This is a limited payment, non-linked, with profits Money Back Plan
Features & Conditions NEW MONEY BACK PLAN – 20 YEARS
Minimum age at entry – 13 years Ibd
Maximum age at entry – 50 years nbd
Max. age at maturity – 70 years nbd
Policy term – 20 years
Premium Paying term – 15 years
Minimum S.A. – Rs. 1,00,000/- & in multiples of Rs. 5,000 thereafter.
Maximum S.A. – No limit
DEATH BENEFIT: 125% of Basic Sum Assured on Death + Vested Bonus + FAB if any.
SURVIVAL BENEFIT: 20% of Basic SA is payable after 5th, 10th and 15th year.
MATURITY BENEFIT: 40% of Basic Sum Assured + Vested Bonus + FAB if any.
Available Riders: ADDB/AB Rider, Term Rider & Critical illness Rider.
Mode of Payment: Yearly,Half Yly, Qly & Mly (SSS & NACH) Rebates:
Mode Rebate: Yearly : 2%, Half Yly: 1 %
High Basic S.A. Rebate:
- Upto 1,95,000 : Nil
- 200000 to 4,95,000 : Rs. 2 % of Basic SA
- 500000/- & above : Rs. 3 % of Basic SA
Grace Period: 15 Days for monthly mode and 30 days for other modes.
Claim Concessions: Available under Base Plan only. Not apply to Riders and Death due to Suicide.
Paid up/Surrender/Policy Loan: After Premiums paid for 2 full years.
Revivals: Within 5 years of FUP.
Back Dating: Allowed with lean Month’s benefits. Proposal Form: 300, 340 or 360
Underwriting Rules: Without Term or CI Rider
Actual Sum Assured (ASA) for SUC: For FMR, Special Reports, MHR & TRSA: 1.25 times of Basic S.A.
Non -Medical Schemes: All Allowed.
Age Proofs: All Allowed.
Female Lives : All Allowed.
Pregnant ladies: Cat A1 only up to 24 weeks of pregnancy.
Minor lives/Maior Students:
- Max TRSA inclusive of all plans Rs. 2crore & Standard Minor lives
- only. TRSA beyond Rs. 2crore/substandard minor lives at CUS
- only with MM’s recommendation. Standard Age Proof is must.
Sub-Standard Maior lives:
- Up to EMR Class Ten only.
- Physically Handicapped lives should be gainfully employed.
Occupation/Residence Extra: 1.50 times of Standard extra.
If Occupation extra is charged CIR/ADDB/AB
Rider will not be allowed.
Keyman/Partnership/Empl-Employee: Allowed only under Employer-Employee
NRIs & FNIOs Residence Group:
- Group 1 & II : Not Allowed.
- Group III & IV : Allowed with extra.
- Group V : Allowed without extra.
- House wives & Juvenile Lives: Group IV & V only.
- NMS : Group V only.
- Mailorder : Only NRIs of Group V.
With Term or Cl Rider: Underwriting Rules of Term or Cl Rider will be applicable.