Product Summary
| Feature | Details |
|---|---|
| Policy Term | 10/15/20/25 years |
| Premium Payment Term | 10 to 20 years (in complete years only). Premium payment term should always be lower than or equal to policy term. |
| Premium Paying Modes | Monthly and Annual |
| Entry Age (Life Assured) | Minimum: 18 years Maximum: Policy Term 10 years – Age at Entry: 51 years, Age at Maturity: 61 years Policy Term 15 years – Age at Entry: 51 years, Age at Maturity: 66 years Policy Term 20 years – Age at Entry: 49 years, Age at Maturity: 69 years Policy Term 25 years – Age at Entry: 45 years, Age at Maturity: 70 years |
| Premium | Minimum Premium: Policy Term 10 years – Annual: ₹50,000 p.a., Monthly: ₹5,000 p.m. Policy Term 15/20/25 years – Annual: ₹25,000 p.a., Monthly: ₹3,000 p.m. Maximum Premium: No Limit |
| Premium Funding Benefit | Option I: Death only Option II: Death or Total & Permanent Disability (TPD). The option once chosen cannot be changed or opted out later. |
| Sum Assured | For ages below 45 years: Higher of (0.5 x policy term x Annualized Premium) Or 10 x Annualized Premium For ages 45 years and above: 7 x Annualized Premium |
| Maximum Sum Assured | Varies based on age and chosen policy term, subject to underwriting acceptance. Please refer to the product brochure for complete details on maximum Sum Assured multiple available. |
Benefits
Death benefit
The death benefits of this product are:
- Sum Assured is paid on death
- All future premiums are funded by the Company as and when due, in case of death or disability (if opted)
- Fund Value is paid at maturity
At any point of time, the death benefit will not be less than 105% of the total premiums paid.
Maturity Benefit
At the end of the Policy Term, one will receive the Fund Value.
Premium Funding Benefit:
This benefit ensures that the future of the child is not compromised, in case of the policyholder’s death. The policy continues with all the future premiums funded by the company and the child receives the fund value at maturity.
If the policyholder has also opted for Premium Funding Benefit for disability, then in case of Total & Permanent Disability, the company will fund all future premiums. The Life Cover will continue and Sum Assured will be payable on subsequent death and fund value will be paid at maturity to the child.
