Maturity Benefit: At the end of the policy term i.e. on attainment of 85 years of age, you will be entitled to receive accrued bonus along with terminal bonus, if any and the policy will terminate.
In case of your unfortunate demise during the premium payment term, the nominee will receive Higher of the sum assured along with the accrued simple reversionary bonus or the total premiums paid.
Your policy will participate in the profits emerging in the participating fund managed by the Company. The Company will declare simple reversionary bonus as percentage of sum assured every year provided the policy is in force for full sum assured.
You will be entitled to receive 7.5% of the sum assured every year till the Life Assured attains the age of 85. This benefit will be paid on every policy anniversary starting one year after the end of premium payment term.
Paid Up Policy:
Incase you fail to pay your premiums after the first 3 policy years, the policy still continues with the paid-up sum assured.
You can surrender the policy any time after payment of at least three full years’ premiums. Surrender value will be payable after completion of three policy years. The company guarantees a minimum surrender value which is equal to the paid up sum assured multiplied by guaranteed surrender value factors.
Entry Age = Minimum – 20 years last birthday* / Maximum – 55 years last birthday for premium / payment term of 10 & 15 years/ Maximum – 50 years last birthday / for premium payment term of 20 years
Maximum Maturity Age = 85 years last birthday
Minimum Sum Assured = Rs.100,000
Policy Term = The policy term is fixed at 85 years less age at entry of the life assured subject to minimum policy term of 30 years.
Premium Payment Term = 10 / 15 / 20 years
Premium Payment Term = Yearly, Half Yearly & Monthly
Insurance is the subject matter of the soliciation.
IRDA Registration No.288 Registered offfice : Karvy Insurance Broking Private Limited
Karvy iTrust is India's leading independent wealth management business