IndiaFirst CSC Shubhlabh Plan
IndiaFirst CSC Shubhlabh Plan is a traditional variable insurance plan which aims to facilitate savings for future requirements and also provide life insurance cover.
It is a non-participating plan with regular premium payment option
The plan is only available through Common Service Centers CSC and can be bought by giving name and Aadhar number
Minimum Floor Rate, Additional Interest rate and Residual Addition, if any, increase the fund
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Policy Termination or Surrender Benefit: the plan can be surrendered and the money withdrawn after 5 completed policy years.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
Additional Features or Riders
Top-up premiums can be paid to increase Sum Assured
The top-up Sum Assured will be 125% of the top-up premium if age is less than 45 yrs. and 110% of the top-up premium if age is 45 years and above
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