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All You Need To Know

ELIGIBILITY

Type of Plan
A Non-Linked, Non Participating, Individual Savings Life Insurance Plan.

Coverage
All Individuals (Male | Female | Transgender)

Benefit Option
Lump Sum payout at policy maturity

Age of the Life Insured at the Entry (Minimum)

  • Single Life 30 days in case the life insured is a minor.
  • Joint Life 18 years.

Age of the Life Insured at the Entry (Maximum)

  • Single Life 65 years
  • Joint Life 50 years
  • Single Pay Option B 50 years

Minimum Annualized Premium

Single Pay: Rs.1,00,000

6-12 pay:Rs.30,00

Maximum Annualized Premium

No Limit (subject to board approved underwriting policy)

Premium Paying Term (PPT) and Policy Term (PT)

Premium Payment Term (Years) Policy Term (Years)
  Minimum Maximum
Single Pay 5 20
5 10
6 12
7 13
8 14 35
9 15
10 16
11 17
12 18


Premium Payment Frequency and Frequency Loading

Frequency Annual Semi-annual Quarterly Monthly
Modal Factors 0.00% 3.50% 5.00% 6.00%


Premium Bands

Annualized Premium Band 1 Band 2 Band 3 Band 4 Band 5 Band 6
Single Pay NA NA 100,000 to 199,999 200,000 to 499,999 500,000 to 24,99,999 25,00,000 & above
Limited Pay Upto 49,999 50,000 to 99,999 100,000 to 199,999 200,000 to 499,999 500,000 to 24,99,999 25,00,000 & above


What’s not Covered?

In case of death due to suicide within 12 months from the date of commencement of the risk or from the date of revival of the policy, as applicable, the nominee(s)/ Legal heir(s) or the beneficiary of the Policyholder shall be entitled to receive the total premiums paid till date of death or surrender value available on the date of death, whichever is higher, provided the policy is In-force.

For Joint Life Protection, the suicide exclusion described above applies in the event of death of either the Primary Life Insured or the Secondary Life Insured.

How to initiate Claim?

3 quick steps, everything online.

  • Fill basic details
  • Claim intimation
  • Document submission