Frequently Asked Questions

Guaranteed Base Income is expressed as percentage of the Sum Assured on Maturity. This guaranteed amount is known to you at the inception and payable at the end of each year during the payout period as per your chosen plan option.

The percentages are as follows:

Yes the plan provides the option to the policyholder to receive the future payouts monthly instead of yearly. In such cases, the monthly payout shall be 8% of the annual payout.

On death of the life assured during the term of the policy, provided all due premiums are paid; we would pay to the nominee the higher of the following:

• Sum Assured on Death + Accrued Reversionary Bonuses + Interim Bonus (if any) + Terminal Bonus (if any) 105% of premiums# paid till date
• Where, the Sum Assured on Death shall be the higher of:
• Sum Assured on Maturity
• 10 times Annualised Premium# for entry age up to 50 years and 7 times Annualised Premium# for entry age greater than 50 years
• #excludes any underwriting extra premiums, modal loadings and any taxes paid
• On death of the life assured during the payout period, the Death Benefit payable shall not be reduced by the survival benefits already paid.
• On payment of the Death Benefit during the policy term, the policy will terminate and no future payouts will be payable.

For a policy where all due premiums have been paid, the maturity benefit will be the aggregate of:

1. Last Guaranteed Base Income payout,
2. Accrued Reversionary Bonuses,
3. Interim Bonus, if any
4. Terminal bonus, if any

The premiums can be paid annually, half-yearly, quarterly and annually

The plan can be applied by filing in the Short Medical Questionnaire (SMQ), which may not require you to go for medicals.

The policyholder can avail Loan under the policy provided the policy has acquired a surrender value and subject to terms and conditions as the Company may specify from time to time.  

The policy will acquire a Guaranteed Surrender Value (GSV) provided 2 full years’ premium has been paid for premium payment term of 8 years and 3 full years’ premium have been paid for premium payment term of 10 and 12 years.

In case of death due to suicide, within 12 months;

• From the date of inception of the policy, the nominee of the policyholder shall be entitled to 80% of the premiums paid, provided the policy is in-force.
• From the date of revival of the policy, the nominee of the policyholder shall be entitled to an amount which is higher of 80% of the premiums paid till the date of death or the surrender value as available on the date of death.

In case of death due to suicide, within 12 months;