Indian Insurance

If the amount of top up premiums paid exceeds 25 percent of the Annual Policy Premiums paid till date it will result in a proportionate increase in the Sum Assured subject to then prevailing underwriting and administrative rules. The amount of additional Sum Assured will amount to 125% of the excess top up premium.

Strategy: Generate better return with low level of risk through investment into fixed interest securities having short-term maturity profile.

Strategy: To invest in fixed income securities with marginal exposure to equity up to 10% at low level of risk. This product is suitable for those who want to preserve their capital and earn steady return on investment through higher exposure to debt securities.

Strategy: Generate better return with moderate level of risk through active management of fixed income portfolio and focus on creating long term equity portfolio which will enhance yield of composite portfolio with low level of risk appetite.

Strategy: To earn capital appreciation by maintaining diversified equity portfolio and seek to earn regular return on fixed income portfolio by active management resulting in wealth creation for policyholders.

Strategy: The strategy is to invest into fixed income securities & maintaining diversified equity portfolio along with active Fund management policyholder’s wealth in long run.

Strategy: The strategy is to invest in high quality equity security to provide long-term capital appreciation with high level of risk. This Investment Fund Option is suitable for those who want to have wealth maximization over long-term period with equity market dynamics.

Strategy: To build and actively manage a well-diversified equity portfolio of value and growth driven stocks by following a research focused investment approach. While appreciating the high risk associated with equities, the fund would attempt to maximize the risk-return pay off for the long-term advantage of the policyholders. The fund will also explore the option of having exposure to quality mid cap stocks. The non-equity portion of the fund will be invested in good rated (P1/A1 & above) money market instruments and fixed deposits. The fund will also maintain a reasonable level of liquidity.

Strategy: To build and actively manage a well-diversified equity portfolio of value & growth driven stocks by following a research driven investment approach. The investments would be predominantly made in mid cap stocks, with an option to invest 30% in large cap stocks as well. While appreciating the high risk associated with equities, the fund would attempt to maximize the risk-return pay-off for the long-term advantage of the policyholders. The fund will also maintain reasonable level of liquidity.

The maximum Partial Withdrawal amount in a Policy Year is any amount subject to the Policy having a balance Fund Value of Rs. 25,000 plus Surrender Charges applicable in the year of Partial Withdrawal and one Annual Policy Premium or top up premiums, if any, made in the last three years whichever is higher.

However, if the Policy is surrendered within three years from inception, then the Surrender Value will be paid to you after the completion of the third Policy anniversary.

Between 5 yrs and 60 yrs: Higher of the Fund Value or The Sum Assured less all applicable Partial Withdrawals made in the last 24 months preceding the death of the Life Insured.

60 yrs and above: Higher of the Fund Value or Sum Assured less all applicable Partial Withdrawals made since the Life Insured attained the age of 58.

Please note that the riders are not available if you are an NRI investor.

For further details, please refer to detailed brochure on riders.

(a) In case the premium is discontinued within first three Policy Years:

If the premium is not received on the premium due date, a grace period of 30 days is given. Even at the end of the grace period if the premium is not received, then the Policy will lapse and all Coverages will terminate immediately.

If the Policy is not revived within two years from the lapse date, the Surrender Value as at lapse date will be paid out at the end of the third Policy Year or at the end of the revival period whichever is later. In case the Policy is surrendered during the Revival Period, then the Surrender Value as at lapse date will be paid out at the end of the third Policy Year or the date of Surrender whichever is later. The Surrender Value will be calculated by deducting the Surrender Charges applicable on the lapse date. The Surrender Value will not be affected by the market fluctuations and will remain constant till the time it is paid out. There will be no deduction of the Policy Charges (as set out in the Policy Charges section) thereafter, from the Surrender Value.

If the life insured dies while the policy is not yet revived, we will pay the Fund Value as of the lapse date immediately and terminate the contract.

(b) In case the premium is discontinued after the first three Policy Years:

If all due premiums have been received for the first three Policy Years and subsequent due premium is not received on the premium due date, a grace period of 30 days is given. At the end of the grace period if the premium is not received, you will be given a period of two years to pay all due and unpaid Policy Premiums. During these two years all Coverages will continue to be in force and all applicable charges will continue to be deducted from the Fund Value till the Surrender Value falls to one Annual Policy Premium. At the end of the two year period we will give you an option to continue the Policy. If you do not opt to continue the Policy, the Policy will be terminated and the Surrender Value will be paid out.

If you decide to continue with the Policy, the Company will not accept further Policy Premium under this Policy. All Coverages will continue to be in force and all applicable charges will continue to be deducted till the Surrender Value falls to one Annual Policy Premium. At this time the Policy will be terminated and the Surrender Value will be paid out

We reserve the right to levy a charge subject to our administrative rules then in force to cover the Underwriting costs arising at the time of Revival. The Revival charge currently is Rs 100. This charge cannot exceed Rs. 1000.

In case of non-receipt of premium after the first three Policy Years, you can continue the Policy by contributing all Policy Premium due but unpaid from the date of Premium Discontinuance, within two years from the end of the grace period after non-receipt of premium.

You will have the right to return your policy to us within 15 days from the date of receipt of the policy. We will pay the Fund Value plus all charges levied till date (excluding the Fund Management Charge) once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents.

For example, suppose you had chosen a Sum Assured of Rs 10,00,000 with a pay period of 3 years. In this case the total Policy Administration Charge in Year 1 is 2.71 * 750 + 1.75 * (1000-750) = 2470 and the amount Rs 2470/12 = 205.83 will be deducted on every monthly processing date by cancellation of units during the first Policy Year.

*In a year two switches are free. Every additional switch will be subject to a charge as per the then current administrative rules of the company. Our current Charge for an additional switch is Rs 100/-. The switching charge shall not exceed Rs. 500/-.

@ You can change the Premium Allocation Percentage (using premium redirection facility) free of Charge twice every year. Every additional change is subject to Charge of Rs. 100/-. The charge will not exceed Rs. 500/-.

# In a year only 4 Partial Withdrawals are permitted. Two Partial Withdrawals in every policy year will be free of Charge and every additional Partial Withdrawal will be subject to a Charge of 0.5% of the amount withdrawn. This amount cannot exceed Rs 500/-.

“ If the Life Insured dies by suicide within one year of the issue of the policy or the reinstatement of the Life Insurance Coverage whichever is later, we will not pay the life insurance cover. In such a case, we will refund the higher of the premiums paid towards the policy since the issue date or the Fund Value on the date of death”.

No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

No Policy of Life Insurance effected before the commencement of this Act shall after the expiry of two years from the date of commencement of this Act and no Policy of Life Insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which it was effected be called in question by an Insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, or friend of the Life Insured, or in any other document leading to the issue of the Policy, was inaccurate or false, unless the Insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the Life Insured and that the Life Insured knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the Insurer from calling for proof of age at any time if he is entitled to do so, and no Policy shall be deemed to be called in question merely because the terms of the Policy are adjusted on subsequent proof that the age of the Life insured was incorrectly stated in the application.