Frequently Asked Questions [Hide]


When will my life insurance cover begin?

Your coverage will begin only on acceptance of your proposal form. A written confirmation would be sent to you in this regard.

My payment has been successful and I have received a transaction successful receipt. When will the policy be issued to me?

The policy shall be issued after fulfilling all the underwriting and internal requirements. Based on these details, the decision on acceptance or rejection of cover is taken.

What are the benefits of opting for a higher Sum Assured?

As you opt for higher Sum Assured you will see that the premiums don't increase at the same rate as the Sum Assured. Hence, the benefit for higher Sum Assured at a relatively low cost.

E.g., For Age 35 years, Policy Term 20 years, Sum Assured of ` 25 Lakhs premium is ` 4233/-, where as if we increase the Sum Assured fourfold to ` 1 crore, the premium is only ` 11,760/-, which is just 2.8 times multiple.

The table below shows indicative premiums for both smoker and non-smoker for Level Cover option for a cover of ` 50 lakhs. The illustration for the same follows.

What are the tax benefits available?

Tax deduction under Section 80C is available. However in case the premium paid during the financial year, exceeds 10% of the Sum Assured, the benefit will be limited up to 10% of the Sum Assured. Tax exemption under Section 10(10D) is available, subject to premium not exceeding 10% of the Sum Assured in any of the years during the term of the policy. Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.
The premiums given are exclusive of Service Tax and only for illustration purpose.