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If death occurs during Waiting Period and the Policy is in-force
Accidental Death
Sum Assured on Death is payable as a lump sum benefit and Policy terminates
Death other than Accident
100% of Total Premiums Paid will be paid and Policy terminates
If death (including Accidental Death) occurs after the Waiting Period and the Policy is in-force
Sum Assured on Death is payable as a lump sum benefit and Policy terminates
Sum Assured on Death:
For Regular/Limited premium payment policy
For Single premium payment policy
Higher of:
1. 10 times of one Annualized Premium, or
2. 105% of Total Premiums Paid as on date of death, or
3. Absolute amount assured to be paid on death
Higher of:
1. 125% of Single Premium, or
2. Absolute amount assured to be paid on death
Annualized Premium is the total amount of Premium payable in a policy year, excluding the corresponding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
Single Premium is the total amount of Premium payable at outset, excluding the corresponding taxes, rider premiums and underwriting extra premiums, if any.
Absolute amount assured to be paid on death shall be equal to the Sum Assured specified in the Schedule as opted by the Policyholder at the inception of Policy.
Total Premiums Paid means total of all the premiums received, excluding rider premiums and taxes.
- Step 1: Choose your Sum Assured
- Step 2: Choose your Policy Term, Premium Payment Term and Premium Payment Frequency
- Step 3: Reply few easy questions about you like age, occupation, education, health status, tobacco/alcohol consumptions, etc. as required
- Step 4: The premium amount is calculated basis the details provided
- Step 5: Read through the Policy Terms and Conditions and proceed to pay your premium if you agree with them
The product shall be offered to individuals without restrictions on gender, place of residence, travel, occupation or educational qualifications.
A Waiting Period of 45 days will apply from the date of commencement of risk. The Policy will cover Death due to Accident only during this period. In case of death of the Life Assured other than due to Accident during the Waiting Period, an amount equal to 100% of Total Premiums Paid shall be paid and Policy will terminate for any future benefits.
Rs. 5,00,000 to Rs. 25,00,000
(Sum Assured can be opted in multiples of Rs. 50,000)
Parameters
Description
Age at Entry^
18 years to 65 years
Age at Maturity^
23 years to 70 years
Policy Term (subject to Maximum Maturity Age)
5 years to 40 years
Premium Payment Term (PPT)
Single Premium
Limited Payment – 5/10 years
Regular Payment – Equal to the Policy Term
Premium Payment Mode
For Regular and Limited premium payment policy
Yearly/Half-Yearly/Monthly
Mode
Modal Factors
Annual
Half-Yearly
Monthly
1.00
0.51
0.09
Monthly mode of premium will be available through NACH/ECS only.
For Single premium payment policy: One time lump sum amount
Premium
Minimum: Rs. 1,998 per annum
Maximum: Rs. 4,99,875 under Single Premium*
^Age last birthday
* The maximum premium is applicable for a standard life with Age 54 years, Policy Term – 16 years and with a chosen Sum Assured of 25 Lakhs.
