This plan is planned to help secure your family’s financial needs in case of doubts. The plan does this by providing a lump sum to the family of the life assured in case of death or critical illness (if option is chosen) of the life assured during the term of the contract. One can choose the lump sum that would restore the income lost to one’s family in the ill-timed event of one’s death. This helps your family to maintain their financial independence, even when you are not around.
Features -
Policy Term - Min.policy term is 5 years and Max. term is 30 years for regular premium payment.Policy Term for single premium payment is 2 years to 15 years.
Entry Age - Min.Entry age is 18 Years and Max.age is 60 years(55 years with optional benefits)
Maturity Benefits - There are no maturity or survival benefits.
Death Benefits – Nominee or Assignee (if policy is assigned) will receive the chosen sum assured.
Plan Choice - This plan can be taken on a single life basis or joint life (first claim) basis.
Additional Optional Benefits
Critical illness Benefits –
A pay amount, equal to the sum Assured selected under this benefits, on diagnosis of any one of the 6 critical illnesses. The Sum Assured is payable only if you survive for 30 days after the date of CI Benefit claim. .
Accidental Death Benefits (ADB) –
An additional amount, equal to the sum assured selected under this benefit, incase of your unfortunate demise.
- Due to an accident, and
- Within 90 days of the accident.
Accelerated Sum Assured (ASA) Benefit. –
An account, equal to the sum assured selected under this benefit, on diagnosis of any one of the 6 critical illnesses.
Advantages
- High cover at a very nominal cost.
- Flexibility to choose the Sum Assured.
- Additional benefit options can be availed at marginal costs.
- Premium amount remains the same over the term of the policy in case of regular premium
- Option of paying single premium or regular premium.
- Tax benefits under sections 80C, 80D and 10(10D) of Income Tax Act, 1961.
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