Product Summary:
·
This is a limited premium payment, non-linked,
with profits Money Back Plan.
Premium Payment Mode: Yearly, Half Yearly, Quarterly,
Monthly (ECS)
Term: 20 years
PPT: 15 Years
Minimum Entry Age:
13 Year Completed
Maximum Entry Age: 50 Year (Nearest
Birthday)
Maximum Maturity Age: 70 Year
Minimum Sum Assured: Rs. 1,00,000
Maximum Sum Assured: NO LIMIT (Depending upon
Income)
Maximum Accidental Death and
Disability Benefit Rider up to age 70.
Policy Benefits:
·
On Death:
o
Sum Assured on Death + Vested Bonus + FAB if
any.
o
Sum Assured on Death = Higher of 125% of Basic
SA or 10 times of annualized Premium.
o
Death Benefit shall not be less than 105% of
total premiums paid as on date of death.
o
The premiums exclude taxes, extra premium and
rider premiums.
On Survival:
o
20% of Basic SA is payable after 5th, 10th and
15th year of policy.
o
Maturity Time 40% of Basic Sum Assured + Vested
Bonus + FAB if any.
Surrendered Value:
·
The policy can be surrendered for cash provided at
least three full years premiums have been paid.
·
The Guaranteed Surrender value during policy
term shall be a percentage of total premiums paid (net of service tax)
excluding extra premiums and premiums for riders, if opted for.
·
This percentage will depend on the policy term
and policy year in which the policy is surrendered
Loan:
• Loan Facility is available
under this plan, after payment of premiums for at least 3 full years.
Income Tax Benefit:
• Premium paid under this plan is
eligible for TAX rebate under section 80c.
• Maturity under this plan is free
under sec 10(10D).
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