| Save 'n' Protect
Your list of responsibilities extend from being able to
fund your child's higher education, to worrying about your daughter's wedding all this
while being able to maintain your cozy nest. This is an ideal plan for those who want to
accumulate funds on a regular basis while enjoying insurance protection. It is a fixed
term policy that combines savings with life cover.
It is a fixed term plan in which you pay premium regularly during the term. On the death
of the life assured, the beneficiary will get the sum assured, the guaranteed additions
and the vested bonuses.
Once the policy matures, i.e. at the end of the term, you can get the full sum assured and
guaranteed additions as well as the vested bonuses. In addition, you will get an extended
term insurance cover for five years after the maturity date of the policy for 50% of the
sum assured. You will not have to pay any premium for the same.
You can opt for one or more of the following riders:
- Accident and disability benefit
- Critical illness benefit
- Major surgical Assistance
- Level term Insurance
Highlights
- You can apply if you are 15 years old and no older than
60 years. The maximum cover-ceasing age is 70 years.
The minimum sum assured you should apply for is Rs. 20,000 and the minimum
term is 10 years.
- You can avail of a loan under the policy, to meet your requirements. This will
be dependent on the surrender
value your policy acquires. Interest is charged on the amount of loan availed.
- Your policy acquires a paid up value after premiums are paid for three years. A
guaranteed surrender value is
payable to you, if you decide to terminate the policy after 3 years premiums
are paid. However, the insurance
protection provided under this policy will also cease.
- If the Life assured commits suicide whether sane or insane, within one year from
the date of commencement of
the policy, the policy shall be void and the premiums paid hereunder will be
refunded after deducting the
expenses incurred by the Company for the issue of the policy. |