This plan is a Non-Linked, Non-Participating, Individual, Life Assurance Savings Plan which offers an attractive combination of protection and savings.¹ It provides financial support for the family in case of the unfortunate death of the policyholders during the policy term and a guaranteed lump sum payment to the surviving policyholder at the time of maturity. This plan also takes care of liquidity needs through loan facility.

Benefits

• Death Benefit:

  • On death during the policy term before the date of commencement of risk: Return of premiums paid excluding taxes,² extra premium and rider premium(s), if any.³

  • On death during the policy term after the date of commencement of risk: “Sum Assured on Death” and Accrued Guaranteed Additions.⁴

  • Where “Sum Assured on Death” is defined as higher of 125% of Basic Sum Assured or 7 times of annualized premium.

  • Death Benefit as mentioned above shall not be less than 105% of the total Premiums paid (excluding any extra premium, any rider premium(s) and taxes) up to the date of death.⁵

• Maturity Benefit:

  • On Life Assured surviving the stipulated Date of Maturity provided the policy is in-force, “Sum Assured on Maturity”⁶ along with Guaranteed Additions, shall be payable.⁷

  • Where “Sum Assured on Maturity” is equal to Basic Sum Assured.

• Guaranteed Additions:

  • Provided the policy is in-force by payment of due premiums, Guaranteed Additions at the rate of Rs. 50 per thousand⁸ Basic Sum Assured will be added to the policy at the end of each policy year.⁹ In case of death under in-force policy, the Guaranteed Addition in the year of death shall be for the full policy year.

  • In case the premiums are not duly paid, the Guaranteed Additions shall cease to accrue under a policy.