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The benefits under the plan would be as per the plan option chosen.
Endowment Option (Plan Option 1)
Maturity Benefit
On survival till the policy term (provided that all due premiums are paid), you will receive
Guaranteed Sum Assured on Maturity, plus
Guaranteed Yearly Additions added,
On payment of above benefits, your policy will terminate and no further benefit will be payable.
Death Benefit
In case of the Life Assured's unfortunate death during the policy term, provided the policy is in-force, the death benefit payable to your Nominee/ Legal Heir (as the case may be) will be as follows:
1. Sum Assured on Death, plus
2. Guaranteed Yearly Addition(s) added, as on date of death
On payment of above benefits, the policy will terminate and no further benefit will be payable.
Money back Option (Plan Option 2)
Survival Benefit
On survival till the end of the premium payment term where the Policy is in-force and all due Premiums are paid, a one-time benefit equal to 30% of Sum Assured is payable.
Maturity Benefit
On survival till the policy term (provided that all due premiums are paid), you will receive
Guaranteed Sum Assured on Maturity (which is equal to 70% of Sum Assured), plus Guaranteed Yearly Additions added,
On payment of above benefits, your policy will terminate and no further benefit will be payable.
Death Benefit
In case of the Life Assured's unfortunate death during the policy term, provided the policy is in-force, the death benefit payable to your Nominee/ Legal Heir (as the case may be) will be as follows:
1. Sum Assured on Death, plus
2. Guaranteed Yearly Addition(s)Â added, as on date of death
On payment of above benefits, the policy will terminate and no further benefit will be payable.
The survival benefit already paid will not be deducted from the benefit payable on death.
The definitions below will help you better understand the benefits of the plan:
Sum Assured on Death is the amount which is higher of:
- 11 times the Annualized Premium, or
- 105% of Total Premiums Paid as on date of death, or
- Guaranteed Sum Assured on Maturity, or
- Absolute amount assured to be paid on death, which is also equal to Sum Assured
Guaranteed Sum Assured on Maturity is:
- For Endowment option: 100% of Sum Assured
- For Money back option: 70% of Sum Assured
Paid-up Sum Assured is defined as Sum Assured multiplied by (Number of Premiums paid divided by Total number of Premiums payable during the Policy Term).
Paid-up Sum Assured on Death is defined as Sum Assured on Death multiplied by (Number of Premiums paid divided by Total number of Premiums payable during the Policy Term).
Paid-up Sum Assured on Maturity is defined as Guaranteed Sum Assured on Maturity multiplied by (Number of Premiums paid divided by Total number of Premiums payable during the Policy Term).
Annualized Premium is the premium payable in a year chosen by you, excluding the taxes, rider premiums and loadings for modal premiums, if any
You can customize the policy to suit your financial goals and requirements in just 3 simple steps:
Step 1 - Choose your plan option
Depending on your financial need, select the plan option:
1. If your goal is to get a life cover during the policy term and lump-sum on maturity, we recommend you to opt for ‘Endowment Option’.
2. If your goal is to get life cover during the policy term, some additional liquidity during the policy term and lump-sum on maturity, we recommend you to opt for 'Money back option'.
Step 2: Choose your premium
Choose your premium amount. You can check the guaranteed amount available at policy maturity to ensure that your financial needs are met.
Step 3: Choose your premium payment term, premium payment mode and policy term
Choose how long you would like to pay premium, at what frequency, and your policy term, to align with your payment preference, life coverage needs, savings horizon and future goals.
The Sum Assured in this plan will be determined basis your age and the plan option chosen.
- Entry Age
Minimum
18 years
Maximum
55 years
- Maturity Age
Minimum
28 years
Maximum
65 years
- 5 pay with 10 years policy term
- 7 pay with 15 years policy term
- 10 pay with 20 years policy term
Minimum
₹ 20,148
Maximum
₹ 10 lacs
The minimum instalment premium available under the plan are as follows:
Premium Payment Mode
Minimum Instalment Premium
Annual
₹ 5,000
Half-Yearly
₹ 5,100
Quarterly
₹ 2,600
Monthly
₹ 1,000
Maximum Annualized Premium: ₹ 90,000 per annum
Minimum and Maximum Premiums are exclusive of Goods and Services Tax & applicable cess (es)/levy, if any
Mode
Modal Factors
Annual
1.00
Half-Yearly
0.51
Quarterly
0.26
Monthly
0.09
The policyholder can choose to change the Mode of Premium Payment, subject to application of modal factor.
