| Eligibility Criteria | |
|---|---|
| Age of the Life Insured at Entry (age as on last birthday) | Minimum entry age : 21 years Maximum entry age : 45 years |
| Maximum Maturity Age of the Life Insured (age as on last birthday) | 66 years |
| Policy Term | The policy holder has an option to choose any policy term from 13 years to 21 years. |
| Premium Payment Term (PPT) | Two premium payment term options available
|
| Premium Payment Mode | The product allows yearly, half-yearly, quarterly and monthly premium paying modes. Please note the modal factors on the prospectus. |
| Minimum Annual Premium |
|
| Sum Assured |
Minimum:
Maximum :No limit, subject to limits determined in accordance with the Board approved underwriting policy of the Company |
| Benefit | Description |
|---|---|
| Death Benefit |
Following shall be payable on death of the Life Insured during the Policy Term provided the Policy is in-force:
Death Benefit is payable immediately on death of the Life Insured and is defined as higher of:
Policy Continuance Benefit - On the death of the Life Insured, all future premiums will be waived and the policy will continue as is. Survival and Maturity Benefit shall be payable to the beneficiary as and when due as would have been the case had the Life Insured been alive. Thus, the Policy will continue post the death of the Life Insured and will also continue to participate in future profits (i.e. all future bonuses will continue to accrue under the policy). Please note that the beneficiary / nominee shall have no rights to any of the options available under the policy i.e. the beneficiary cannot exercise the following:
Settlement Option: Nominee will have the following two settlement options available to receive the Death Benefit:
|
| Annual Bonus |
The bonus shall be declared in the form of Paid Up Additions every year post completion of 2 Policy Years. Paid Up Additions shall be payable on earlier of surrender, death or maturity. However, in case of surrender, only surrender value of accrued Paid Up Additions (if any) shall be payable. Following bonus utilization options shall be available to You at the Proposal Form stage:
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| Terminal Bonus | Terminal Bonus is an additional bonus paid only ONCE, on earlier of death, surrender or maturity, provided the policy has been in force for at least five years i.e. payable in case of claims made from end of 60th month onwards. However, in case of Surrender, only the Surrender Value of Terminal Bonus shall be payable. |
| Paid Up Additions (PUA) Withdrawal Option |
The Policyholder can take the surrender value of the accrued PUA (partially or in full). The remaining PUA will continue to participate in bonuses.
|
| Survival Benefit |
Four moneybacks each equal to 25% of Sum Assured are payable in the last four policy years. Each money back is scheduled to be paid at end of each policy year as shown below:
|
| Discounting & Deferment Schedule |
The discounting and deferment can be done subject to the following conditions:
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| Maturity Benefit |
The following riders are available with this product :
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| Premium Rates |
Premium rates and the benefits are unisex (same for both male and female) and unismoker. This plan can also be offered to sub standard lives with extra mortality charges subject to Board approved underwriting policy of the Company. |
| High Growth Fund | High Growth Fund is a multi-cap fund with a focus on mid cap equities, where predominant investments are equities of companies with high growth potential in the long term (to target high growth in capital value assets). At least 70% of the Fund corpus is invested in equities at all times. However, the remaining is invested in government securities, corporate bonds and money market instruments; hence the risk involved is relatively higher. |
| Growth Super Fund | Growth Super Fund is primarily equity oriented by ensuring at least 70% of the Fund corpus is invested in equities at all times. The remaining is invested in debt instruments across Government, corporate and money market papers. |
| Growth Fund | Growth Fund invests in various asset classes such as Equities, Government Securities, Corporate Bonds and Money Market Instruments. The equities exposure in the Fund will at all times be at a minimum of 20% but not more than 70%. The Fund invests the remaining Fund corpus in debt instruments across Government, corporate and money market papers. |
| Balanced Fund | Balanced Fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments and to some extent in Corporate Bonds and Money Market Instruments. The Fund invests minimum of 10% and up to maximum of 40% of Fund corpus in equities. |
| Conservative Fund | Conservative Fund invests primarily in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments and to some extent in Corporate Bonds and Money Market Instruments. The Fund invests up to 15% of Fund corpus in equities. |
| Secure Fund | Secure Fund invests in debt instruments such as Government Securities, Corporate Bonds, Money Market Instruments etc. issued primarily by Government of India/State Governments, corporate and banks. The Fund also invests in money market instruments as prescribed by IRDA. No investment is made in equities. |
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