Benefit Description
Death Benefit
iReturn Insurance Plan pays the nominee a lump sum in case of the death of the insured
Terminal Illness Benefit
On diagnosis of any terminal illness, future base Premiums will be waived and an amount equal to 25% of the base Policy Sum Assured will be paid to the nominee. The maximum Terminal illness benefit payable is ₹100 lakhs and the Death Benefit will be reduced by an amount equal to the benefit paid under this clause.
Maturity Benefit
If all Premiums are paid on due their respective due dates and if the insured survives till the end of Policy Term, the insurer will pay back to the surviving insured all the Premiums have paid under the Policy (excluding any Rider Premium, Goods & Services Tax or extra Premiums charged, if any)
Add - On Optional Coverage Riders
Besides life cover, this plan offers add-on optional coverages through the choice of the below mentioned riders for Regular Premium Paying policies only on payment of the applicable add-on premium. Kindly refer to the individual rider benefits & premiums available on the company website:
- Accidental Death Rider – Accidents are always unexpected and sometimes critical. They may lead to death. In case of death of the insured due to accident, this benefit is payable in addition to the Sum Assured under the Base Plan.
- iCI Rider (Critical Illness Rider) – We have identified 4 Critical illness that could change the insured’s life so much and hence recommend this rider. On being diagnosed with any of these 4 critical illnesses, Sum Assured under this Rider is paid out and the Rider terminates while the life cover and other Rider covers (if any) continues. The riders are
- Cancer
- Open Chest CABG
- First Heart Attack
- Stroke
- WoP Rider (Waiver of Premium) – This Rider covers the same 4 critical as under iCI Rider namely • Cancer • Open Chest CABG • First Heart Attack • Stroke. On being diagnosed with any of these 4 critical illnesses, future Premiums payable under the Base Plan and other Riders (if any) are waived while the life cover and other Rider cover (if any) continues.
- Women CI Rider (Women Critical Illness) – This Rider covers illnesses pertaining to women. On being diagnosed with any of the covered illness a certain percentage of the Base Plan Sum Assured will be paid. The illnesses covered under this Rider are classified into 2 groups viz. Group 1 & Group 2. The illness covered under each group and the benefit amount is as given in the table below.
| Group |
Conditions Covered |
Benefit amount |
| Group1 |
Malignant Cancer of the Female Organs |
5% of Base Plan Sum Assured subject to minimum of ₹50,000 and maximum of ₹10 lakhs |
| Group 2 |
Birth of child with Congenital Disorders/Surgeries and Pregnancy Complications |
2.5% of Base Plan Sum Assured subject to minimum of ₹25,000 and maximum of ₹5 lakhs. |
You cannot opt for above Riders if you want to choose single Premium payment mode. The Rider cover will continue till the end of Premium Payment Term.
