Benefits
Death Benefit:
Death Benefit: If the policy is in-force and the Life Assured passes away during the policy term:
In the first five years, “Sum Assured on Death” is payable.
After completing five policy years but before maturity, “Sum Assured on Death” and Loyalty Addition, if any, are payable.
“Sum Assured on Death” is the higher of 7 times the annualized premium or 110% of Basic Sum Assured. The death benefit is at least 105% of the total premiums paid to date. Premiums mentioned do not include taxes, extra premiums, or rider premiums, if any.
Maturity Benefit:
Loyalty Addition
For policies that have been in force for at least five years and have had a minimum of five full years of premium payments, Loyalty Additions may apply upon policy maturity or in the event of death during the policy term. The specific Loyalty Addition rate and terms are determined by the Corporation.
In the case of paid-up policies, Loyalty Additions will be paid for completed policy years when the policy was active.
Loyalty Additions, if applicable, will also be considered in the Special Surrender Value calculation when surrendering the policy during the policy term, provided the policy meets the minimum payment and duration criteria.
Eligibility Conditions
| Minimum Basic Sum Assured per life* | Rs 2,00,000 |
| Maximum Basic Sum Assured per life* | Rs 5,00,000 |
| Minimum Age at entry | 8 years (completed) |
| Maximum Age at entry | 55 years (nearest birthday) |
| Policy Term | 10 to 20 years |
| Premium Paying Term | Same as Policy Term |
| Minimum Age at Maturity | 18 years (completed) |
| Maximum Age at Maturity | 70 years (nearest birthday) |
Payment Options Available
| Mode of Instalment payment | Minimum instalment amount | |
| Monthly | Rs 5,000/- | |
| Quarterly | Rs 15,000/- | |
| Half-Yearly | Rs 25,000/- | |
| Yearly | Rs 50,000/- | |
