Key Features

It is a participating plan with limited premium payment option

There are 2 plan options of Option A and Option B

Under option A, two payouts of 20% of SA and two of 30% of SA is paid every two years 5 years after the completion of the PPT

Under Option B, 5 payouts @ 15%, 15%, 20%, 20% and 30% of SA is paid every year 5 years after the completion of PPT

Simple reversionary bonus and terminal bonus add to the corpus

Benefits

On death of the policyholder, future premiums are waived off and the benefit will be paid which will be SA on death subject to a minimum of 105% of premiums paid till death

Sum Assured on death is higher of the SA chosen or 10 times the annual premium

The annual payouts as chosen under the Options available will be paid as they accrue and accrued reversionary bonuses including Terminal Bonus, if any is paid on maturity

The annual payouts can be deferred which will enhance the amount of payouts

On Maturity, the accrued Reversionary Bonuses and Terminal Bonus is paid to the policyholder

Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification

Minimum

Maximum

Entry Age (Last Birthday)

18 years

55 years

Maturity Age (Last Birthday)

75 years

Policy Term (PT) in years

14 / 16

21 / 23

Premium Paying Term (PPT) in years

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Premium

Depends on SA, age, term and PPT

Sum Assured

100,000

No limit

Details About Premium

Annual premium in Rupees for a 40 year old male with a term of 21 years and PPT of 15 years under Option A

Premium

22,392

Sum Assured

250,000

Assured payout in 15^th and 17^th year

50,000

Assured payout in 19^th and 21^st year

75,000

Maturity Benefit @ 4%

42,000

Maturity Benefit @ 8%

241,500

Policy Details

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: Policyholder is allowed to surrender the policy after 2 / 3 full years’ premiums have been paid. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.

GSV =( GSV % of Premiums paid + GSV% of vested Bonuses ) – Annual Payouts already received or deferred

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.