Benefit
Benefits:
Protect your investment from market risks with an Assured Maturity Benefit
Pay premiums only once or for a limited period of 5 years
Get increasing Loyalty Additions from the end of the 6th policy year onwards to boost the Fund Value
Stay protected during the entire policy term with life insurance cover
Maturity Benefit:
Your policy matures at the end of the policy term and all your risk cover ceases. On maturity of the policy, provided all due premiums have been paid, the Life Assured will receive higher of:
Fund Value
Assured Maturity Benefit (as defined below)
Assured Maturity Benefit = (101% * “Total Premiums” paid till date) less the Total Partial Withdrawals made till date (if any)
Death Benefit:
In case of the Life Assured’s unfortunate demise during the Policy term, provided all due premiums have been paid, the nominee will be paid the “Sum Assured on Death”. The “Sum Assured on Death” shall be the highest of:
Sum Assured less Partial withdrawals made(if any)
Fund value
105% of total premiums paid till the date of death
Loyalty Additions
Loyalty additions (as percentage of the average fund value) will be added to the fund value in the form of additional units from the end of 6th policy year onwards, provided all due premiums have been paid. The Loyalty Additions will be added for both Single Pay and Limited Pay policies. Percentage of loyalty additions will vary with the Policy Year and have been outlined below:
Policy Year | Loyalty Additions (as a % of average Fund Value) |
6 | 0.50% |
7 | 0.50% |
8 | 0.75% |
9 | 0.75% |
10 | 1.50% |
