Basic Sum Assured
The minimum Basic Sum Assured is Rs. 2.5 Lakhs and maximum Basic Sum Assured is Rs.100 Crores (subject to Board approved underwriting policy). Basic Sum Assured should be in multiples of Rs.1000
Premium Payment Term and Policy Term
This plan offers you the flexibility to choose from various combinations of Policy Term and Premium Payment Term.
|Premium Payment Terms||Policy Term |
|6 and 8 Years||12 , 15 and 18 Years|
|10 Years||15 and 18 Years|
Premium Payment Modes
Premium can be paid on Monthly*/ Quarterly*/ Half-Yearly / Yearly basis
* Monthly and quarterly modes are only through ECS/SI
On survival of the Life Assured to the end of the Policy Term, provided the policy is in-force, Guaranteed Maturity Benefit equal to the Basic Sum Assured will be paid and the contract ceases immediately.
Money Back Benefits as a percentage of the Basic Sum Assured will be paid at regular intervals of 3 years, starting from the third policy anniversary, on survival of Life Assured provided the policy is in-force on the respective policy anniversary.
The Money Back payout benefits applicable are as follows:
|Policy Anniversary||Money Back as a % of Basic Sum Assured|
On death of the Life Assured during the Policy Term, provided the policy is in-force, the Death Sum Assured as defined below will be paid and the contract ceases immediately.
Death Sum Assured is defined as higher of:
10 times the Annualized Premium OR
105% of all the premiums paid as on date of death of the Life Assured OR
Guaranteed Maturity Benefit (i.e Basic Sum Assured) OR
Absolute amount assured to be paid on death (i.e. Basic Sum Assured)
Where, Annualized Premium for the purpose of Death Sum Assured refers to premium payable in a year excluding any extra premium and loading for modal factors, if any.
The death benefit will be reduced by the total premiums falling due and unpaid during the policy year in which death occurs.