ULIP Plans

Plan starting from ₹1,000/month

Save upto ₹46,800 in Tax under section 80C^{^}

Zero LTCG Tax^¶

In built life cover

Benefits

The total Fund Value + Top-up Fund Value (if any) is payable on Maturity

Alternatively, the maturity benefit can be availed in instalments over 5 years post maturity under the Settlement Option

On death, the basic Sum Assured + Fund Value + Top-up Sum Assured + Top-up Fund Value (if any) is payable subject to 105% of all premiums paid

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

Product Specification:

Minimum

Maximum

Entry Age (Last Birthday)

7 years

65 years

Maturity Age (Last Birthday)

75 years

Policy Term (PT) in years

10 or 15 – 25 years

Premium Paying Term (PPT) in years

Equal to policy term in case of Regular Pay

5, 10, 15, 20 in case of Limited Pay

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

12,000

No limit

Sum Assured

Higher of 10*annual premium or 0.5*annual premium*term for ages<45 yrs.

Higher of 7*annual premium or 0.25*annual premium*term for ages>=45 yrs.

No limit

Policy Details

Grace Period: 15 days grace period is allowed for payment of premium in monthly mode and 30 days in other 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 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges

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.