|Minimum Entry Age||91 Days
(For entry age below 5 years, risk commences after 1 Year and 11 months from the date of commencement of the policy.For entry age of 5 years and above, risk commences immediately.)
|Maximum Entry Age (Last birthday)||55 Years|
|Maximum Maturity Age (Last birthday)||100 Years|
|Policy Term (PT)||100 Years less age at entry of the life insured|
|Premium Paying Term (PPT)||10, 15, 20 and 25 years|
|Premium Payment Frequency||Annual, Semi-annual, Quarterly, Monthly|
|Minimum Premium||Rs 9,531|
|Sum Assured on Death||Higher of: 11 times of the Annualized Premium* OR Sum Assured on Maturity|
|Sum Assured on Maturity||
|Discount for Large Sum Assured||This plan provides for additional discount on higher sum assured premium amount are given as per the table below:
|Premium Rates for Female Lives||
For PPT of 10 years
|For PPT of 16 years
For PPT of 20 & 25 years
|Maturity Benefit||On maturity of the policy, the paid-up sum assured on maturity will be payable.Further, the benefit payable on maturity shall never be less than 105% of total premiums paid to date.|
|Reversionary Bonus (RB)||
This is a non-guaranteed benefit payable during the policy term based on the performance ofthe Par Fund as mentioned below:
|Guaranteed Lump Sum Benefit (GLB)||
This is a survival benefit payable only upon the survival of the Life Insured at theend of the Premium Paying Term (‘PPT’) and at the end of policy year when Life Insured attains age 75 and is equal to SumAssured on Maturity.
GLB is payable twice during the policy term as follows:
The Policy will acquire Surrender Value if all the premiums have been paid in full and received by Us for at least first threepolicy years. On surrender, the Policy shall be terminated, the Surrender Value, if any, as calculated will be immediatelypaid and all the Benefits under the Policy shall cease to apply.
On surrender, the higher of the Guaranteed Surrender Valueor the Special Surrender Value will be payable.
Reversionary bonus (RB1) that has been declared before the policy gets paid-up will be protected and paid at the end of PPT.
Paid-up GLB shall be payable on survival of Life Insured at the end of PPT and end of policy year when Life Insured attainsage 75. It will not be a part of death benefit.
The total survival benefit payable during the policy term is as follows:
|Reduced Paid Up Benefit||
If all the premiums have been paid for at least first three consecutive years then the policy will not lapse and continue as a‘Reduced Paid-up’ policy and all the benefits shall be reduced proportionately.All the benefits will be multiplied by a paid up factor, where paid-up factor is as below:
|Loan Benefit||Policy loan is available once it acquires surrender value. Maximum loan amount available is 90% of surrender valueoffered by the Company. Interest will be charged on the outstanding loan amount at a rate declared by the Company fromtime to time based on then prevailing market conditions and will be equal to “SBI Base rate(minimum rate at which SBIlends) + 1.75%”.|
|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|