|Particulars||Base Option||Secured Income Option|
|Minimum Entry Age(Last Birthday)||Policy Term (years)||Age||18 years|
|Maximum Entry Age (Last Birthday)||55 years||50 years|
|Minimum Maturity Age (Last Birthday)||18 years||24 years|
|Maximum Maturity Age (Last Birthday)||67 years||62 years|
|Policy Term||Single Premium - 6 / 8 / 10 / 12 years
Regular Premium - 7 / 10 / 12 years
|7 / 10 / 12 years|
|Payout Period||Premium Payment Option||Policy Term||Payout Period|
|Premium Paying Term||
|Minimum Sum Assured on Death||
|Maximum Sum Assured on Death||No Limit, subject to Board approved underwriting policy|
|Maximum Premium||No Limit, subject to Board approved underwriting policy|
|Premium Paying Frequency||Annually, Semi-Annually, Quarterly, Monthly|
|Payout Frequency||Annually, Semi-Annually, Quarterly, Monthly|
|Maturity Benefit (for both plan options)||The Maturity Benefit is payable in the form of Regular Income or Regular Income plus Lumpsum depending on the Maturity Benefit Option as detailed below. The Option once chosen at inception cannot be changed during the Policy Term:|
Regular Income Provided the policy is In-Force, Regular Income Instalment shall be payable starting from the First Payout Date in the Payout Frequency, as decided by the insured till the end of the Payout Period.
The insured also has the option to advance the first payout date by a maximum of 30 days. This option can be exercised only once and at least 90 days before the maturity date.
Regular Income plus Lumpsum Provided the Policy is In-Force, Regular Income Instalment shall be payable starting from the First Payout Date in the Payout Frequency, as decided by the insured till the end of the Payout Period. In addition, a Lumpsum Payout shall be payable with the last Regular Income Instalment.
The insured also has the option to advance the First Payout Date by a maximum of 30 days. This option can be exercised only once and at least 90 days before the maturity date.
|Critical Illness Benefit **||
This benefit will be applicable only if the Plan Option selected is Secured Income.
If the Life Insured is diagnosed with one of the covered Critical Illness conditions, during the Policy Term and while the policy is In-Force, the insurer will pay the Critical Illness Sum Assured as lumpsum provided the Life Insured has survived for a period of 30 days following the date of diagnosis.
In addition, all the future premiums will be waived and the policy will continue for Death Benefit, Surrender Benefit and Maturity Benefit. The Critical Illness Sum Assured is equal to 5 times the Annualised Premium.
No Critical Illness Benefit will be payable within the Waiting Period of 90 days from the risk commencement date of the policy or revival whichever is later.
|Death Benefit||Base Option
Secured Income Option
|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:
|Surrender Benefit||For Single Premium Payment Option, the policy will acquire surrender value immediately after the insurance company has received the premium.
For the Regular Premium Payment Option and Policy Term of 7 years, the policy will acquire Surrender Value only from second policy year provided we have received full premiums for the first two policy years.
For the Regular Premium Payment Option and Policy Term of 10 and 12 years, the policy will acquire Surrender Value only from third policy year, provided we have received full premiums for at least first three policy years.
On surrender, the policy shall be terminated and all the benefits under the policy shall cease to apply. On surrender of the policy, the insurer will pay the higher of Guaranteed Surrender Value or Special Surrender Value.
|Reduced Paid Up Death Benefit||Under the Base Option, if the Life Insured dies during the Policy Term and while the Policy has become Reduced Paid-Up, the Reduced Paid-Up Sum Assured on Death shall be payable and the Policy will be terminated.
Under the Secured Income Option, if the Life Insured dies prior to making any claim for a covered Critical Illness Benefit during the Policy Term and while the Policy has become Reduced Paid-Up, the Reduced Paid-Up Sum Assured on Death shall be payable.
|Free Look / Grace Period||15 / 30 days|