Astha
Five Payment Shurakkha
Feature & Benefit
On death of the insured during the term of the policy Sum Assured with accrued bonuses will
be paid to the nominee(s).
After paying premium for at least two years, the policy can be converted to a lump sum assured.
The remaining 30% of Sum Assured with accrued bonuses will be paid.
- 10% of Sum Assured will be paid after completion of 1/5 of policy period
- 15% of Sum Assured will be paid after completion of 2/5 of policy period
- 20% of Sum Assured will
be paid after completion of 3/5 of policy period
- 25% of Sum Assured will
be paid after completion of 4/5 of policy period
When you purchase a life insurance policy, you agree to pay a specific sum of money, known as the premium, to the insurance provider at regular intervals. The frequency or period of your payments depends on your chosen mode of premium. AsthaLife offers several medium of premium payment, including:
Bank: Premium payments can be made through your bank account. You can use net banking, mobile banking, or visit the bank in person to initiate the payment. AsthaLife has tie-ups with specific banks for seamless transactions.
Cheque: Write a cheque for the premium amount and submit it to the insurer. Ensure that the cheque is correctly filled out, signed, and dated. AsthaLife will process the payment upon clearance.
Mobile Banking: Use mobile banking apps to transfer the premium amount directly from your bank account to the AsthaLife. This method provides convenience and real-time confirmation.
Electronic Funds Transfer (EFT): EFT allows you to authorize automatic premium deductions from your bank account. Set up an EFT mandate with AsthaLfie, and the premium will be debited on the specified dates.
The written demand will be subject to the company's announced cancellation policy and a grace period of 30 days will apply. If the premium method is monthly, the grace period will be 15 days.
- Death claims are exempt from income tax.
- 5% tax is applicable at source on the excess of insurance claim amount excluding gross accumulated premium on maturity.
- Up to 15% income tax rebate will be available on vested premium while filing personal income tax return.
Product Video
