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 Benifit Illustration
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| Event |
Maturity/death benefits payable |
On death during the policy term
|
Sum assured along with vested bonuses
will be paid and the policy comes to an end. |
On survival up to the
end of every 3rd year from date of commencement of policy
but before the end of policy term
|
Periodic lump sum payments (known as survival benefits) will be paid.
Each survival benefit = [S / {(n / 3) + 1 )]Where 'S' is the sum assured and 'n' is the term of the policy |
On survival up to the end of policy
term
|
The remaining sum assured (sum assured
less the total amount of survival benefits already paid) along with vested bonuses,
will be paid.
The remaining sum assured that will be paid at policy
maturity would be two times the survival benefit payment made
at the end of every three years as mentioned above |
| Bonus: Simple reversionary
bonus will accrue during the policy term. |
|
| Condition |
Limit |
| Minimum age at entry |
15 |
| Maximum age at entry |
65 |
| Maximum age at maturity |
75 |
| Minimum policy term |
6 years |
| Maximum policy term |
24 years |
| Minimum sum assured |
Rs. 50,000 |
|
| Payment mode |
Rebate |
| Yearly |
1.5% of the tabular
premium as rebate |
| Half-yearly |
0.75% of the tabular
premium as rebate |
| Sum Assured |
Rebate |
| Below Rs. 1,00,000 |
Nil |
| Rs. 1,00,000 to Rs. 1,99,000 |
Re. 1 per thousand |
| Rs. 2,00,000 to Rs. 2,99,000 |
Rs. 2 per thousand |
| Rs. 3,00,000 and above |
Rs. 3 per thousand |
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