It is a unit-linked non-participating individual life insurance plan that offers the potential for high returns, by investing a portion of your money in equity, while also it has come up with the dual assurances of capital guarantee and life cover. Under this policy, the investment risk in the investment portfolio has to be borne by the policyholder.
Key Highlights:
This plan protects your savings from market downturns through an Assured Benefit and under this plan, you can also get a reward such as loyalty additions and wealth booster.
For five pay and seven pay options, there is a provision to increase or decrease your sum assured amount, which is subject to underwriting and terms and conditions of the company. However, under the single pay option, this facility is not available.
This policy has come up with different charges that have to be paid by the life assured such as Premium Allocation Charge, Policy Administration Charge, Mortality Charge, Fund Management Charge (FMC), and charge for investment guarantee.
Under this plan, you can avail of death benefits and maturity benefits too.
Eligibility Criteria:
Parameters
Descriptions
Entry age
Minimum – 8 years, Maximum – 60 years and 70 years
Age at maturity
Minimum – 18 years, Maximum – 70, 72, and 80 years
Premium payment term
Single pay, 5 years, and 7 years
Policy term
10 years and 12 years
Modes of premium payment
Single pay, Annual, half-yearly, and monthly
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