office by courier to the below address.
IndiaFirst Life Insurance Company Ltd
301, 'B' Wing, The Qube,
Dindoshi - Film City Road,
Malad (East), Mumbai - 400 097
Intimation with supporting scanned documents can also be sent by email to: firstname.lastname@example.org
Policyholders can contact the following toll-free service help line
Distributors can contact the following toll free service help line