This plan offers you a backup income opportunity that guarantees more than just income, it offers peace of mind. In time of crisis, neither you nor your family will have to sacrifice their needs and aspirations
Features:
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Flexibility to choose the amount you wish to pay every year
Flexibility to choose the Income Benefits
- Option A: if you want to receive Income Benefit equal to 100% to 600% of Annual Premium for 6 years
- Option B: if you want to receive Income Benefit equal to 200% of Annual Premium for 12 years
Inbuilt Accidental Death Benefit
Enhance your insurance with appropriate rider optionst
Benefits:
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Income Benefit:
After the completion of the policy term, you will start receiving Income Benefit payouts at the end of each year during the Payment Period which are fully guaranteed.
Depending on the income benefit chosen at inception you will receive income payout during the payment period.
- For Income Benefit Option A : Receive income increasing from 100% to 600% of annual premium at the end of each year
- For Income Benefit Option B : Receive income of 200% of annual premium at the end of each year
Death Benefit:
During the policy term, Sum Assured on death will be paid to the nominee, which is higher of:
- 10 times of the annual premium (excluding service tax and cess, any applicable rider premiums and underwriting extras, if any); or
- 105% of the total premiums paid as on the date of death (excluding service tax and cess, any applicable rider premiums and underwriting extras, if any); or
- Maturity Sum Assured(1); or
- Sum Assured
(1)where Maturity Sum Assured is the commuted value of outstanding Income Benefit on maturity date.
In the event life insured dies due to an accident during the policy term after attaining age of 18 years; we shall pay an additional Sum Assured to the nominee as an Accidental Death Benefit, subject to a maximum limit of Rs.1 crore.
Maturity Benefit:
On maturity date, you can choose to receive the commuted value of the Income Benefit as a lumpsum.
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