Benefits
For both variants, in case of the life insured’s unfortunate demise during the policy term, the death benefit will be payable the nominee. Death benefit is higher of:
Fund value on date of intimation of death
Sum Assured (reduced by partial withdrawals made during the two years immediately preceding the date of death of the Life Insured, if any); or
105% of the Total Annualized Premiums/Single Premium received till the date of death of the Life Insured (reduced by all partial withdrawals made during the two years immediately preceding the date of death of the Life Insured, if any)
On survival of life insured up to end of Policy Term, the fund value shall be paid out in lump sum or as a structured payout using Settlement Option, provided all due premiums have been paid. In addition to the fund value, premium allocation charge and mortality charge will be returned and are added as additional units to the fund value.
Loyalty Additions calculated as a percentage of fund value are additional units added to the policy which shall be credited only if the Life Insured has paid all due premiums under the policy
Legacy Variant: Limited Pay
| Premium Band | Loyalty Additions |
| Band 1 | Loyalty Additions is added at the end of every policy year starting from year 11. 0.10% of Fund Value shall be added every year in the form of additional units in the Fund Vaue as the Loyalty Addition |
| Band 2 | Loyalty Additions is added at the end of every policy year starting from year 6. 0.20% of Fund Value shall be added every year in the form of additional units in the Fund Vaue as the Loyalty Addition |
| Band 3 | Loyalty Additions is added at the end of every policy year starting from year 6. 0.40% of Fund Value shall be added every year in the form of additional units in the Fund Vaue as the Loyalty Addition |
Milestone Variant: Limited Pay/ Regular Pay
| Premium Band | Loyalty Additions |
| Band 1 | Loyalty Additions is added at the end of every policy year starting from year 11. 0.10% of Fund Value shall be added every year in the form of additional units in the Fund Vaue as the Loyalty Addition at the end of year 11 The Loyalty Additions increase by 0.05% every year thereafter till the end of policy term |
| Band 2 | Loyalty Additions is added at the end of every policy year starting from year 6. 0.10% of Fund Value shall be added every year in the form of additional units in the Fund Vaue as the Loyalty Addition at the end of year 6 The Loyalty Additions increase by 0.05% every year thereafter till the end of policy term |
| Band 3 | Loyalty Additions is added at the end of every policy year starting from year 6. 0.20% of Fund Value shall be added every year in the form of additional units in the Fund Vaue as the Loyalty Addition at the end of year 6 The Loyalty Additions increase by 0.05% every year thereafter till the end of policy term |
Note: Loyalty Additions will not be applicable for policies with ‘Single Pay’ as their Premium Payment Term (for both Legacy and Milestone Variants).
Additional units will be added to your Fund starting from the end of 10th policy year and every 5 years thereafter provided all due premiums under the policy have been paid.
For Single Pay (Legacy Variant & Milestone variant):
| Premium Band | Wealth Boosters |
| Band 1 | NA |
| Band 2 | 2% |
| Band 3 | 4% |
For Limited/Regular Pay (Milestone Variant)
| Premium Band | Wealth Boosters |
| Band 1 | 2% |
| Band 2 | 3% |
| Band 3 | 4% |
For Limited Pay (Legacy Variant)
| Premium Band | Wealth Boosters |
| Band 1 | 2% |
| Band 2 | 2% |
| Band 3 | 4% |
Return of Mortality and Premium Allocation Charges
Return of Mortality and Premium Allocation ChargesAt the end of the Policy Term, your Fund Value will be enhanced by adding back an amount equal to the total Mortality Charges and Premium Allocation Charges which were deducted in the policy provided all due premiums have been paid.