Product Summary | Non Linked, Non-participating, Individual, Limited Premium Payment, Life Insurance Savings Plan. In other words, Guaranteed, fixed benefit scheme with premium payment term lower by five years than the term |
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Premium Payment Mode | Yearly, Half Yearly, Quarterly, Monthly (NACH and SSS) |
Annuity Mode | - |
Optional Benefits | - |
Term | 15 to 20 Years |
Premium Paying Term | - |
Minimum Age at Entry | 90 days(Completed) |
Maximum Age at Entry | 60 Years (NBD) |
Annuity Options | - |
Minimum Purchase Price | - |
Deferment Period | - |
Joint Annuity | - |
Maximum Cover Ceasing Age | - |
Maturity Age | - |
Sum Assured | - |
Maturity Benefit | - |
Death Benefit | - |
Minimum Basic Sum Assured | - |
Minimum age at the end of Premium Paying Term | - | Maximum Maturity Age | 75 Years (NBD) |
Minimum Premium | - |
Maximum Premium | |
Minimum Basic Sum Assured | - |
Sum Assured on Death | -. |
Minimum Sum Assured | 1,00,000 |
Maximum Sum Assured | No limit |
Guaranteed Additions | - |
Survival Benefits | - |
Riders Available | Accident Benefit or Accidental Death and Disability benefit, Critical Illness Rider, Term Rider, PWB |
Accidental Death and Disability benefit (ADDB) | Yes |
On Death | Sum Assured + Vested Guaranteed Additions, OR 125% of Basic Sum Assured, OR 7 times of Annualized Premium, OR 105% of all premiums paid as on death, WHICH EVER IS HIGHER. |
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On Survival | Basic Sum Assured + Guaranteed additions at the rate of 50 per 1000 sum assured per year |
On detection of Early Stage Cancer | - |
On detection of Major Stage Cancer | - |
Settlement Option | - |
Multiple Allowed | - |
Surrender Value | Surrender allowed after two full year premium payment |
Loan | Loan available after two full year premium payment.(90% of Surrender value for in force policies and 80% for paid up policies.) |
Income Tax Benefit | Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act. |
Proposal Form | Form no 300 for major lives and form 360 for minors. |