Maturity Benefit
(Benefits on maturity of the policy)
Maturity Benefit
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On survival till the maturity date, provided all due premiums have been paid, you will receive the higher of:
- Sum Assured on Maturity + Accrued Reversionary bonus (if declared) + Interim bonus (if any) + Terminal bonus (if declared)
- 100% of Total Premiums1 paid
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Disclaimer:
1. Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes
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Death Benefit
(Benefits for the nominee upon demise of policy holder)
Death Benefit
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On death of the Life Assured during the Policy Term, provided all due premiums are paid, we will pay the higher of the following:
- Sum Assured on Death + Accrued Reversionary Bonus (if any) + Interim Bonus (if any) + Terminal Bonus (if any)
- 105% of Total Premiums1 paid
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The Sum Assured on Death shall be the higher of:
- Sum Assured on Maturity2
- 10 times Annualized Premium3 for entry age less than 45 years and 7 times Annualized Premium3 for entry age greater than or equal to 45 years for Limited and Regular pay policies OR 2 times Single Premium for Single pay policies
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On payment of the maturity or death benefit, the policy will terminate with no further benefits payable.
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Disclaimer:
1. Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
2. "Sum Assured on Maturity" means the amount which is guaranteed to become payable on maturity of the policy, in accordance with the terms and conditions of the policy.
3. Annualised premium means premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
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Auto Cover Continuance
(Increased value of your investments with added benefits)
Auto Cover Continuance (ACC)
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Continue to receive the full death benefit for a lapsed or paid-up policy for 2 years or outstanding policy term, whichever is lower from the date of paid-up/lapse.
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The death benefit payable during the ACC period shall be the higher of:
- Sum Assured on Death + Accrued Reversionary Bonus (if declared) + Interim Bonus (if any) + Terminal Bonus (if declared)
- 105% of Total Premiums1 paid.
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Reversionary Bonus (if declared) accrued till date of Lapse/Paid-up shall become payable on death and no further reversionary bonus (if declared) shall accrue to the policy.
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Disclaimer:
- Total Premiums Paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
Thanks for contacting us.
Will get in touch soon.
Your call is scheduled for , between . You will receive a call from 8291890XXXX. Kindly attend the call. We respect your privacy. We do not spam.
Your call is rescheduled for , between . You will receive a call from 8291890XXXX. Kindly attend the call. We respect your privacy. We do not spam.
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Bonus
(Increased value of your investments with added benefits)
Bonus
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A Simple Reversionary bonus as a percentage of the “Sum Assured on Maturity” would be declared at the end of each financial year depending on the Premium Payment Term and the Policy Term combination chosen, and payable either on death or on maturity, whichever is earlier provided the policy is not lapsed. The Reversionary Bonus is a discretionary benefit declared and would be declared based on actual experience as well as expected future experience.
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In case of death, Surrender or Maturity during the inter-valuation period the policy will be eligible to receive the Interim Bonus based on the bonus rates declared by the company.
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A Terminal Bonus may be added to your policy at death, Surrender or Maturity which enables the company to pay a fair share of the surplus at the end, based on the actual experience over the Policy Term and allowing for the Reversionary Bonuses (if declared) already attached. As the Terminal Bonus depends on the actual experience, it is not a guaranteed benefit.
Thanks for contacting us.
Will get in touch soon.
Your call is scheduled for , between . You will receive a call from 8291890XXXX. Kindly attend the call. We respect your privacy. We do not spam.
Your call is rescheduled for , between . You will receive a call from 8291890XXXX. Kindly attend the call. We respect your privacy. We do not spam.
Your call is already scheduled for , between . Incase you want to reschedule the call; you can do it using the form above.
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