DETAILS:
This is a regular premium, non-linked, with profits Endowment Assurance Plan. This Plan shall be allowed to standard lives only under Non-Medical limits.

Death Benefit:
First 5 years of Policy: Sum Assured on death.
6th year onwards: Sum Assured on Death + Loyalty additions if any.
Sum Assured on Death= Higher of Basic SA or 10 times of annualized Premium or 105% of total premiums paid as on date of death. The premiums exclude taxes, extra premium and rider premiums.

Maturity Benefit:
Basic Sum Assured + Loyalty Additions if any.

CASE STUDY:

Age- 35, S.A.- Rs.2,00,000, Term – 20 years, Basic Yly Premium: Rs.6,874

Entry age is 35yrs.

In case of Death at Age 41 i.e. 6th Year of Policy:

Death Benefit = S.A. + Loyalty Addition for 5 Years

=2,00,000 + 5,000 ( 25 x 200) = Rs.2,05,000

In case of Accidental Death (If opted for Accident Rider):

Additional Rs.2,00,000 will be paid along with Natural Death Benefit.

Total: Rs.2,05,000 + Rs.2,00,000= Rs.4,05,000

Maturity at the age 55.

Maturity Benefit= Basic S.A. + Loyalty Additions@8%

= Rs.2,00,000 + Rs.33,000 (165×200)

= Rs.2,33,000

Maturity Benefit at age 55:

Maturity Benefit = Basic S.A. + Loyalty Additions@8%

= Rs.2,00,000 + Rs.33,000 (165×200)

Maturity Benefit = Rs.2,33,000

FEATURES:

Minimum age at entry : 8 years lbd
Maximum age at entry : 55 years nbd
Max. age at maturity : 70 years nbd
Minimum term : 10 years
Maximum term : 20 years
Minimum S.A. : Rs.75,000/- & in multiples of  Rs.5,000 thereafter.
Maximum S.A. : Rs.2,00,000/- under all Policies.

Available Riders:
Accident Benefit Rider: Max 1 Crore under all Plans. Premium Rs.0.50 per thousand S.A. for all and Rs.1.00 for those opting for cover on police duty.
Mode of Payment: Yearly, Half Yly, Qly & Mly ( SSS & ECS)

Paid Up/ Surrender/Policy Loan:Available after Payment of 3 full years Premiums.
Revivals: Within 2 years of FUP.
Back Dating: Allowed with lean Month’s benefits.

Service Tax:
1st Year of Policy : 3.75%
2nd Year onwards : 1.875%
Tax Benefits :
On Basic Premiums : u/s 80C
Maturity/Death claim : u/s 10(10D)