This is a non-participating plan that covers you throughout the term and on maturity returns all the premiums paid by you. The amount of premium returned will depend on term of the plan and the premium chosen by you. It’s a hassle free plan with less documentation. you also get the dual benefit of a risk cover and savings. At the end of the term, a minimum of the premiums paid by you will be returned depending on the option you choose. In other words, this is a term plan that makes financial sense by offering maturity benefits as well..

Key Features

Return of premiums

This is a non-participating plan that covers you throughout the term and on maturity returns all the premiums paid by you. The amount of premium returned will depend on term of the plan and the premium chosen by you.

Hassle-free

With a simple application procedure, no medical tests and automatic debit of premiums: you can have an insurance plan without any worries.

Death Benefit

The beneficiary will receive the death benefit (Sum assured less premium unpaid during the year of death) in case of the unfortunate death of the life insured.

Maturity Benefit

On maturity, the premiums paid by you will be returned. The amount payable to you on maturity will depend on the term of the policy chosen by you.

The table below shows you the Maturity and Death Benefit for different premium* and term options

Premium Payment Mode Term

10 years 15 years 20 years and the % of premiums returned on maturity 100% 111% 125%

MONTHLY Premium (Rs.) 500 750 1000 1500 500 750 1000 750 1000

Maturity Benefit (Rs.) 60,000 90,000 120,000 180,000 100,000 150,000 200,000 225,000 300,000

QUARTERLY Premium (Rs.) 1,549 2,314 3,079 4,608 1,549 2,314 3,079 2,314 3,079

Maturity Benefit (Rs.) 61,176 91,765 122,353 183,529 101,859 152,788 203,718 229,412 305,882

HALF-YEARLY Premium (Rs.) 3,015 4,515 6,015 9,015 3,015 4,515 6,015 4,515 6,015

Maturity Benefit (Rs.) 60,000 90,000 120,000 180,000 99,900 149,850 199,800 225,000 300,000

ANNUALLY Premium (Rs.) 5,882 8,824 11,765 17,647 5,882 8,824 11,765 8,824 11,765

Maturity Benefit (Rs.) 58,824 88,235 117,647 176,471 97,941 146,912 195,882 220,588 294,118

Age Death Benefit(Rs.)

18 - 30 290,000 500,000 700,000 1,050,000 410,000 660,000 920,000 730,000 1,000,000
31 -35 230,000 400,000 560,000 840,000 310,000 500,000 700,000 530,000 730,000
36 - 40 170,000 290,000 410,000 610,000 230,000 360,000 500,000 390,000 530,000
41 - 45 130,000 210,000 290,000 430,000 160,000 260,000 360,000 290,000 400,000
46 -50 90,000 150,000 200,000 300,000 120,000 190,000 260,000 220,000 300,000

* Premiums are excluding service tax.
Advantages

• Twin benefit of risk cover and savings
• Affordable premiums
• Hassle free premium payments
• No medical examinations
• Tax Benefit
• Section 80C, 10(10D) of Income Tax Act, 1961 would apply. You are advised to consult your tax advisor for details.

Eligibility:

Entry Age Minimum age - 18 years
Maximum age - 50 years

Term 10, 15 or 20 years

Maturity Age MAX 60 years for Term 10 years ,
65 years for Term 15 years,
70 years for Term 20 years .

General exclusion
In case the life insured commits suicide within 1 (one) year of the plan, no benefits outlined in the plan would be payable.

Prohibition of Rebates

Section 41 of the Insurance Act, 1938 states: -
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

(2) Any person making default in complying with the provision of this section shall be punishable with fine, which may extend to five hundred rupees.