Invest 4G plan offers the dual benefits of life protection and maximal savings so that you have ample opportunities to fulfill your life goals. The policy comes laden with unique features, including loyalty additions, wealth boosters, and return of mortality charges on maturity. Let us look at the maturity benefits offered by the plan –
Essentially, maturity benefit refers to a lump sum amount that you receive from the insurance company pays at the time of policy completion, i.e. maturity. Invest 4G Unit Linked Insurance Plan, too, offers maturity benefits, wherein the fund value that you receive at the time of maturity is as per the prevailing net asset value (or NAV) of the fund options you’ve had invested. Depending upon the settlement option, you can also opt for periodic installments of the maturity value upon maturity.
At the time of buying the Invest 4G policy, you select the policy term. Upon completion of this term, you will receive a maturity benefit amount, which will be equivalent to the accumulated fund value of your investments under the plan. The fund value is calculated based on the number of units by their prevailing NAVs (Net Asset Value) upon maturity. Once you receive the maturity benefit, i.e., the accumulated fund value, the policy cover gets terminated.
The minimum sum assured received under Invest 4G is Rs 5 lakhs. Under the plan, the sum assured in cases, wherein the life assured is aging below 45 years is the higher of –
in case, the life assured ages 45 years or above, the sum assured paid is the higher of –
Here T refers to the Policy Term for Option 1 (or Life option) and Option 2 (or Life Option with Premium Funding Benefit Option). For Option 3 (or, Whole of Life Option) under Invest 4G, the value of T shall be considered as 70-age at entry.
Moreover, the maturity benefit paid under Invest 4G Plan comprises the fund value related Loyalty Additions. These Loyalty Additions are added to your accumulated funds from the end of every 5th policy year, starting from the initiation of the Policy coverage. In other words, you receive these Loyalty Additions every 5th, 10th, 15th Policy year and henceforth, provided you have paid all the premiums.