Benefits

On death, the death Sum Assured is payable which is higher of 125% of the Single Premium is age is less than 45 years or 110% of the Premium for ages equal to and above 45 years or the Sum Assured or Maturity Sum Assured

The Sum Assured is calculated as 10 times the Single Premium

Maturity Sum Assured is the Guaranteed Maturity Benefit which is calculated multiplying the guaranteed maturity benefit factor with the single premium paid

On maturity, the Guaranteed Maturity Benefit is paid

The guaranteed maturity benefit factor depends on the amount of premium paid, age and the policy term chosen

Income tax benefit on the premium paid as per Section 80C and on claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

Minimum

Maximum

Entry Age (Last Birthday)

3 years

40 years

Maturity Age (Last Birthday)

18 years

55 years

Policy Term (PT) in years

5 or 10 or 15

Premium Paying Term (PPT) in years

Single pay

Premium Paying Frequency

Annual, half-yearly, quarterly, monthly

Yearly Premium

25,000

No limit

Sum Assured

250,000

No limit

Policy Details

Grace Period: grace period is not applicable in single pay plans

Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy whereupon the Surrender Value will be paid which will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).

GSV = GSV % of Single premium paid

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.