Features
This is the best form of life assurance for family provision since it enables the Life Assured to pay the premium during the ordinarily vigorous and most productive years of life, relieving him from the necessity of making payments later in life when they might become a burden.

With Profits Single Premium policies do not cease to participate in profits after completion of the period for which premium has been paid, but continue to share in the periodical Bonus Distribution until the death of the Life Assured.

Suitable For
This plan is suitable for people of all ages and social groups who wish to protect their families from a financial crisis that may occur due to their Death.

Benefits

Bonuses
This is a with-profit plan and participates in the profits of the Corporation’s life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided a policy has run for certain minimum period.

Death Benefits
Premiums are payable one time only. If the Life Assured survives the stipulated term of the policy, the Policy continues in full force, and full sum assured (with or without bonus) will be paid on death.

Maturity Benefit
This is a whole of life assurance plan and hence does not have a maturity date. You, however, have the option to take the Sum Assured plus all bonuses declared under the policy anytime after 40 years from the date of commencement of the policy provided you have attained, at least, 80 years of age.

Supplementary/Extra Benefits (optional)
An additional premium is required to be paid for these benefits.

Surrender Value
Buying a life insurance contract is a long-term commitment. However, surrender value is available under the plan on earlier termination of the plan.

Guaranteed Surrender Value
The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium. In case of a single premium policy the guaranteed surrender value is 90% of the single premium paid excluding any extra/additional premium.

Survival Benefit
Sum assured plus accrued bonuses and the terminal bonuses, if any, on the policyholder attaining age 80 years or on expiry of term of 40 years from the date of commencement of the policy whichever is later.

Eligibility
• Minimum age at entry : 12 years
• Maximum age at entry : 60 years
• Maximum age at maturity : 40 or 80 years from date of commencement
• Minimum Sum Assured : Rs.30,000
• Maximum Sum Assured : No Limit
• Mode of Payment : Single Premium