Optional Riders
Critical Illness Rider
A benefit equal to the Sum Assured will be available on the occurrence of any of the following Critical Illnesses. Critical Illnesses covered are Breast Cancer; Ovarian/Fallopian Tube Cancer; Cervical Cancer; Uterine Cancer; Vaginal / Vulval Cancer. A person is eligible for this benefit up to 60 yrs of age. This benefit can be availed for a min Sum of Rs 50000 and for a max Sum equal to the Sum assured under the basic plan subject to the maximum of Rs 5 lakh overall limit taking all critical illness riders under all existing policies of the Life Assured.
Congenital Disability Benefit Rider
If a child born to the policyholder suffers from any of the congenital disabilities listed below, a benefit equal to 50 % of the Sum Assured will be available for two children. The list of Congenital disabilities : Downs syndrome ; Spina Bifida ; Tetralogy of fallot; Oesophageal Atresia & Tracheo-oesaphageal Fistula ; Anal Atresia; Imperforate anus ; Cleft Palate with or without Cleft Lip.
This benefit is available for a maximum of two such children and this benefit ceases at the age of 40 years.
This benefit can be availed for a minimum Sum of Rs 50000 and a maximum sum of Rs 500000.
Accident Benefit Rider
Accident benefit rider can be availed by paying additional premium of Rs.1 per 1000 sum assured. This rider pays for an additional sum assured in the event of death due to an accident.
This benefit can be availed for a minimum sum of Rs 50000 and for a maximum sum equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakhs.
Loan
Loan is available under the plan after the policy acquires paid-up value.
Grace Period
A grace period of one-month but not less than 30 days will be allowed for payment of premium.
Surrender Value
The Guaranteed Surrender value will be available after the expiry of 3 policy years provided the premiums have been paid for at least three years. The Guaranteed Surrender Value is equal to 30% of the total amount of premiums paid excluding the premiums paid for the first year, any premiums paid towards riders, all extra premiums that may have been paid less the amount of survival benefits paid earlier. The cash value of any existing bonuses, if, any will also be paid.
Benefits
Survival Benefits
1. 20 % of the Sum Assured at the end of 5 and 10 years & 60% of the Sum Assured payable together with vested bonus, and Final Additional Bonus, if any, at the end of 15 years
2. 20 % of the Sum Assured at the end of 5, 10 and 15 years & 40% of the Sum Assured payable together with vested bonus, and Final Additional Bonus, if any, at the end of 20 years
Death Benefits
Full sum assured along with guaranteed additions and bonus, irrespective of earlier survival benefits are payable.
