Guaranteed Income Plan

The benefits under the plan vary as per the plan option chosen.

The definitions below will help you understand better, the benefits of the plan:

Sum Assured on Death is the amount which is higher of:

Guaranteed Cashback Option (Plan Option 1) & Guaranteed Cashback with Premium Protection Option (Plan Option 2)

Survival Benefit

You will receive the Guaranteed Annual Cashback at the end of each of the last 4 policy years before the maturity year provided that all due premiums are paid.

Maturity Benefit

On survival till the policy term (provided that all due premiums are paid), you will receive

On payment of above benefits, your policy will terminate and no further benefit will be payable.

Death Benefit

Death Benefit under Guaranteed Cashback Option (Plan Option 1)

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:

On payment of above benefits, the policy will terminate and no further benefit will be payable. The survival benefit (Guaranteed Annual Cashback) already paid will not be deducted from the benefit payable on death.

Death Benefit under Guaranteed Cashback with Premium Protection Option (Plan Option 2)

In case of the Life Assured's unfortunate death during the policy term, provided all due premiums have been paid, Sum Assured on Death will be payable. Further, the policy will continue till maturity with all future benefits accruing as if the policy was in-force, the death benefit payable to your Nominee/ Legal Heir as the case may be will be as follows:

On payment of above benefits, the policy will terminate and no further benefit will be payable. The survival benefit (Guaranteed Annual Cashback) already paid will not be deducted from the benefit payable on death.

Guaranteed Income Advantage (Plan Option 3)

Survival Benefit

You will receive the Guaranteed Annual Income at the end of each of the policy years after the completion of premium payment term till Maturity.

Maturity Benefit

On survival till the end of policy term (provided that all due premiums are paid), you will receive Guaranteed Sum Assured on Maturity.

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 Sum Assured on Death.

On payment of above benefit, the policy will terminate and no further benefit will be payable. The survival benefit (Guaranteed Annual Income) already paid will not be deducted from the benefit payable on death.

Guaranteed Single Pay Advantage (Plan Option 4)

Maturity Benefit

On survival till the policy term, you will receive

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 Sum Assured on Death.

On payment of above benefit, the policy will terminate and no further benefit will be payable.