This is a limited premium paying term conventional with profits Endowment Assurance plan where premium paying term is less than policy term by three years.
PREMIUM PAYING MODE:
Yearly,Half yearly, Quarterly, Monthly(ECS)
13 to 25 years
PREMIUM PAYING TERM:
MINIMUM ENTRY AGE:
18 years completed
MAXIMUM ENTRY AGE:
50 Years(Nearest Birthday)
Maximum maturity age:
65 year (Nearest birthday)
MINIMUM SUM ASSURED:
MAXIMUM SUM ASSURED
No Limit (depending upon income)
MAXIMUM ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER UP TO AGE 65.
Benefits payable on death:
Sum assured on death + bonuses and final additional bonus, if any, shall be payable in following manner:
a)Annual Income Benefit equal to 10% of the basic sum assured (till policy anniversary prior to date of maturity).
b)Assured Absolute Amount of 110% of Basic Sum assured, payable (on due date of maturity).
c)Along with bonuses and final additional bonus, if any, on maturity.(on due date of maturity).
On survival Basic Sum Assured + Vested Bonus +FAB if any.
The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.
Available after payment of premium of 3 full years.
INCOME TAX BENEFIT
*Premium paid under this plan is eligible for TAX rebate under section 80c.
*Maturity under this plan is free under sec 10(10D).