Benefits

 

Death Benefit
On unfortunate demise of the life insured during the policy term, Death Sum Assured along with Accrued Reversionary Bonuses plus intrim bonus plus final bonus, if any will be payable, subject to the policy being in force.
Death Sum Assured will be calculated as follows:

Age at entry less than 45 years:
Highest of:

A.  Immediate benefit of 50% of the base Sum Assured payable at the time of death PLUS
Monthly Recurring benefit of 1% of Base Sum Assured payable every month from the month of death to the end of the policy term subject to a minimum    of 36 monthly payments even if this requires payments after the policy term is over PLUS
     Final Benefit of 125% of the Base Sum Assured payable on the scheduled maturity date OR

B. 10 times the Annualized Premium* OR
C. 125% of base Sum Assured

Age at entry 45 years and higher:
Highest of:

A.  Immediate benefit of 50% of the base Sum Assured payable at the time of death PLUS
Monthly Recurring benefit of 1% of Base Sum Assured payable every month from the month of death to the end of the policy term subject to a minimum    of 36 monthly payments even if this requires payments after the policy term is over PLUS
     Final Benefit of 125% of the Base Sum Assured payable on the scheduled maturity date OR

B. 7 times the Annualized Premium* OR
C. 125% of base Sum Assured

However, the death sum assured together with bonuses shall be at least equal to 105% multiplied by all the premiums paid as on date of death.
The Annualized premium shall be the premium payable in a year chosen by the policyholder, excluding the underwriting extra premiums and loadings for modal premiums, if any

Maturity benefit
On survival of the Life Assured to the end of the policy term, the policyholder will receive a Maturity Benefit equal to 125% of the Base Sum Assured chosen at inception PLUS Accrued Reversionary Bonus PLUS Final Bonus if any, subject to policy being in force.


Bonuses

This policy has a Compounded Reversionary Bonus declared annually. In addition to this, Final Bonus may also be payable. The Bonuses are not guaranteed and depend upon the performance of the relevant participating fund.


Eligibility Criteria

Age at entry## Minimum:
Maximum:
18 years
For Policy Term 15 Years: 50 years
For Policy Term 20 Years: 45 Years
For Policy Term 25 Years: 40 Years
Maturity Age## 65 years  
Policy Term 15 years, 20 years and 25 years  
Premium Paying Term Policy Term Premium Payment Term
15 years 8 years / 10 years
20 years 12 years / 20 years
25 years 15 years / 25 years
 
Premium Paying Mode Yearly, Half-Yearly and Monthly  
Minimum Premium 10,800  
Maximum Premium Depends on the chosen base sum assured, age at entry, policy term and premium payment term  
Minimum Base Sum Assured 1,50,000/-  
Maximum Base Sum Assured 5 Cr subject to underwriting  

## Age as on last birthday

Substandard lives may also be covered subject to company's underwriting manual and with any extra premium, if applicable.