Features:
This plan is mainly devised to create an estate for the heirs of the policyholder as the plan basically provides for payment of sum assured plus bonuses on the death of the policy holder, The payment of sum assured plus bonuses are provided in the form of maturity claim on completion of age 80 years or on expiry of term of 40 years from date of commencement of the policy whichever is later.

The premiums under the policy are payable up to age 80 years of the policyholder or for a term of 35 years whichever is later.

If the payment of premium ceases after 3 years, a paid-up policy for such reduced sum assured will be automatically secured provided the reduced sum assured exclusive of any attached bonus is not less than Rs.250/-. Such reduced paid-up policy is not entitled to participate in the bonus declared thereafter but the bonuses already declared on the policy will remain attach, provided the policy is converted in to a paid-up policy after the premiums are paid for 5 years.

Suitable For
This policy is suitable for people of all ages who wish to protect their families from financial crises that may occur owing to the policyholder’s premature 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 Benefit
The Sum Assured plus all bonuses to date is payable in a lump sum upon the death of the life assured.

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
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.

Death Benefit
Sum assured plus accrued bonuses and the terminal bonuses, if any, on the death of the policyholder are paid to his/her nominees/heirs.

Eligibility
Min Age at entry:15 years last birthday
Maximum Age at entry- 60 years
Min Sum Assured: Rs.50,000/-
Maximum Sum Assured- No limit
Mode of payment: Yearly, half-yearly, quarterly, monthly and SSS
Policy Loan: Yes