|Policy Term||10 / 15 years|
|Premium Paying Term||Single Pay|
|Premium Payment Frequency||Single|
|Minimum Premium||Rs. 40,000|
|Maximum Premium||No Limit, subject to board approved underwriting policy|
|Minimum Sum Assured on Death||Option A: Rs. 4,00,000
Option B: Rs. 50,000
|Maximum Sum Assured on Death||No Limit, subject to board approved underwriting policy|
|(All in Years)||Policy Term||Death Benefit Option A||Death Benefit Option B|
|Minimum Entry Age of Life Insured (last birthday)||10 Years||8||8|
|Maximum Entry Age of Life Insured (last birthday) 10 Years 40 70||10 Years||40||40|
|Minimum Maturity Age (last birthday)||10 / 15 Years||18||18|
|Maximum Maturity Age (last birthday)||10 Years||50||80|
|Sum Insured for Minors||Premium Band||Single Premium Range (Rs.)|
|Band 1||40,000 – 99,999|
|Band 2||1,00,000 – 2,49,999|
|Band 3||2,50,000 – 9,99,999|
|Band 4||10,00,000 – 24,99,999|
|Sum Insured on Maturity for Female Lives||For Policy Term of 10 Years||
|For Policy Term of 1 Years||
Sum Assured on Death is higher of:
The insured can choose between the following two (2) death benefit options:
Option A : The absolute amount payable on death as per (iii) above is equal to 10 times the single premium.
Option B : The absolute amount payable on death as per (iii) above is equal to Sum Assured on Maturity.
|Maturity Benefit||Sum Assured on Maturity will be payable|
|Surrender Benefit||The policy can be surrendered anytime during the policy term. On surrender of the policy the surrender value is payable.
The surrender value payable is higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
|Policy Loan||Policy loan is available once it acquires surrender value. Maximum loan amount available is 90% of surrender value offered by the Company. Interest will be charged on the outstanding loan amount at a rate declared by the Company from time to time based on then prevailing market conditions and will be equal to “SBI Base rate (minimum rate at which SBI lends) + 1.75%”. Charged interest rate will be applicable for new loans only.|
|Enhanced Protection through Riders||A rider is an add-on provision to the base plan. Riders can help in making the plan more comprehensive by paying an additional premium. Riders can be added at the inception of the policy or at policy anniversary during the Policy Term subject to underwriting and terms and conditions of the riders and the product.
Following riders are available with this plan :
|Free Look / Grace Period||15 / 30 days|