Duties as a

Policyholder

All rights are accompanied by

certain duties and

responsibilities…

Lets look at some of our

duties as a life insurance

policyholder.

Duties As A Life Insurance Policyholder

Our Duties...

1. Furnish Full and Fair Information

We are responsible to timely furnish all information sought by the insurer.

The information so provided should be true and fair

This includes basic information (such as age, address, etc.) as well as any

other information which in the opinion of the insurer, could have a bearing

on the risk to be covered (for e.g. a history of your past illnesses, etc.)

Furthermore, you are required to – Keep your insurer informed about changes in address and contact details Notify the insurance company in case of transfer or assignment of the policy

Remember! Failure to provide true and complete information to the

insurer could lead to rejection of a claim…

2. Preserve Documentation

You are required to preserve the policy document and other related papers

such as premium receipts, requests for change in nomination etc.

In case of loss or damage of the policy document, it is your responsibility to

inform the insurer of the same. Thereafter, upon obtaining satisfactory

evidence, the insurer would issue a duplicate policy document.

The right documents are extremely important to ensure timely claim

settlement.

Remember! Proper record of all documents will allow you to operate the

policy with ease at all times…

3. Review and Understand the Policy Proposal

As an individual your life stage and your needs are unique. There is no one

best plan that suits everyone at every life stage.

Hence its important for you to review the policy details and ensure that this

is the right plan for your at that particular moment.

You should understand the features, terms and conditions of the policy and

understand their implications. You must also have a clear understanding of

the risks covered.

Remember! You have the choice of returning the policy within 15 days of

issuing of the policy if you feel that the policy terms do not meet your

needs

4. Timely Payment of Premium

Its important to pay the due premiums within the stated time to continue to

enjoy the policy benefits and avoid policy lapse.

In case you have multiple policies, it is important to track them and note the

premium due dates.

The premiums should be paid through the official channels only – refer to the

policy document on your insurer’s website for more details on the same.

Life insurance is a long term investment product. It works best only if your start

early, save regularly and think long term.

Remember! Payments through ECS/ Direct Debit, internet banking, credit

cards expedite the process…

5. Inform your Nominee about the Plan

The primary objective of a life insurance plan is to ensure the financial

security of our loved ones in case of an unfortunate life event.

Hence its extremely critical that they (the nominee) are aware about the

policy, its benefits and terms & conditions.

Remember! A sound understanding of the policy proposal will help the

nominee know the extend of coverage and the related exclusions, if

any…

Conclusion

By knowing your rights and

performing your basic duties, you

can enjoy all the policy benefits

with complete peace of mind.

Disclaimer

Insurance is the subject matter of the

solicitation. Please read the sales brochure

carefully before buying the plan. IndiaFirst Life

Insurance Company Limited. IRDA

Registration No. 143. Registered and

Corporate Office Address: 301, 'B' Wing, The

Qube, Infinity Park, Dindoshi - Film City Road,

Malad (East), Mumbai - 400 097.

www.indiafirstlife.com. SMS <FIRST> to

5667735 SMS Charges apply. Toll free No -

1800 209 8700.

Thank You