Suitability

Salient Features

Premium Paying Terms

Policy Term	Premium Paying terms limited to
5 years	1, 2 or 3
10 years	1, 2, 3, 4 or 6
15 years	1, 2, 3, 4, 6, 8 or 10
20 years	1, 2, 3, 4, 6, 8, 10 or 12
25 years	1, 2, 3, 4, 6, 8, 10, 12 or 16

Benefits

Maturity Benefits: Payment of basic Sum Assured together with accrued Guaranteed Additions and accrued bonuses, if any will be paid to the policyholder on surviving the term of the policy provided the policy is in full force for full sum assured.

Death Benefit: On death of the Life Assured during the term of the policy the basic Sum Assured along with accrued Guaranteed Additions and accrued bonuses, if any, will be paid, provided the policy is in full force for full sum assured.

Guaranteed Additions: Guaranteed Additions @ Rs. 50 % 0 Sum Assured for each completed year, for the first five years.

Participation in profits: From the 6th year onwards policyholder shall be entitled to receive bonuses declared as per the experience of the Corporation.

Free Disability Benefit: In case of total and permanent disability arising due to accident within 180 days of the accident, disability benefit will be available under the plan upto an assurance of maximum Rs. 20000 under all the policies taken together. The payment of future premiums upto an assurance of Rs. 20000 would also be waived in such cases. (All conditions applying to disability due to accident shall apply to this benefit)

Grace Period: 30 days for premium payment .

15-days Cooling-off period: If not satisfied, return of policy permissible within 15 days.

Revival : The policyholder can revive his lapsed policy within a period of 5 years from the date of first unpaid premium by paying arrears of premium together with interest to be decided by corporation from time to time subject to satisfactory evidence of health. The present rate of interest is 9% p.a. Payable half yearly.

Paid-up value: The policy will acquire paid-up value after at least one full year’s premium has been paid wherever the premium paying term is 10 years or less. For premium paying terms of more than 10 years the policy will acquire paid-up value after 2 full years premiums have been paid.

Guaranteed Surrender Value (GSV) : This policy can be surrendered for cash after completion of three policy years.
The Guaranteed Surrender Value in case of single premium policy will be 90% of the premium paid excluding all extra premiums, premium for the term assurance option and accident benefit premium, if any. The Guaranteed Surrender Value allowable under the policy (other than single premium) will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and the extra premiums for the Term Assurance Option and Accident Benefit, if any.
The cash value of any existing vested Guaranteed Additions and vested bonuses, if any, will also be allowed.

Term Assurance Rider
Term Assurance as optional rider will be available under this plan. Premiums for this option are payable during the Premium Paying Term and an amount equal to the Term Assurance Sum Assured will be payable on death during the Policy term. The premium rates for this option will be payable separately.

Accidental Death & Disability Benefit
Accident benefit will be available under the plan upto a maximum of Rs.25 lakhs (inclusive of all other life insurance plan) subject to payment of additional premium. An additional amount equal to the accident benefit sum assured is payable on death. In case of total and permanent disability arising due to accident (within 180 days) this amount is paid over a period of 10 years in monthly installment.

The disability due to accident should be total and such that person is unable to carry out any work to earn the living. Following disabilities due to accident are covered –
a) Irrevocable loss of the entire sight of both eyes or
b) amputation of both hand at or above the wrists or
c) amputation of both feet at or above ankles or
d) amputation of one hand at or above the wrist and one foot at or above the ankle.

No benefit will be paid in case of accidental death or disability due to accident in case of
a) Intentional self-injury, attempted suicide, insanity, or immorality or the life assured is under the influence of intoxicating liquor, drugs or narcotics
b) Engagement in aviation or aeronautics other than that of a passenger in any aircraft
c) Injuries resulting from riots, civil commotion, rebellion, war, invasion, hunting, mountaineering, steeple chasing or racing of any kind
d) Accident resulted from committing any breach of law
e) Accident arising from employment in armed forces or military services or police organisation.

Age Proof:
Only standard age proof will be accepted under this plan.

Rebate - For Mode of Premium Payment:
Yearly ... 2% of tabular premium
Half-Yearly ... 1% of tabular premium
Quarterly ... Nil

Sum Assured Rebate:
Rs.50 lacs and above Rs.0.50 per thousand
In case of regular Premium Rs.2 per thousand

Sum Assured rebate at this level will also be allowed under Single Premium.

Loan:
Loan is permissible subject to usual terms and conditions. However, the rate of interest would be determined from time to time. The rate to start with will be 10.5% p.a. payable half yearly

Eligibility & Other Conditions