Plan Details
Premium payment mode: Annually
Premium payment term: 7 Years
Annualized Premium: ` 3,00,000
Age at entry: 35
Policy term: 15
Sum Assured Multiple: 10X
Sum Assured: ` 30,00,000
Income Benefit: 10%
If all is well
Age at maturity: 50 years
Completed policy year: 15 years
Maturity value @8% ARR^: ` 43,88,329
Maturity value @4% ARR^: ` 26,56,555
If all is not well
Age at eventuality: 37 years
Lumpsum Death benefit: ` 30,00,000
Premiums Waived off: 5
Total Premium amount waived off: ` 15,00,000
Yearly Family Income till 15th Policy year: ` 3,00,000 per annum
Total Family Income: ` 39,00,000
^ARR : assumed rate of return. For illustration purposes, the Company has assumed 8% and 4% as rates of investment returns. The returns shown in the illustration are not guaranteed and they are not the upper or lower limits that you may get. As the value of the policy depends on a number of factors including future investment performance.
The above illustration is for a healthy male life with 100% of his investments in Maximiser V and fixed portfolio strategy. The above are illustrative maturity values, net of all charges, Goods and Services taxes and/ or cesses. Since your policy offers variable returns, the given illustration shows different rates of assumed future investment returns. The returns shown in the benefit illustration are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy depends on a number of factors including future investment performance.
When benefit illustrations are included in the content of advertisements- Some benefits are guaranteed, and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits, then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable benefits, then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed, and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
The above illustration is for a healthy male life with 100% of his investments in Maximiser V and fixed portfolio strategy. The above are illustrative maturity values, net of all charges, Goods and Services taxes and/ or cesses. Since your policy offers variable returns, the given illustration shows different rates of assumed future investment returns. The returns shown in the benefit illustration are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy depends on a number of factors including future investment performance.
When benefit illustrations are included in the content of advertisements- Some benefits are guaranteed, and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits, then these will be clearly marked "guaranteed" in the illustration table on this page. If your policy offers variable benefits, then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed, and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including actual future investment performance.
Maturity Benefit
On Date of Maturity, the Fund Value will be payable as the Maturity Benefit to the Policyholder, provided the Policy has not already been terminated. Maturity benefit will be payable irrespective of the survival of the Life Assured on the Date of Maturity.
Death Benefit
On the death of the Life Assured during the Policy Term provided that all due Premiums have been paid and the monies are not in the Discontinued Policy Fund, Death Benefit will be payable to the Claimant.
Death Benefit will comprise the following two parts:
a. Lump Sum Benefit, and
b. Smart Benefit
a. Lump Sum Benefit is defined as the higher of:
- Sum Assured, including Top-Up Sum Assured, if any
- Minimum Death Benefit
b. Smart Benefit comprises of the following two benefits:
- Future Secure benefit8: On death of the Life Assured during the Premium Payment Term and subsequent intimation of the same to the company, provided all due premiums have been paid until the date of death of the Life Assured, the Company shall waive all future premiums as and when payable under the Policy (after the date of death) and the Policy shall continue till the Date of Maturity.
- Family Income benefit8: This benefit is applicable under your Policy only if opted by You at Policy inception and mentioned in the Policy Schedule. This benefit once chosen cannot be opted out of during the Policy Term. If opted, an amount equal to a percentage of the Sum Assured (excluding Top-up Sum Assured) will be paid out to the Claimant as regular income on each subsequent Policy Anniversary following the date of death of the Life Assured till the Date of Maturity. The last income shall be paid on the Date of Maturity along with the Maturity Benefit.
