Benefit Descriptions of Protection Term life Insurance
Payable when the unfortunate event ofdeath of Life Assured has beenconfirmed.Chosen Sum Assured will be paid to the nominee.
Survival and Maturity Benefit
No benefit is payable under this policy.
The surrender benefit under this policy is as follows:
Add-On / Rider Benefit
- Single Pay : Surrenders are not allowed in the first year. The policy may be surrendered from the second year onwards. Single Premium (exclusive of service tax) * 70% * Number of remaining complete months of cover / Total Policy Term in months
- 5 or 10 or 15 Pay : Surrender benefit is zero during premium paying term. Total Premium paid (exclusive of service tax) * 70% * Number of remaining complete months of cover / Total Policy Term in months
- Regular Pay : No restrictions. No benefit is available
One can make their Life Insurance policy more comprehensive by including the following riders:
- Accidental Death Benefit Rider
- Accidental Total and PermanentDisability Rider
- Waiver of Premium Rider
- Critical Illness Rider