Features and benefits of Guaranteed Savings Insurance Plan
Features and benefits of Guaranteed Savings Insurance Plan
Limited pay: You have a choice of paying premiums for either 7 or 10 years, while enjoying a long term savings benefit under the plan
Guaranteed benefits: Receive guaranteed benefit at the end of the policy term in form of Guaranteed Maturity Benefit (GMB):
• In the beginning, the GMB would be equal to sum of all premiums payable under the plan
• This GMB would increase every year by guaranteed Regular Additions (RAs), to increase your savings payable at maturity of plan. The Regular Addition expressed as a percentage of the SA, will be declared at the beginning of every policy year.
Additional maturity benefit: Receive additional amount in form of Maturity Addition (MA) at the end of the policy term
Death Benefit: Receive a Guaranteed Death Benefit (GDB) equal to the sum of all premiums paid till date compounded at the rate of 5 percent per annum
Easy to purchase: Easy and hassle free application process with no medicals
Tax benefits: Tax benefits on the premium paid and benefits received under the policy, as per the prevailing Income Tax laws
