Benefits

 

Maturity Benefit

The policy will mature when the policyholder's age is 75 (as per the last birthday). The Maturity Benefit will be the sum of Basic Sum Assured, Accrued Reversionary Bonuses and Final Bonus, if any.

 

Death Benefit

On the unfortunate demise of the Life Insured during the policy term, the beneficiary will receive the Death Sum Assured, Accrued Reversionary Bonuses, Interim Bonus, if any, and Final Bonus, if any.


Where Death Sum Assured is:
For entry age - less than 45 years the death sum assured will be higher of:
a) 11 * Annualized Premium@
b) (70 - Age at entry) * 0.5 * Annualized Premium@
c) Basic Sum Assured

For entry age - 45 years and above the death sum assured will be higher of:
a) 11 * Annualized Premium@
b) (70 - Age at entry) * 0.25 * Annualized Premium@
c) Basic Sum Assured

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


Bonuses
This is a participating plan that has Compounding Reversionary Bonuses. In addition to this, Interim and Final Bonuses may also be declared. The Bonuses are not guaranteed and depend upon performance of the relevant participating fund.