Death Benefit:
The Sum Assured plus all vested guaranteed additions and bonuses is payable in a lump sum upon the death of the life assured during the policy term irrespective of the Survival Benefit paid earlier.

Survival / Maturity Benefit:
The percentage of Sum Assured as mentioned below will be paid on survival to the end of specified durations:

Vested Guaranteed Additions and all bonuses declared upto the maturity date will also be paid alongwith the final survival benefit.

Female Critical Illness Benefit:
An amount equal to the Basic Sum Assured (with a limit of Rs.2 Lakhs) is paid on diagnosis of any of the specified critical illnesses.

Congenital Disability Benefit:
An amount equal to 50% of the Sum Assured (subject to a maximum of Rs.1 Lakh) will be paid on the birth, during the policy term, of a child with any of the specified congenital disabilities. This benefit will be available for two children. The cover will be provided where age at entry of life assured is 35 years or below, and will be available till the life assured attains 40 years of age.

Supplementary/Extra Benefits:
These are the optional benefits that can be added to your basic plan for extra protection/option.  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 values are available under the plan on earlier termination of the contract.

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, any extra premiums and premiums towards Accident Benefit, Female Critical Illness Benefit and Congenital Disability Benefit.

Company’s policy on surrenders:
In practice, the company will pay a Special Surrender Value – which is equal to or more than the Guaranteed Surrender Value. The benefit payable on surrender reflects the discounted value of the reduced claim amount that would be payable on death or at maturity. This value will depend on the duration for which premiums have been paid and the policy duration at the date of surrender. In some circumstances, in case of early termination of the policy, the surrender value payable may be less than the total premium paid.

The Corporation’s surrender value will be reviewed from time to time and may change depending on the economic environment, our experience and other factors.

Note: The above is the product summary giving the key features of the plan.  This is for illustrative purpose only.  This does not represent a contract and for details please refer to your policy document.