Advantages

• No Medicals – no more hassles, lengthy paper work or medical examination. Just answer four easy health related questions for insurance coverage.
• Four funds offering different levels of growth depending on your risk appetite
• Fund conservation at maturity: To safeguard your fund value before maturity, we will switch your investments at regular intervals to Debt Fund beginning 3 years from maturity date. This is an optional feature.
• No Allocation charges from 2nd year onwards
• Enhance protection through optional Accidental Death Benefit Rider

BENEFITS

Death Benefit:

In the first policy year: In case of an unfortunate event of death, higher of 50% of the sum assured or fund value will be paid.

Death after 1st policy year: In case of event of death after the policy has completed year 1, higher of Sum assured or fund value will be paid.

The death benefit is subject to a minimum of 105% of total premiums paid.

Maturity Benefit

On maturity of the policy at the end of the policy term, the policy will pay the fund value. Death cover and the rider risk cover chosen will cease on maturity.

Surrender Benefit

The policyholder will be paid surrender value only after completion of 5 policy years. However, the policy will acquire surrender value from the first policy year. The surrender value will be the fund value less discontinuance charges.

RIDERS

You can make the proposition more comprehensive by adding Accidental Death Benefit rider to your base plan.

DLF Pramerica Unit Linked Accidental Death Benefit (ADB) Rider

On death due to an ill-fated accident, the beneficiary gets an additional sum assured as chosen under this rider. It is available in addition to the basic death benefit under the base plan.

FEATURES

Fund Options

In our endeavor to help your investments benefit from the growing markets, as per your risk appetite, we offer you four fund options, namely Debt Fund, Balance Fund, Growth Fund and Large Cap Equity Fund.

Partial Withdrawal

We understand your need for liquidity, so we offer you the facility of partial withdrawal. Partial withdrawal shall only be allowed after five years from the date of commencement of the policy.

Other Features

Other features such as switches, settlement option, addition and deletion of rider, option to reduce premium payment term and premium re-direction option are also available.

Policy Limits

Plan working1. How does this plan work?

• Fill the simple application form, submit photograph, proofs of age, identity and residence.
  • One should be between 18 – 50 years of age;
  • Terms available: 15 and 20 years (subject to maximum maturity age of 70 years).
• Select the fund(s) where premiums need to be invested as per your risk appetite
• Answer four health related questions
  • Absolutely NO time consuming medical tests.
• Make your premium payment
  • Minimum annual premium is Rs.25,000 and maximum annual premium is Rs.50,000
• Get protection
  • Within 5 minutes, the same time taken to sip a cup of tea, you can complete the documentation formalities with our Sales Representative and set yourself on the way to getting protection. Upon validation of your documents and proofs, we will send the policy to you.
• Your premium amount, net of allocation charges, is invested in the units of the unit linked funds that you select.
• In case of the unfortunate demise of the insured, during the policy term, the policy will pay sum assured or the value of regular premium units whichever is higher, to the beneficiary.
• On maturity, you will receive the value of your fund.

2. What are the charges applicable under the product?

The following charges would be applicable: Premium allocation charge, policy administration charge, fund management charge, mortality charge, partial withdrawal charge, switching charge, miscellaneous fee, surrender charge and service tax.

3. What if I discontinue paying premiums?

Regular Premiums are payable for the entire policy term. In case you do not pay premium by due date, you will have a grace period of 30 days from the due date to pay premium. In case the premium is not paid by the end of the grace period, the Company will send a notice to you within a period of 15 days from the end of the grace period asking you to exercise any of the following two options within a period of 30 days from the receipt of the notice:

a) Revival of the policy, or
b) Complete surrender from the policy without any risk cover.

In case you opt for option a:
In case you opt for option a and revive the policy within the period of 30 days after paying all the due premiums and charges (if any) the company shall revive the policy with all the benefits, with or without the rider benefits if any as mentioned in the policy document; upon being satisfied as to the continued insurability of the life insured on the basis of the information shared by the policyholder.

The risk cover under the policy will continue till the end of revival notice period or till complete withdraw from the policy whichever is earlier. If fund value reduces to zero during the revival notice period the policy will lapse without value and all benefit will cease. Such policy can be also revived before the end of the revival period.

During this period, the policy will be in force for all the risk benefits and all the charges would continue to be deducted. If you opt for option b or a period of 30 days from the receipt of the notice expires, the risk cover will cease.

The revival of the policy shall not take effect until the company has specifically approved your request for revival and the same has been communicated to you in writing. The revival of the policy shall be subject to the underwriting requirements of the Company, as applicable from time to time

In case you opt for option b,then:
Provisions applicable during first five policy years (lock in period)

In case you opt for option b for complete withdrawal from the policy without any risk cover or do not exercises any of the options by the end of the 30 days of the receipt of the notice, whichever is earlier, the fund value after deducting the appropriate discontinuance charges (surrender charges) would be transferred to “Discontinued Policy Fund” (DPF). This fund shall be invested as per the investment regulations for controlled fund issued by the IRDA. The value of this fund would be paid to you at the end of 5 year “lock in period” with a minimum interest of 3.5% p.a.

The policy cannot be revived once the fund value, after deduction of discontinuance charges has been transferred to DPF.

Provisions applicable after first five policy years

In case you opt for option b for complete withdrawal from the policy without any risk cover or do not exercises any of the options by the end of the 30 days of the receipt of the notice, whichever is earlier, the fund value as at the date of receipt of the withdrawal letter or the expiry of the 30 days period, whichever is earlier, shall be paid by means of cheque or demand draft, to be delivered to you, at your last known address or by any other electronic mode of payment.

After completion of five policy year, in case fund value is not sufficient to meet monthly charges, even if all premium due have been paid, the policy will terminate without any value.

4. Is there any policy loan available under this plan?

No. Policy loan is not available under this plan.

5. Is there any exclusion under this policy?

Yes. The exclusions are as under:
No death benefit will be paid if death has occurred directly or indirectly as a result of suicide, within one year from the date of acceptance of risk. However, in such an event, we will refund the fund value of the policy and terminate the policy.

Please refer to rider brochure for exclusions on rider benefit.

6. I am serving in the armed forces, can I buy this plan? What are the exclusions for the same?

Yes. You can buy this plan without the Accidental Death Benefit rider. There are NO other exclusions apart from the exclusion mentioned in clause 5 above.

7. What if I want to cancel my policy as I do not agree on the terms and conditions mentioned in the policy?

You have a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy and where you disagree to any of the terms and conditions, you have an option to return the Policy stating the reasons for objection. On receipt of your letter along with the policy document, the Company will refund the fund value as on the date of cancellation plus unallocated part of premium plus charges deducted from the policy by cancellation of units subject to the deduction of proportionate risk premium and any expenses incurred by the Company on insurance stamp duty and on medical examination.

8. What are the tax benefits available?

As per the current tax laws:
a. Premiums qualify for deduction under Section 80C of the Income Tax Act, 1961.
b. Maturity and withdrawal benefits are tax-free under Section 10 (10D) provided the premium in any year during the term of the policy does not exceed 20% of the sum assured. Death benefit is tax-free under Section 10 (10D) of the Income Tax Act, 1961.
c. The above tax qualifications are subject to income tax laws prevailing from time to time. For any further clarification please consult your tax advisor.

PlaPl

• Fill the simple application form, submit photograph, proofs of age, identity and residence.
  • One should be between 18 – 50 years of age;
  • Terms available: 15 and 20 years (subject to maximum maturity age of 70 years).
• Select the fund(s) where premiums need to be invested as per your risk appetite
• Answer four health related questions
  • Absolutely NO time consuming medical tests.
• Make your premium payment
  • Minimum annual premium is Rs.25,000 and maximum annual premium is Rs.50,000
• Get protection
  • Within 5 minutes, the same time taken to sip a cup of tea, you can complete the documentation formalities with our Sales Representative and set yourself on the way to getting protection. Upon validation of your documents and proofs, we will send the policy to you.
• Your premium amount, net of allocation charges, is invested in the units of the unit linked funds that you select.
• In case of the unfortunate demise of the insured, during the policy term, the policy will pay sum assured or the value of regular premium units whichever is higher, to the beneficiary.
• On maturity, you will receive the value of your fund.

Charges

The following charges would be applicable: Premium allocation charge, policy administration charge, fund management charge, mortality charge, partial withdrawal charge, switching charge, miscellaneous fee, surrender charge and service tax.

In case you discontinue premium payments

Regular Premiums are payable for the entire policy term. In case you do not pay premium by due date, you will have a grace period of 30 days from the due date to pay premium. In case the premium is not paid by the end of the grace period, the Company will send a notice to you within a period of 15 days from the end of the grace period asking you to exercise any of the following two options within a period of 30 days from the receipt of the notice:

a) Revival of the policy, or
b) Complete surrender from the policy without any risk cover.

In case you opt for option a:
In case you opt for option a and revive the policy within the period of 30 days after paying all the due premiums and charges (if any) the company shall revive the policy with all the benefits, with or without the rider benefits if any as mentioned in the policy document; upon being satisfied as to the continued insurability of the life insured on the basis of the information shared by the policyholder.

The risk cover under the policy will continue till the end of revival notice period or till complete withdraw from the policy whichever is earlier. If fund value reduces to zero during the revival notice period the policy will lapse without value and all benefit will cease. Such policy can be also revived before the end of the revival period.

During this period, the policy will be in force for all the risk benefits and all the charges would continue to be deducted. If you opt for option b or a period of 30 days from the receipt of the notice expires, the risk cover will cease.

The revival of the policy shall not take effect until the company has specifically approved your request for revival and the same has been communicated to you in writing. The revival of the policy shall be subject to the underwriting requirements of the Company, as applicable from time to time

In case you opt for option b, then:
Provisions applicable during first five policy years (lock in period)

In case you opt for option b for complete withdrawal from the policy without any risk cover or do not exercises any of the options by the end of the 30 days of the receipt of the notice, whichever is earlier, the fund value after deducting the appropriate discontinuance charges (surrender charges) would be transferred to “Discontinued Policy Fund” (DPF). This fund shall be invested as per the investment regulations for controlled fund issued by the IRDA. The value of this fund would be paid to you at the end of 5 year “lock in period” with a minimum interest of 3.5% p.a.

The policy cannot be revived once the fund value, after deduction of discontinuance charges has been transferred to DPF.

Provisions applicable after first five policy years

In case you opt for option b for complete withdrawal from the policy without any risk cover or do not exercises any of the options by the end of the 30 days of the receipt of the notice, whichever is earlier, the fund value as at the date of receipt of the withdrawal letter or the expiry of the 30 days period, whichever is earlier, shall be paid by means of cheque or demand draft, to be delivered to you, at your last known address or by any other electronic mode of payment.

After completion of five policy year, in case fund value is not sufficient to meet monthly charges, even if all premium due have been paid, the policy will terminate without any value.

Policy Exclusions

No death benefit will be paid if death has occurred directly or indirectly as a result of suicide, within one year from the date of acceptance of risk. However, in such an event, we will refund the fund value of the policy and terminate the policy.

Cancellation of the policy if you do not agree on the terms and conditions mentioned in the policy

You have a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy and where you disagree to any of the terms and conditions, you have an option to return the Policy stating the reasons for objection. On receipt of your letter along with the policy document, the Company will refund the fund value as on the date of cancellation plus unallocated part of premium plus charges deducted from the policy by cancellation of units subject to the deduction of proportionate risk premium and any expenses incurred by the Company on insurance stamp duty and on medical examination.

Tax Benefits

As per the current tax laws:
a. Premiums qualify for deduction under Section 80C of the Income Tax Act, 1961.
b. Maturity and withdrawal benefits are tax-free under Section 10 (10D) provided the premium in any year during the term of the policy does not exceed 20% of the sum assured. Death benefit is tax-free under Section 10 (10D) of the Income Tax Act, 1961.
c. The above tax qualifications are subject to income tax laws prevailing from time to time. For any further clarification please consult your tax advisor.

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Once you take this initiative, you can be rest assured that you will enjoy the satisfaction of being in control of your family’s future and financial destiny.

Advantages

• Higher Protection: In case of an unfortunate event, you will receive the guaranteed sum assured plus the value of your investments.
• Potentially High Returns: Invest in market-linked funds; enjoy potentially high returns in the long term.
• Withdrawal Options: Withdraw money after 5 years through the partial withdrawal option for any extraordinary needs.
• Option to stay invested: Option to stay invested after maturity up to a period of 5 years. Enjoy the opportunity to earn on your investments along with flexibility to withdraw money either as a lump sum or systematically over these years.
• Tax benefits: Enjoy tax benefits on premiums paid and benefits received under this Policy (benefits subject to prevailing Income Tax Laws).

BENEFITS

Death Benefit

In the case of demise of the insured before expiry of the policy term, the sum assured and value of regular premium units becomes payable.

Maturity Benefit

On maturity of the policy at the end of the term, the policy will pay the fund value i.e. value of regular premium units. All death and rider risk covers chosen will cease on maturity.

Surrender Benefit

The policyholder will be paid surrender value only after completion of 5 policy years. However, the policy will acquire surrender value from the first policy year. The surrender value will be the fund value less surrender charges applicable at the time of discontinuance of regular premium.

RIDERS

You can make the proposition more comprehensive by adding additional benefits to your base plan. Riders are important add-ons since they enable you to customize the policy to suit your individual requirements and future needs. They help you derive maximum benefit from your insurance plans.

DLF Pramerica Unit Linked Critical Illness (CI) Rider

This Rider provides protection cover in case the life insured is diagnosed with/undergoes any of the following 10 critical illnesses/conditions/surgeries—aorta surgery, blindness, cancer, coronary artery bypass surgery, heart attack, heart valve surgery, kidney failure, major organ transplant, paralysis and stroke. If one were diagnosed with any of these specified illnesses, the critical illness benefit would be paid in lump-sum, subject to a survival period of 30 days. The base plan continues even after payment under this additional benefit.

DLF Pramerica Unit Linked Accidental Death Benefit (ADB) Rider

On death due to an ill-fated accident, the beneficiary gets an additional sum assured as chosen under this rider. It is available in addition to the basic death benefit under the base plan.

FEATURES
Fund Options

In our endeavour to help your investments benefit from the growing markets, as per your risk appetite, we offer you four fund options, namely Debt Fund, Balance Fund, Growth Fund and Large Cap Equity Fund.

Partial Withdrawal

We understand your need for liquidity, so we offer you the facility of partial withdrawal. Partial withdrawal shall only be allowed after five years from the date of commencement of the policy.

Other Features

Other features such as switches, settlement option, increase or decrease in sum assured, addition and deletion of riders and premium redirection are also available.

Policy Limits

Maximum sum assured multiple table

Plan working:

• You choose a premium amount and term for which you want to save regularly and to have risk cover on your life.
• You choose a Sum Assured for which you want to be covered within the minimum and maximum cover multiple limits.
• You have the option of augmenting your plan with additional riders like DLF Pramerica Critical Illness Rider and DLF Pramerica Accidental Death Benefit Rider.
• You choose the investment fund/s that best suits your investment goals.
• Your premium amount, net of allocation charges, is invested in the units of the unit linked funds that you select.
• The unit price of your funds, which changes daily, will reflect the performance of your funds.
• Deductions are made from the unit account to meet expenses and the cost of life cover and any other risk covers that you select.
• In case of the unfortunate demise of the insured, during the policy term, the policy will pay sum assured and the value of regular premium units to the beneficiary.
• On maturity, you will receive the value of your fund.

Plan charges:

The following charges would be applicable: Premium allocation charge, policy administration charge, fund management charge, mortality charge, partial withdrawal charge, switching charge, premium redirection charge, miscellaneous fee, surrender charge and service tax.

In case of discontinuation of premium payment:

In case you are not able to pay the due premium on the due date, you may pay the due premiums within the grace period which is 15 days for monthly mode policies and 30 days for all other modes. In case the premium is not paid by the end of the grace period, the company will send you a notice within a period of 15 days from the end of the grace period asking you to exercise any of the following two options within a period of 30 days from the receipt of the notice:

1. Revival of the policy, or
2. Complete surrender from the policy without any risk cover.

In case you opt for option 1) and revive the policy within the period of 30 days after paying all the due premiums and charges (if any) the company shall revive the policy with all the benefits, with or without the rider benefits if any as mentioned in the policy document; upon being satisfied as to the continued insurability of the life insured on the basis of the information shared by you.

In case you opt for option 2) for complete withdrawal from the policy without any risk cover or do not exercises any of the above options by the end of the 30 days of the receipt of the notice, whichever is earlier, the fund value after deducting the appropriate discontinuance charges applicable at the date of discontinuance, would be transferred to “discontinued policy fund”. The value of this fund would be paid to the policyholder at the end of the “lock in period”.

The risk cover under the policy will continue till the end of revival period or till complete withdraw from the policy whichever is earlier. If fund value reduces to zero during the revival notice period the policy will lapse without value and all benefit will cease. Such policy can be also revived before the end of the revival period.

After premium payment period, the policy will continue for all benefits till end of the policy term provided the fund value is sufficient to meet monthly charges. The policy will terminate if fund value is not sufficient to meet monthly charges.

Policy exclusions:

No death benefit will be paid if death has occurred directly or indirectly as a result of suicide, within one year from the date of acceptance of risk. However, in such an event, we will refund the fund value of the policy and terminate the policy.

Policy cancellation:

You have a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy. If you do not agree to the terms and conditions, you have the option to return the Policy stating the reasons thereof within this period. On receipt of your letter along with the policy documents, we will refund the fund value plus unallocated part of premium plus charges deducted from the policy by cancellation of units subject to the deduction of proportional risk charges for the period the policy was on cover, the expenses incurred by us on medical and stamp duty.

Tax Benefits

As per the current tax laws:
a. Premiums qualify for deduction under Section 80C of the Income Tax Act, 1961.
b. Maturity and withdrawal benefits are tax-free under Section 10 (10D) provided the premium in any year during the term of the policy does not exceed 20% of the sum assured. Death benefit is tax-free under Section 10 (10D) of the Income Tax Act, 1961.
c. The above tax qualifications are subject to income tax laws prevailing from time to time.

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DLF Pramerica Assure Money + is a traditional non participating endowment plan which guarantees the savings, the protection and the returns.

Key features:

• Annual Regular Additions: To help earn and grow benefits regularly, we add an amount ‘Annual Regular Additions’ based on your sum assured at the end of every policy year
• Guaranteed Maturity Additional: At maturity, your policy gives you back a guaranteed benefit amount.
• Enhanced safety: In case of unfortunate demise of the life insured, the policy gives double the sum assured along with the accrued Annual Regular Additions
• Loan: Flexibility to borrow against the insurance policy
• Riders: Increased security with additional rider options

BENEFITS

Benefit on Death

In an unfortunate case where the life insured dies after attaining age of 8 years last birthday as on last policy anniversary date, the policy will pay the following benefits

a) 2 times the sum assured chosen at inception PLUS
b) Annual Regular Additions accrued till the date of death.

In case the life insured dies before attaining age 8 years last birthday as on last policy anniversary, the policy will pay the total premiums received till date( after deducting service tax, education cess and underwriting extra) with interest. In case customer has opted for any riders, benefits will be paid accordingly subject to terms and conditions of the rider.

Benefit on Maturity

Is payable once the policy matures at the end of the policy term. You will receive the following benefits

a) Base sum assured chosen at inception plus
b) Accrued Annual Regular Additions plus
c) Guaranteed Maturity Additions

Additions

Annual Regular Additions

You are rewarded with Annual Regular Additions at the end of every policy year.

Rate for Annual Regular Additions is declared by the Company in advance on the 1^st of April every year and will vary depending on the benchmark rate. This addition will accrue for each completed policy year and will be payable either at maturity or in case of demise of the life insured. For every policy, this declared rate will be applicable to policy year commencing in the period starting from 1st April to corresponding 31st March in the following year. Once accrued, the annual regular additions become guaranteed. The current rate of Annual Regular Addition is Rs 65 per 1000 of sum assured, which will be applicable till March 2012.

Guaranteed Maturity Additions

You will also be rewarded with Guaranteed Maturity Additions. The additions will be determined as Rs 35 per 1000 of sum assured for each completed policy year provided all the due premiums have been paid and will be payable on maturity. In case of paid up policy, proportionate guaranteed maturity additions will be payable on maturity provided at least 5 complete years premiums have been paid.

FEATURES

1. What is DLF Pramerica Assure Money +?

DLF Pramerica Assure Money + is a traditional non participating endowment plan which guarantees the savings, the protection and the returns. It provides

• Annual Regular Additions: To help earn and grow benefits regularly, we add an amount ‘Annual Regular Additions’ based on your sum assured at the end of every policy year
• Guaranteed Maturity Additional: At maturity, your policy gives you back a guaranteed benefit amount.
• Enhanced safety: In case of unfortunate demise of the life insured, the policy gives double the sum assured along with the accrued Annual Regular Additions
• Loan: Flexibility to borrow against the policy
• Riders: Increased security with additional rider options

2. How does this plan work?

• Select the level of protection you want subject to a minimum sum assured of Rs 50,000
• Select the term of policy from available options of 10, 15, 20 or 25 years
• Pay the premium based on the age, gender of life insured, sum assured and the policy term.

3. When does the risk cover starts?

The risk commences once the life insured attains age of 8 years as on last birthday last policy anniversary date.

4. Are there any riders available?

Yes, one can opt for Accidental death benefit or Critical illness riders .

5. What happens if I discontinue paying the premium within 2 years?

If premium is discontinued within the first 2 policy years and the grace period is over, the policy will lapse. Such lapsed policies can be reinstated within a reinstatement period of three years from the date of first unpaid premium by paying all due premiums with interest. In case the policy is not reinstated, the policy will lapse without any value and no policy benefits will be payable.

6. What happens if I discontinue paying the premium after first 2 years?

After paying premium for first two full policy years, if policyholder does not pay subsequent premium/s within grace period, the policy will become paid up and the benefits payable under the policy will be reduced proportionately..

7. How are the benefits structured for paid up policies?

• In case of death during the period after the policy has become paid up, the following reduced death benefit will be paid:

   

  {T/N × (2 × Sum Assured) + Accrued Annual Regular Additions till the date the policy has become paid up}

• At maturity following reduced maturity benefit would be paid after the policy has become paid up:

  If premiums have been paid for less than 5 policy years then:

  {T/N × (Sum Assured) + Accrued annual regular additions declared till the date of policy becoming paid up}

  If premiums have been paid for at least 5 complete policy years then:

  {T/N × (Sum Assured + Guaranteed Maturity additions) + Accrued regular annual additions declared till the date of policy becoming paid up}

  Where:
  T = Total number of premiums paid till the date of paid up
  N = Total number of premiums payable under the policy

8. Can I surrender the policy?

Policy can be surrendered anytime after completion of 2 policy years provided 2 full policy years’ premiums have been paid. In case of surrender of the policy, a surrender value would be paid subject to a minimum of 30% of all premiums paid excluding first year’s premium.

9. Can a policy be reinstated?

• Reinstatement is available for up to 3 years from the date of first unpaid premium.
• Reinstatement up to 90 days is done at the request of the policyholder without medical declaration; from 90 to 180 days with medical declaration; and over 180 days with medical examination.
• Payment of all unpaid premiums with interest is required to reinstate the policy in all cases.
• Once the policy is reinstated, all the benefits and additions under the policy would be reinstated.

10. What are the tax benefits under this plan?

Tax benefits will be applicable as per prevailing tax laws. Tax laws are subject to change. Premiums qualify for deduction under Section 80 C of the income tax act 1961.The benefits received from the policy qualify for deduction under section 10(10D) of income tax act 1961.

Plan working

• Select the level of protection you want subject to a minimum sum assured of Rs 50,000
• Select the term of policy from available options of 10, 15, 20 or 25 years
• Pay the premium based on the age, gender of life insured, sum assured and the policy term.

The risk commences once the life insured attains age of 8 years as on last birthday last policy anniversary date.

Policy lapsation

If premium is discontinued within the first 2 policy years and the grace period is over, the policy will lapse. Such lapsed policies can be reinstated within a reinstatement period of three years from the date of first unpaid premium by paying all due premiums with interest. In case the policy is not reinstated, the policy will lapse without any value and no policy benefits will be payable.

After paying premium for first two full policy years, if policyholder does not pay subsequent premium/s within grace period, the policy will become paid up and the benefits payable under the policy will be reduced proportionately.

Benefits structure

• In case of death during the period after the policy has become paid up, the following reduced death benefit will be paid:

   

  {T/N × (2 × Sum Assured) + Accrued Annual Regular Additions till the date the policy has become paid up}

• At maturity following reduced maturity benefit would be paid after the policy has become paid up:

  If premiums have been paid for less than 5 policy years then:

  {T/N × (Sum Assured) + Accrued annual regular additions declared till the date of policy becoming paid up}

  If premiums have been paid for at least 5 complete policy years then:

  {T/N × (Sum Assured + Guaranteed Maturity additions) + Accrued regular annual additions declared till the date of policy becoming paid up}

  Where:
  T = Total number of premiums paid till the date of paid up
  N = Total number of premiums payable under the policy

Policy Surrender

Policy can be surrendered anytime after completion of 2 policy years provided 2 full policy years’ premiums have been paid. In case of surrender of the policy, a surrender value would be paid subject to a minimum of 30% of all premiums paid excluding first year’s premium.

Policy reinstatement

• Reinstatement is available for up to 3 years from the date of first unpaid premium.
• Reinstatement up to 90 days is done at the request of the policyholder without medical declaration; from 90 to 180 days with medical declaration; and over 180 days with medical examination.
• Payment of all unpaid premiums with interest is required to reinstate the policy in all cases.
• Once the policy is reinstated, all the benefits and additions under the policy would be reinstated.

Tax benefits

Tax benefits will be applicable as per prevailing tax laws. Tax laws are subject to change. Premiums qualify for deduction under Section 80 C of the income tax act 1961.The benefits received from the policy qualify for deduction under section 10(10D) of income tax act 1961.

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This is a traditional non participating endowment plan which guarantees the savings, the protection and the returns accrued. It provides

• Hassle free issuance: No more filling up lengthy forms, no time-consuming medical tests.
• Secured Future with Assured Returns: Secures the future of your family by way of life protection and enhances savings with assured returns.
• Annual Regular Additions: Wealth creation through regular additions would happen at the end of each policy year. The regular addition rate is Rs. 45 per Rs. 1, 000 of sum assured, which will be applicable till March 2012.
• Assured Maturity benefits: Sum assured with Accrued Annual Regular Additions payable at maturity.
• Loans: Flexibility to avail loans against the policy Enhanced protection: Option to enhance protection through Accidental Death Benefit Rider

BENEFITS

Benefit on Death

In case of death of the life insured, during first policy year 50% of Sum Assured would be payable. After completion of first policy year Sum Assured along with Accrued Annual Regular Additions will be paid to the beneficiary.

Benefit on Maturity

At maturity, Sum Assured along with Annual Regular Additions will be paid.

Annual Regular Additions

We reward you with Annual Regular Additions at the end of every policy year which the company will declare at the start of each financial year.

FEATURES

Plan working

• Select the level of protection you want and the policy term.
• Pay the premium based on the sum assured, age, policy term & gender of the life insured.
• The policy pays the death benefit as sum assured plus accrued annual regular additions in case of an eventuality.
• At maturity, the policy pays the sum assured along with the accrued Annual Regular Additions.

Benefit structure for a Paid up Policy

On Maturity:

At maturity following reduced maturity benefit would be paid after the policy has become paid up:

{T/N × (Sum Assured) + Accrued annual regular additions declared till the date of policy becoming paid up}

On Death:

In case of death during the period after the policy has become paid up, the following reduced death benefit will be paid:

{T/N × (Sum Assured) + Accrued Annual Regular Additions till the date the policy has become paid up}

Where:
T = Total number of premiums paid
N = Total number of premiums payable under the policy

Policy Surrender

Policy can be surrendered anytime after completion of 2 policy years provided 2 full policy years’ premiums have been paid. In case of surrender of the policy, a surrender value would be paid subject to a minimum of 30% of all premiums paid excluding first year’s premium.

Policy Lapsation

If premium is discontinued within the first 2 policy years and the grace period is over, the policy will lapse. Such lapsed policies can be reinstated within a reinstatement period of three years from the date of first unpaid premium by paying all due premiums with interest. In case the policy is not reinstated, the policy will lapse without any value and no policy benefits will be payable.

After paying premium for first two full policy years, if policyholder does not pay subsequent premium/s within grace period, the policy will become paid up and the benefits payable under the policy will be reduced proportionately.

Policy Reinstatement

• Reinstatement is available for up to 3 years from the date of first unpaid premium.
• Reinstatement up to 90 days is done at the request of the policyholder without medical declaration; from 90 to 180 days with medical declaration; and over 180 days with medical examination.
• Payment of all unpaid premiums with interest is required to reinstate the policy in all cases.
• Once the policy is reinstated, all the benefits and additions under the policy would be reinstated.

Tax Benefits

Tax benefits will be applicable as per prevailing tax laws. Tax laws are subject to change. Premiums qualify for deduction under Section 80 C of the income tax act 1961.The benefits received from the policy qualify for deduction under section 10(10D) of income tax act 1961.

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