Benefits

 

Death Benifit

On the unfortunate demise of the Life Insured during the policy term, Base Death Benefit along with the Accrued AGAs will be payable, subject to the policy being in-force for full Policy Benefits. Where,
Base Death Benefit is 150% of Base Sum Assured in the first Policy Year increasing by an amount equal to 5% of the Base Sum Assured for every completed Policy Year till the end of the policy term.

 

Age at entry less than 45 years:

Highest of:

  • 10 times the Annualised Premium* OR
  • 150% of the Base Sum Assured OR
  • 105% of the premium paid (excluding underwriting extra and service tax, if any) as on date of death

 

The Base Death Bennifit will at least be equal to:
Age at entry 45 years and higher

Highest of:

  • 7 times the Annualised Premium* OR
  • 150% of the Base Sum Assured OR
  • 105% of the premium paid (excluding underwriting extra and service tax, if any) 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:

The maturity benefit is guaranteed and is the sum of 150% of the Base Sum Assured and accrued Annual Guaranteed additions subject to policy being in force for full Policy Benefits and all due premium have been paid.


Annual Guaranteed Addition (AGA)

Annual Guaranteed Additions are a percentage of the base Sum Assured that are added to your policy benefits at the end of every policy year. Starting 4th policy year till end of the Policy term, provided all due premiums have been paid till that policy year.


The AGA rates expressed as per 1,000 of Base Sum Assured are as follows:

 

Completed Policy Year

Policy Term – 16 Years

Policy Term – 21 Years

4

28

30

5

33

35

6

38

40

7

43

45

8

48

50

9

53

55

10

58

60

11

63

65

12

68

70

13

73

75

14

78

80

15

83

85

16

88

90

17

NA

95

18

NA

100

19

NA

105

20

NA

110

21

NA

115