A Non-Participating Unit Linked Endowment Insurance plan. In this policy, the investment risk in the investment portfolio is borne by the policyholder linked insurance products that do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender / withdraw the monies invested in linked insurance products completely or partially till the end of the fifth year.
Key Features
Pay premiums once or for a limited period and get Insurance protection throughout policy term
Regular Loyalty Additions are credited to the policy to boost investments
Flexibility to choose from 6 Fund options for enhanced investment opportunities
Option to customize plan with three additional unit deducting riders
Choice of Enhanced Systematic Money Allocation & Regular Transfer Investment Portfolio Strategy
Top-up facility to further augment portfolio
Flexibility of Partial Withdrawals after five policy years to meet financial needs
Settlement option is provided on Maturity to receive the maturity amount either in lump sum or in installments over a period of time
Tax benefits u/s 80C and 10 (10D) of the Income Tax Act, 1961
Plan at a Glance
Feature
Details
Minimum Issue Age
0 years (30 days) (Age last birthday)
Maximum Issue Age
60 years (Age last birthday)
Minimum Maturity Age
18 years (Age last birthday)
Maximum Maturity Age
75 years (Age last birthday)
Policy Term
15 to 40 years
Premium Paying Term
– Single Pay
– Limited Pay – 5 / 7 and 10 years
– Regular / Limited Pay – 15 and 20 years
Pay Mode
Single, Annual, Semi-Annual, Quarterly, Monthly
Minimum Premium
– Single Pay: Rs 5,00,000
– Regular / Limited Pay: Rs 2,50,000 per annum
Maximum Premium
No Limit
Minimum Basic Sum Assured
– For Single Pay: 1.25 times the Single Premium
– For Regular / Limited Pay: Higher of (10 * AP) OR (0.5 * Policy Term * AP)
– AP is the Annualized Premium selected by the policyholder at inception, excluding taxes
Maximum Basic Sum Assured
– For Single Pay: 1.25 times the Single Premium
– For Regular / Limited Pay:
– Age 0 to 30: 30 times AP
– Age 31 to 40: 20 times AP
– Age 41 to 50: Higher of (Policy Term / 2 or 15) times AP
– Age 51 to 60: Higher of (Policy Term / 2 or 10) times AP
– AP is the Annualized Premium selected by the policyholder at inception, excluding taxes
Important aspects
1. Total Sum Assured under the plan is the total of Basic Sum Assured and Top-up Sum Assured.
2. The Regular / Single premium and any Top-up premium net of premium allocation charge will be used to purchase units in the various investment fund/s offered under this plan. The units purchased in the investment fund is the monetary amount allocated to the investment fund divided by its then prevailing NAV per unit.
3. Regular/Single Premium Fund Value is equal to the number of units pertaining to Regular/Single premiums allocated to the investment fund/s multiplied by its then prevailing NAV per unit Top-up Premium Fund Value, if any, is equal to the number of units pertaining to Top-up premiums allocated to the investment fund/s chosen by you multiplied by its then prevailing NAV per unit.
4. Total Fund Value under this plan is the total of Regular / Single Premium Fund Value and Top-up Premium Fund Value, if any. The Fund Value represents the total value of your investments to date and is the balance of all units allocated to the investment fund/s multiplied by its then prevailing NAV per unit.
