Death Benefit

On unfortunate demise of the Life Insured during the Policy Term irrespective of any Survival Benefit already paid, the Company will pay full Death Sum Assured along with Accrued Reversionary Bonuses, if any, plus Interim and Final Bonus, if any as mentioned below.


Death Sum Assured will be higher of the following:

  • 11 times the Annualized Premium*

  • Base Sum Assured

However, the minimum Death Sum Assured along with Bonuses will be at least equal to 105% multiplied by all the Premiums paid (excluding underwriting extra Premium, if any) as on date of Death.

*Annualized Premium will be the Premium payable in a year chosen by the Policyholder, excluding the underwriting extra Premium and loadings for modal Premium, if any.


Survival Benefit

Survival Benefit expressed as a percentage of Base Sum Assured will be paid at specified regular intervals during the Policy Term provided the Policy is in force for full risk benefits. It will be paid starting from end of the 4th Policy year and every 4th year thereafter for 16 years Policy Term and from end of the 5th Policy year and every 5th year thereafter for 20 years Policy Term as mentioned below.


The percentage of Base Sum Assured payout is mentioned below:


Policy Term = 16 years Policy Term = 20 years
Policy Year % of Base Sum Assured Policy Year % of Base Sum Assured
4 15% 5 15%
8 20% 10 20%
12 25% 15 25%
16 40% 20 40%


Maturity Benefit

On Survival of the Life Insured to Maturity Date, Accrued Reversionary Bonus and Final Bonus, if any, would be payable.


What are the Bonuses payable in this Policy?

This is a participating plan that has Compound Reversionary Bonuses that will accrue for the entire Policy Term. In addition to this, Interim and Final Bonus may also be paid, subject to Policy being in force. The Bonuses are not guaranteed and depend upon the performance of the relevant participating fund. Any Bonuses declared by the Company during the first three Policy years will vest in the Policy only after the Policy has been in force for full Policy benefits during three Policy years. However, this condition will not apply to Policies resulting in to claims by Death during this period.


Tax Benefits

Tax benefits will be applicable as per prevailing Tax Laws. Tax Laws are subject to change. Please consult your tax advisor for details.


Loan Availability

The Policyholder can avail a loan against the Policy after it acquires Surrender Value, up to 80% of the Surrender Value. The rate of interest applicable on the loan will be declared by the Company on an annual basis at the beginning of every financial year.