A UNIQUE LIMITED PREMIUM PAYING TERM PLAN
UNIQUE SELLING POINTS :
- Guaranteed Addition is the biggest advantage in the present scenario
- Many people want the limited premium option
- Good for savings plus security
- Good for education & marriage provision
- Loan and Surrender after two years
- PWB is the key rider
- Available with AB, EPDB, Term Rider, and Critical Illness Rider
- Good for package selling
- Settlement option
Launching on 22.02.21
➢ Non linked, Non participating, Limited premium payment, Individual plan
➢ Life insurance Savings plan.
1) Guaranteed Addition Rs.50/- per thousand Sum Assured throughout the policy term
2) Online , Offline, POSP available for sale
3) S.A. : Minimum SA = 1,00,000/- (Max No Limit) (multiple of 25000 )
4) Term. : 15 to 20 Years
5) PPT. : Policy Term LESS 5 years
6) Entry : 90 days to 60 years NBD
7) Maturity : 18 to 75 years
Death :
1) Before Commencement of Risk : ( in case of minor lives when risk is not begun)
Refund of Premiums
1) After DOC of Risk : Sum Assured + Guaranteed Addition
2) SA on Death is : Higher of 125% of BSA or 7 times of annualized Premium or Not 105% of Total Premium paid till date of death
( POSP : 90 Days waiting Period )
- Maturity : Basic Sum Assured + Guaranteed Addition .
- In case of Paid Up Policies : Guaranteed Addition will be paid till last premium paid
- Riders : DAB + EPDB (180 Days) , Term Rider ( max 25 Lacs) ,Critical Illness Rider, Critical Illness Rider : 15 critical illness (maximum 25 lacs over all )
- PWB : Available for minor lives up to age 17 years maximum
- Settlement Option (Maturity => 5,10,15 years as per existing provisions
- Settlement Option minimum instalment must be Rs.5000 Monthly, Rs.15000 Quarterly,Rs.25000 half yearly and Rs.50,000 yearly.
- MODE: YLY ,HLY, QLY, MLY, NACH, SSS
- DAB : 0.50 per thousand for others , Police personal = Rs. 1.00
- Rebate :
- MODE REBATE : YLY- 2% , HLY-1%
- SUM ASSURED REBATE :
- SA : Up to 2.75 Lac = NIL
- SA : 3.00 SA to 4.75 SA = Rs. 4.00 ( rebate on tabular premium )
- SA : 5 Lac To 9.75 = Rs. 5.00
- SA: 10 Lac and above = Rs. 6.00
- Online Rebate on PPT
- 10 to 14 years : 7.5 %
- 15 years = 10
Surrender: after two years
Loan: after two years
