Thereafter, a fixed monthly income which was chosen at inception is paid to the nominee following the month of
death till the end of the term subject to a minimum period of 4 years.
Guaranteed Cash Benefits depending on the term, age and premium paying term, is paid every month after the completion of the premium paying
term till the end of the term or death of the insured whichever is earlier.
All future premiums are waived off and paid for by the company under the Additional Savings Benefit, an amount equal to an annual premium is paid every
year till the end of the term under the Income Benefit and on Maturity, total Fund Value including the top - up Fund Value which was automatically allocated to the Secure Fund on death is paid
Guaranteed Cash Benefits @ 1 % of the Guaranteed Maturity Benefit in case of monthly mode or 11.5 % in case of annual mode is paid from the end of
PPT till end of term or death whichever is earlier
Option to have increasing sum assured at the rate of 5 % every year at simple
rate till the end of the term period without increasing in premium amount
Max Life Partner Care rider can be availed under the plan wherein the aggregate of all future premiums
payable till the end of the term or till the insured attains 60 years of age is payable immediately if the insured dies during the tenure of then plan.
If the policy is taken under joint life, on death of the first policyholder, the Sum Assured is paid and the plan continues till the second life is alive or
till the end of the term whichever is earlier.
Regular Guaranteed Income is paid after the completion of the Premium Paying
Tenure till the end of the term @ 11 % - 13 % of the Sum Assured depending on the premium amount paid and the premium paying term chosen.
If Akash
survives till the end of the term of the policy, he will receive the basic sum assured, which is Rs. 3,00,000 as well as the accrued bonuses and the policy will be terminated thereafter.
Policy Termination or Surrender Benefit: the policy may be surrendered by the Master policyholder but the member may continue the
cover till the end of the term but there is no Surrender Value payable
Chosen «Monthly Benefit» will be paid monthly in arrear increasing at 5 % every policy year to the
nominee till the end of the term OR 5 years, whichever is later on death of life assured, payable when the unfortunate event of death of life assured has been confirmed.
On total and permanent disablement due to an accident, all future premiums both under the basic policy and the rider / s will be
waived till the end of the term of the rider or death of the assured life, if earlier.
In the latter case, 100 % of the basic Sum Assured is paid immediately on death and thereafter, 2 % of the basic Sum Assured is paid monthly post
death till the end of the term for a minimum of 36 months.
In the latter case, 50 % of the benefit is paid immediately on death and thereafter, 1 % of the basic Sum Assured is paid monthly post death
till the end of the term for a minimum of 36 months.
Simple reversionary bonuses accrue from the 3rd policy year and shall continue till the end of the term
If it is a joint life plan, on the death of the first life insured, the sum assured is paid out and the plan continues as long as the second life is alive or
till the end of the term, whichever is earlier.
The additional death benefit is the discounted value of 25 % of the SA payable in the last 4 years of the policy and Family Income Benefit which is the monthly income @ 1 % of SA from date of death till end of term
The additional death benefit is the discounted value of the basic SA payable on maturity and Family Income Benefit which is the monthly income @ 1.5 % of SA from date of death till end of term
Simple product — the life cover is fixed, the tenor (period of cover) is fixed, and there is a fixed premium that you have to pay
till the end of the term.
The only glitch with a family floater is that the cover is fixed and if it is exhausted on the treatment of one member during the policy term, any other member would not be able to avail further benefits from the plan,
till the end of the term.
Maturity benefits: Unlike traditional life insurance, term benefit policies offer total refund of premiums and additional bonus to the policy - holder, if the policy is continued
till the end of the term.