This is a limited premium paying term conventional With-Profits Endowment Assurance plan where premium paying term is less than policy term by three years.
Income Tax Benefit
Premium paid under this plan is eligible for TAX rebate under section 80c.
Maturity under this plan is free under sec 10(10D).
On survival Basic Sum Assured + Vested Bonus + FAB if any.
Sum Assured on Death + Bonuses & Final Additional Bonus, if any, payable in following manner:
Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity)
Assured Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity). Along with Bonuses & Final Additional Bonus, if any, on maturity. (on due date of maturity)
Policy Term 13 to 25 years
Minimum Basic Sum Assured Rs. 1,00,000/-
Maximum Basic Sum Assured No Limit
Minimum Policy Term 13 years
Maximum Policy Term 25 years
Premium Paying Term = ('Policy Term' minus '3') Years
Minimum Entry Age 18 years (completed)
Maximum Entry Age 50 years (nearer birthday)
Maximum Age at Maturity for Life Assured 65 years
Mode of Premium Payment Yearly, half-yearly, quarterly & monthly
Accidental Death & Disability Benefit Rider available on payment of additional premium