Description: New Fulfilling Life plan is an investment plan with double benefit of periodic cash returns during policy term and maturity or death benefit. The Fulfilling Life Plan provides your family security even after your death, apart from giving you regular cash returns during your life. The special feature of this plan is you may receive 100% of Sum Assured as money back spread over the premium payment term, 100% on death or maturity. You can also choose from a range of limited premium payment terms.
Benefits:
1) Expected Interest Rates : For the purpose of projecting benefits under this Policy, the Life Insurance Council has prescribed two Rates of Returns. Currently the prescribed higher rate is 10% p.a. and the lower rate is 6% p.a.
2) Expected Bonus Rates : The Bonus Rates are illustrated assuming that the Rate of Return on the Company’s investment remains the same throughout the Policy Term.
3) Guarantees : Provided the Policy is in full force, the Sum Assured is guaranteed and is payable on maturity at age 85 or on earlier death. Also, provided the policy is in full force, 20% of the Sum Assured is guaranteed on Survival on the Policy Anniversaries and 40% of the Sum Assured is guaranteed on survival at the end of the Premium paying term.
4) Cash Surrender Value : This Policy may be surrendered for cash at any time after payment of at least, three full years’ Premiums. During the Premium paying term of the policy, the Guaranteed Surrender Value will be 20% of the total of the full years premiums paid, excluding all extra Premiums less 20% of all Survival Benefits paid. Cash Surrender Value if higher than Guaranteed Surrender Value may be paid by the Company at rates as may be determined from time to time.
Product Features:
Eligibility
. Minimum entry age : 14 years.
. Maximum entry age : 54 years.
. Maximum maturity age : Fixed at 85 years.
Premium Paying Term
. Choose premium paying terms of 16, 20 and 24 years.
Premium Payment Options
. Annual, half-yearly, quarterly or monthly.
Minimum Premium Payable
. Annual : Rs.8,000.
. Half- yearly : Rs.4,000.
. Quarterly : Rs.2,000.
. Monthly : Rs.750.
