Naini Life line

Nainital Bank offers a Master Policy named “India First Group Term Plan Policy” with India First Life Insurance Co Ltd. The said plan has been specially designed for all the customers of the bank. India First Group Term Plan is a non participating, non-linked, yearly renewable group protection plan offered to a group of individuals having a similar interest such as account holders, depositor/ creditor groups, Government agencies, parents of school/college students, social sector groups, affinity groups, employer-employee groups etc.

Features :

Name of the scheme : NAINI LIFE LINE
Eligibility : All account holders, individual, proprietor, partners of partnership firm, Directors of a company, Trustees of Trust/society etc having any deposit or advance account, aged between 18-55years. The cover begins on completion of 18 years and ceases on attaining 55
Sum Assured : Rupees One Lac only (Rs. 1,00,000/-)
Premium payable : The rate of premium will be as under, starting from 1st January & will be charged on pro-rata basis for the first year, from the date of joining:

Age Band Premium rate including
service tax(Rs.)
18-35 years 156
36-50 years


51-55 years


The insurance cover is available only after submitting the application to the bank by the account holder and payment of initial premium & on payment of renewal premium thereafter regularly.
Declaration : The customer will have to submit a simple declaration of Good Health.
Taint Accounts : Cover will be extended to account holders individually based on individual application/ consent cum authorization letter and No Objection Certificate [NOC from co -account holder
Payment of Claim : In the event of member (whether sane or not) committing suicide within one year from the date of entry into the scheme, no claim will be payable.
In case of death, written intimation is to be given to the branch along with following documents:
  • Identity and proof of the Member's age
  • Claimant's statement
  • Copies of First Information Report, Post Mortem Report, duly attested by police officials, in case of unnatural deaths including accidents etc.
  • Hospitalization documents (mscharge summery, all investigation reports) in case the member was treated for any illness related to the cause of death
  • Original Certificate of Insurance for the member
  • Death certificate
  • Any other document or information that the insurance company may need to process the claim depending on the cause or nature of the claim.
Tax Benefit : Premium paid under the above scheme is eligible for tax benefit tinder section 80 C of Income Tax Act. Death benefits are also tax-free under section 10(10) D of the Income Tax Act,1961
For more detail contact to nearest Branch