Death Benefit


In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is higher of

  1. Sum Assured* including Top-Up Sum Assured, if any  or
  2. Fund Value, including Top-Up Fund Value, if any, or
  3. 105% of total Premium paid including Top-Up premiums, if any.

Where, Sum Assured is defined as multiple of Annualized Premium / Single Premium as opted at inception of policy.

*Sum Assured will be reduced to the extent of partial withdrawals made in the last 2 years for age on death below 60 years and for age on death 60 years and above, all partial withdrawals made from the age of 58 years onwards. The partial withdrawal made from the top-up premium shall not be reduced for this purpose.


Maturity Benefit


On survival of the Life Insured till maturity date and subject to Policy being in-force for full risk benefits, the Policy will pay the Fund Value including Top-Up fund value, if any, to the Policyholder.

Death cover chosen will cease on Maturity.


Surrender Benefit


The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of “lock-in period” which is a period of 5 consecutive Policy years from the date of commencement of the Policy.

The surrender value will be the value of units less discontinuance (or surrender) charges, if applicable.


Persistency Units: As a reward for continuing your policy, Persistency units equal to 0.50% of the average of Fund Value including Top-Up Fund Value of preceding 36 monthiversaries would be allocated to the Policyholder’s unit account at the end of every policy year, starting from sixth policy year provided monies are not in Discontinuance Fund.

No Persistency Units would be given to policies sold online


Wealth Boosters: Wealth Boosters would be allocated as extra units at the end of every fifth policy year, starting from the end of tenth policy year. Wealth Booster as a percentage of average fund value including Top-up Fund Value of preceding 36 monthiversaries would be allocated to the policyholder’s unit account at the end of 10th, 15th, 20th, 25th and 30th policy anniversaries, if they fall within the policy term.


Policy Anniversary

Premium Band

Band 1

Band 2

Band 3





















No Wealth Boosters would be given to policies sold online.


Choice of Investment Strategies


At inception, Policyholder can choose one of the below investment strategies.

  • Defined Portfolio Strategy
  • Life Stage Portfolio Strategy

Within the Defined Portfolio Strategy, Policyholder can choose to invest with or without Systematic Transfer Plan Option. Once opted in, the investment strategy will continue throughout the policy term. Policyholder cannot switch from one investment strategy to another during the policy term.


Defined Portfolio Strategy

Under this option, you can opt to invest in any of the funds as available (except DPF or Liquid Fund) in proportions of your choice. Within the Defined Portfolio strategy, you also have an option to select Systematic Transfer Plan (STP) option and/or Fund Conservation Option for which Liquid Fund will be made available to you. The Policyholder can switch monies amongst these funds using the switch option.


You have an option to choose from five funds to invest your money in. You can look at the investment objectives of each of our funds and match those with your investment goals and then decide the proportion of money you would like to invest in each of them. If you are opting for more than one fund, the minimum investment in any fund should be at least 1% of the Single / Annual Premium (as applicable) paid. The funds and fund objectives are as follows:



Investment objective

Asset Allocation

Debt fund

(SFIN: ULIF00127/08/08FIXEDIFUND140)

To generate steady return at lower risk by investing in a range of debt securities.

Government securities: 50% to 100%

Corporate bonds: 0% to 50%

Money Market/cash: 0% to 40%

Balance Fund

(SFIN: ULIF00227/08/08BALANCFUND140)

To generate balanced return by investing in debt securities to provide stability and by investing in equities to provide potential to enhance the return through capital appreciation.

Equity: 10% to 50%

Government securities: 20% to 50%

Corporate bonds: 0% to 50%

Money Market/cash: 0% to 40%

Growth Fund

(SFIN: ULIF00327/08/08GROWTHFUND140)

To generate higher return through capital appreciation in the long term by investing in a diversified portfolio of equities. Debt investment will provide a little stability and diversification.

Equity: 40% to 80%

Government securities: 10% to 30%

Corporate bonds: 0% to 30%

Money Market/cash: 0% to 40%

Large Cap Equity Fund

(SFIN: ULIF00427/08/08LARCAPFUND140)

To generate higher return through capital appreciation in long term from a portfolio invested predominantly in large cap equities.

Equity: 60% to 100%

Money Market/cash: 0% to 40%

Multi Cap Opportunities Fund

(SFIN: ULIF01106/02/18MULCAPOPPO140)

To generate capital appreciation for policyholders by dynamically investing across assets to capitalize on changing market conditions. The scheme aims to invest primarily in equities and to mitigate market.

Equity: 50% to 100%

Govt. Securities, Corporate Bonds: 0% to 30%

Money Market Instruments/Cash: 0% to 50%


Liquid Fund will be available to the Policyholder only through STP. Investment objective of Liquid Fund is as under.



Investment objectives

Asset Allocation

Liquid Fund

(SFIN: ULIF00920/01/


To generate steady return at lower risk by investing in a range of short-term debt/liquid money market securities

T-Bill/Money Market/Cash: 100%


In addition to above fund an additional fund will be maintained for discontinued policies with the following asset allocation and SFIN.


Fund Name

Investment Objective

Asset Allocation

Discontinued Policy Fund

(SFIN: ULIF01024/02/11DISCONFUND140)

To generate steady return at lower risk by investing in a range of short-term debt securities to meet the minimum guarantee of 4% p.a.

Government Securities: 60% to 100%

Money Market/cash: 0% to 40%


The minimum guaranteed rate of interest applicable to Discontinued Policy Fund will be specified by the IRDA of India from time to time. The current minimum guaranteed rate applicable to Discontinued Policy Fund is 4% per annum.


Systematic Transfer Plan


With STP, you can invest a specific amount in a regular fashion at monthly intervals. This gives you the advantage of rupee cost averaging. You buy more units when markets are down and fewer units when markets are up, thereby reducing the average cost of purchase of units in the funds selected by you.


Life Stage Portfolio Strategy


Considering the ever changing financial needs as per the different life milestones, we offer a life stage based investment strategy wherein the investments are distributed between Large Cap Equity Fund and Debt Fund with their proportions varying as per the different life stages. At inception the funds will be distributed between two funds, Large Cap Equity & Debt Fund. As and when the next milestone is achieved, the funds will be re-distributed according to the attained age (age bands) as given in following table.

Age last birthday last policy anniversary

Debt Fund

Large Cap Equity Fund

Up to 25



26 – 30



31 – 35



36 – 40



41 – 45



46 – 50



51 – 55



56 And Above




On a quarterly basis, the strategy shall be reviewed and rebalanced, if necessary, to achieve above proportions. The rebalancing will be done on the first day of each quarter of the financial year except for the last 12 months of the policy. If the first day is a non valuation date then the next working day’s NAV will be applicable.


In the last 12 months, the remaining investments from Large Cap Equity Fund will be systematically transferred to the liquid fund in 12 installments.


Flexibilities available in the plan *




To boost your savings, you can pay additional Top-Up Premiums over & above the base premium as long as all due premium till date has been paid The minimum Top-up premium is 5,000. Sum Assured would increase by Top-up Sum Assured after availing a Top-up facility.


Switching option


Within Defined Portfolio Strategy, you can switch your investments within the available funds, depending on your financial priorities and investment decision. There are no switching charges or restriction on number of switches during entire policy term. The minimum switch amount is Rs 5000 unless 100% of the fund is switched.


Premium Redirection


Within Defined Portfolio Strategy, you have the flexibility to change the proportion of Premium that is invested in different funds by giving an advance notice to the Company of at least 15 days before exercising this option. . There are no Premium Redirection charges or restriction on number of redirection during the entire policy term. This feature would not be applicable for single premium payment policies.


Partial withdrawals


To manage any unexpected need for money or for any exigency, partial withdrawals can be made from your investment account after 5 Policy years. The policyholder can make unlimited number of partial withdrawals as long as the total amount of partial withdrawals in a year does not exceed 20% of the Fund Value in a policy Year. The minimum withdrawal amount is Rs 10,000. The partial withdrawals are free of cost.


Fund Conservation


Within Defined Portfolio Strategy the Company will give you an option to preserve your capital towards end of your Policy, when your investments are due to be paid back. All your investments are systematically transferred from Debt fund, Balance fund, Growth fund, Large Cap Equity fund and Multi Cap Opportunities fund to Liquid Fund in the last 12 months of your Policy; on monthly basis.
All Premiums received during this period will be re-directed to Liquid Fund


Settlement option


Upon Maturity of the policy, you will have the option, to receive maturity benefit as a structured payout over a period of 1, 2, 3, 4 or 5 years post maturity by availing settlement option. For e.g. if you choose settlement period of 1 year with monthly frequency, the first installment will be paid on the Maturity Date, second installment will be paid upon completion of one month from date of maturity and so on.


Option to Increase/Decrease the Sum Assured


You can increase or decrease the sum assured within maximum and minimum limits after third policy anniversary provided you have paid all the premium/s due and would be subject to underwriting and other requirements of the Company.


Option to Increase/Decrease the Premium Payment Term


  • Provided all due premiums have been paid, you can choose to increase the Premium Payment Term by notifying the Company.
  • Provided at least five years’ premiums have been paid, you can choose to decrease the Premium Payment Term by notifying the Company.
  • Increase or decrease in Premium Payment Term must always be in multiples of one year.

This benefit is not applicable for the Single Pay option


Option to Increase/Decrease in Policy Term


  • You can choose to increase or decrease your policy term by notifying the Company.
  • On decrease of policy term, your Sum Assured will not reduce unless it is requested by you


*Please refer to sales brochure for further details