This is a single premium, non-linked, with profits Money Back type Plan.
During 1st five years policy years : Sum Assured only.
After completion of five policy years : Sum Assured + Loyalty Addition, if any.
For Policy Term of 9 years :15% of SA, after 3rd & 6th policy year.
For Policy Term of 12 years :15% of SA, after 3rd ,6th & 9th policy year.
For Policy Term of 15 years :15% of SA, after 3rd ,6th,9th & 12th policy year.
Single Premium Paid + Loyalty Additions, if any.
Age- 35, S.A.- `1,00,000, Term – 12 years, Single Premium-`74,434
Entry Age: 35
SB at the age 38 : 15% of S.A=Rs.15,000
In case of death at the age 40:
Death Benefit = Sum Assured + Loyalty Addition (if any)
= Rs.1,00,000+Loyalty addition for 5years.
SB at the age 41 : 15% of S.A=Rs.15,000
SB at the age 44 : 15% of S.A=Rs.15,000
Maturity at the age 47:
Maturity Benefit = Refund of Premium + Loyalty addition if any
=Rs.74,434 + Loyalty addition for 12years
Features & Conditions:
Minimum age at entry : 15 years lbd
Policy term : 9, 12 or 15 yrs
Term Max Age atEntry Min SumAssured
9 years 66 years ` 35,000
12 years 63 years ` 50,000
15 years 60 years ` 70,000
Max. Age at maturity : 75 years nbd
Maximum S.A. : No limit
SA in multiples of `5,000 only.
Available Riders: Nil
Mode of Payment: Single Premium
Policy Loan: Only after one policy year.
Back Dating: Allowed without lean months benefit. Interest will be charged for exact no. of days from DOC to date of payment.
Service Tax: 3.75%
Tax Benefits :
On Basic Prem : u/s 80C up to 10% of SA
Maturity : Taxable
Death Claim : u/s 10(10D)