View
0
Download
0
Category
Preview:
Citation preview
Invest 4G
A Individual Linked Life Insurance cum Savings Plan
UIN: 136L064V03
“This document is strictly for internal training purposes only and is not to be used for soliciting business”
"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“
Key Benefits
Three Cover Options to suite different life stages
100% premium allocation (Entire premium invested)
Return of Mortality Charge
Freedom to customize the plan
Loyalty addition & Wealth booster
Option to choose from 8 funds in line with Investment Objective and Risk Appetite
Key Benefits
Multiple Portfolio Management Options to manage investment as per risk preference
Systematic Withdrawal Option To create regular income stream during Policy Term
Milestone Withdrawal Option for enhanced liquidity at regular milestones
Liquidity by way of partial withdrawals to meet unplanned contingencies
Tax Benefit under Section 80C and Section 10(10D), as per prevailing Income Tax Act, 1961
Invest4G – The Journey
Choose Cover Option and Premium Amount
• Life Option
• Care Option
• Century Option
Choose Premium Payment Term, Policy Term (and SA Multiple - in
case of Single Pay)
• Life & Care Option Limited Pay/Regular Pay – 10 to 30 Years
• Century Option Limited Pay/Regular Pay – 100- Entry Age
• Single Pay – 5 to 30 Years
Choose Funds and Portfolio Management Option
• 8 Unit Linked Funds with different risk appetites
• 4 Portfolio Management Option
Invest 4G – Plan Options
Life Option
Option 1
Option 2
Option 3
Invest 4G
Century Option Care Option
Options to match Needs
Options to match Needs
Life Option
A Standard ULIP
• A simple option that provides the accumulated prevailing
fund value at maturity , along with life cover
Care Option
Securing child’s future
• This option ensures that savings contributions are made even in
absence of Life Assured by means of ‘Premium Funding
Benefit’, thus ensuring a secure future for their dependents
Century Option
A whole life variant
• Option that provides life cover till 100 Years of age and
ensures creation of legacy for loved ones
The Cover Option can be chosen at inception only and cannot be changed later
3 2 1
Funds & Fund Management Options
R I SK
RETURN
Emerging Leaders Equity Fund-
Nifty Midcap 50 index
India Multi-Cap Equity Fund- CNX Nifty 100
Equity II Fund- Nifty 50
Growth Plus Fund- 80% Nifty 50 + 20% CRISIL Composite Bond Fund Index
Balanced Plus Fund- 50% Nifty 50 + 50% CRISIL Composite Bond Index
Debt Fund- CRISIL Composite Bond Index
Liquid Fund- CRISIL Liquid Fund Index
Investment primarily into large cap portfolio
Aggressive strategy with investment in mid, small and large caps
Investment predominantly into bonds, govt. secs etc
Balanced approach – mix of equity & debt funds
8 different funds to cater to different needs & risk appetite
Complete suite of 8 funds
Large Cap Advantage Fund
Nifty index
Fund Names
Large Cap
Advantage
Fund
Emerging
Leaders
Equity Fund
India Multi-
Cap Equity
Fund
Equity II
Fund
Growth
Plus Fund
Balanced
Plus Fund Debt Fund Liquid Fund
Min Max Min Max Min Max Min Max Min Max
Min Max Min Max Min Max
Compon
ents
Equity 90% 100% 60% 100% 60% 100% 60% 100% 50% 90%
30% 70% - - - -
Debt
Securities - - - - - - - -
10% 50%
30% 70% 60% 100% 0% 60%
Money
Market 0% 10% 0% 40% 0% 40% 0% 40%
0% 40% 0% 40% 0% 40% 40% 100%
Risk Profile High High High High Medium to
High Medium
Low to
Medium Low
8 Investment Funds Self Managed option to customize investment
• Customer can choose/design his fund allocation as per his choice and risk preference
• Choice of 8 investment funds with 0% to 100% equity exposure
• Flexibility to switch percentage of policy holder’s existing fund between other funds and adjust the investment portfolio through switching option
• This option works on the rupee cost averaging method where every month policyholder’s money is systematically moved from low risk fund (liquid fund) to high risk fund (Equity II Fund / India Multi -cap Equity Fund/ Emerging Leaders Equity Fund or Large Cap Advantage Fund) on monthly basis
Systematic Transfer Option
• The fund value systematically moves into relatively low risk Liquid Fund at the beginning of each of the last 4 years of the Policy .
Safety switch option
• Policyholder can maintain allocation of their investments in a specific proportion across funds, irrespective of market movements.
Auto Fund Rebalancing
• This option enables policyholder to take advantage of the equity market by protecting their gains from the future market volatility.
• Through this option basis target appreciation percentage chosen equity gains made during the investment period is automatically transferred to a lower risk debt fund starting from the 2nd year onwards to ensure that the gains of the fund are protected
Return Protector Option
1
3
2
4
Only one ‘Option’ will be operational at any given time.
Portfolio Management Options Ready made solutions to take best advantage of market movements
• Reduces the risks associated with lump sum investing
• No need to time the market or worry about buying low selling high
• Systematic way to enter the equity market
• Beneficial in volatile market– helps in reducing the average cost per unit
• Effective way to accumulate wealth over time
Systematic Transfer Option Benefit of Rupee Cost Averaging
Equity II Fund or India Multicap Equity, Emerging Leaders Equity Fund or Large Cap
Advantage Fund
Liquid Fund
2400 units
1st Jun 18 1st Jul 18
200 Units
Units may vary at the time STO due to NAV movement
1st Aug 18
RPO and STO can not be opted together
…So on
2200 units
200 Units
2000 units
200 Units
200 Units
1/12th units
1/11th units
1/10th units
1st May 19
BI can be generated with STO as an option
Systematic Transfer Option How does it work?
1st Jun 18 1st Jul 18 1st Aug 18 …So on 1st May 19
The funds are systematically moved to a relatively low risk Liquid Fund in the last four policy years to avoid market movements and safeguard your funds near policy maturity
Maturity
Last 4 yrs
Safety Switch Option (SSO) Protection from volatality towards the end of the policy term
Note: SSO – NOT applicable for Whole of Life option
3
4
Large Cap Advantage Fund, Emerging Leaders, Multi-Cap Equity, Equity II, Growth+ , Balanced +, Debt Fund
Liquid
* T = Policy Term
T-3
T-2
T-1
T
At the start of Policy Year
70% 30%
40% 60%
10% 90%
0% 100%
Note: SSO – Not applicable for Whole of Life option
Safety Switch Option (SSO) Protection from volatality towards the end of the policy term
Auto Fund Rebalancing Take advantage of market movements
Total fund gets rebalanced after every 3 months as per the allocation % in funds, chosen at inception or later
For Example, if this option is chosen
At inception, the rebalancing trigger will take effect on the date at the interval of 3 months w.e.f. policy commencement date.
If the policy commenced on 25th day of the month, then the first and subsequent trigger will happen on 25th day of every third month.
If chosen at a Later date, the rebalancing trigger will take effect on the date after every 3 months after the request has been received .
If policy commenced on 1st Jan’18 and Auto Fund Rebalancing request is received on 15th Jan’18, then first rebalancing will happen on 15th Apr’18 and at subsequent 3 Months intervals.
50% 50%
50% 50% 50% 50%
75% 25% 25%
75%
10 Dec 10 Jun’18
Equity II Fund
Balanced + Fund
Above details are based on assumptions only, customer can select this Option at inception or any time later with minimum of 2 funds.
10 Sept’18 10 Dec’18
Auto Fund Rebalancing
Automatic transfer of Gains from equity fund to Debt Fund
Either Large Cap Advantage Fund or Emerging Leaders Equity Fund or India Multi Cap Equity Fund or Equity II Fund can be chosen as "RPO Fund“ can be chosen as “RPO Fund”
Select Target Appreciation %age between 5% - 15% (multiple of one)
Target appreciation %age is calculated on Fixed Flat basis, not annualized
Target appreciation %age will be tracked on every Business Day against the Net Invested Amount in RPO
Return Protector Option Helps protect gains from market volatility
To be opted at the time of purchase only, however, it will become effective from First Policy Anniversary.
Available with all premium payment options – Limited/Regular
RPO cannot be exercised simultaneously with either STO or AFR except SSO
If SSO is opted, during the last 4 policy years, RPO will stop and SSO will become operational.
If Policyholder has opted for SWO / MWO, RPO will cease when SWO / MWO becomes operational.
Return Protector Option Helps protect gains from market volatility
The request for Premium redirection, switching and partial withdrawals will result in cessation of RPO.
Large Cap Advantage Fund or Equity II Fund or India Multicap Equity or Emerging Leaders
Equity Fund
Debt Fund
5 Lac
1st Jun18 1st Jun 19
5 Lac
Starts from 2nd policy year
Any Day
Target appreciation chosen in Example is 10%
Policyholder can choose a target return from 5% to 15%
1 Lakh 1 Lakh 1 Lakh
Return Protector Option How does it work?
Switching Change investment pattern during Policy Term / Settlement Period
• Switching is not allowed while RPO or AFR is operational. • Any request for switching will be considered as a request to opt out of RPO or AFR and post such request RPO or
AFR will cease to exist. • Switching is allowed among the Unit Linked Funds other than the STO Funds. Any request for switching into or
out of STO funds while STO is operational will be considered as a request to opt out of STO and will cause the STO to cease.
• Switching is not allowed post the death of Life Assured in case Cover Option 2 (Care Option) is chosen
Available at any point of time
Done in percentage or absolute amount
Min. amount : Rs. 5,000 with no condition of
multiple
All switches are FREE under this plan
Premium Redirection
Available free of charge and limited to once in a policy year
Effected from the next premium due date
Effects only the future allocation of premiums but doesn’t impact
the past allocation and investment portfolio
• Premium redirection is not allowed while RPO or STO or AFR or SSO is operational.
• Any request for Premium redirection will be considered as a request to opt out of RPO or STO or AFR or SSO
and post such request RPO or STO or AFR or SSO will cease to exist
• If the Safety Switch Option is opted but not operational, Premium redirection can be exercised without
impacting the Safety Switch Option.
• This option is not allowed post the death of Life Assured in case Care Option is chosen.
Addition in Fund
Loyalty Addition
Wealth Booster
Return of Mortality Charges
Loyalty Additions Boost up value of investment
• 0.50% of average Fund Value of last 60 monthly policy anniversaries • To be added to the policy at the end every fifth year (5th, 10th, 15th ….) provided all
the due premiums received till that time
Loyalty Additions
• Loyalty Addition Percentage varies by the Unit Linked Fund as detailed in the table below.
Unit Linked Fund Loyalty Addition
Percentage
Emerging Leaders Equity Fund, India Multi Cap Equity Fund, Equity II Fund, Growth Plus Fund & Balanced Plus Fund
0.50%
Large Cap Advantage Fund, Debt Fund & Liquid Fund 0.25%
25
Wealth Booster – Life & Care Option Boost up value of investment
• Provided all the due premiums received till the time of additions
Emerging Leaders Equity Fund, India Multi Cap Equity Fund, Equity II Fund, Growth Plus Fund & Balanced Plus Fund
Year
Single Premium/Annualized Premium
Less than 50000 50,000 to less than
1,00,000 1,00,000 to less than
5,00,000 5,00,000 to less than
10,00,000 Greater than or equal to
10,00,000
10 1.00% 1.50% 2.00% 2.00% 2.00% 15 1.00% 2.00% 3.00% 3.50% 4.00%
20 1.50% 2.00% 3.00% 4.25% 5.50% 25 2.00% 2.50% 3.50% 4.50% 5.50% 30 2.50% 3.00% 4.00% 4.75% 5.50%
Large Cap Advantage Fund, Debt Fund & Liquid Fund
Year
Single Premium/Annualized Premium
Less than 50,000 50,000 to less than
1,00,000 1,00,000 to less than
5,00,000 5,00,000 to less than
10,00,000 Greater than or equal to
10,00,000
10 - - - - - 15 - - 1.00% 1.50% 2.00% 20 - - 1.00% 2.25% 3.50% 25 - 0.50% 1.50% 2.50% 3.50%
30 0.50% 1.00% 2.00% 2.75% 3.50%
For Limited Premium policies with PPT less than 10 years (including Single Pay)
26
Wealth Booster – Life & Care Option Boost up value of investment
• Provided all the due premiums received till the time of additions
Emerging Leaders Equity Fund, India Multi Cap Equity Fund, Equity II Fund, Growth Plus Fund & Balanced Plus Fund
Year
Single Premium/Annualized Premium
Less than 50,000 50,000 to less than
1,00,000 1,00,000 to less than
5,00,000 5,00,000 to less than
10,00,000 Greater than or equal to
10,00,000
10 1.50% 2.00% 2.00% 2.00% 2.00% 15 1.50% 2.75% 3.50% 3.75% 4.00%
20 2.00% 2.75% 3.50% 4.50% 5.50% 25 2.50% 3.00% 4.00% 4.75% 5.50% 30 3.00% 3.50% 4.50% 5.00% 5.50%
Large Cap Advantage Fund, Debt Fund & Liquid Fund
Year
Single Premium/Annualized Premium
Less than 50,000 50,000 to less than
1,00,000 1,00,000 to less than
5,00,000 5,00,000 to less than
10,00,000 Greater than or equal to
10,00,000
10 - - - - - 15 - 0.75% 1.50% 1.75% 2.00% 20 - 0.75% 1.50% 2.50% 3.50% 25 0.50% 1.00% 2.00% 2.75% 3.50%
30 1.00% 1.50% 2.50% 3.00% 3.50%
For Regular / Limited Premium policies with PPT greater than or equal to 10 years
27
Wealth Booster - Century Option Boost up value of investment
Regular Premium policies under Cover Option 3 (Century Option)
Wealth Boosters for each Unit Linked Fund will continue to be paid in gap of every 5 years, post
completion of first 30 Policy Years, provided all premiums are received till that time.
1 2 3 4 5 6 so on 10 11 12 So On. 15 16 So On. 20
Loyalty Addition
Policy Term: 20 years Premium Payment Term : 20 years
Loyalty Additions & Wealth Booster Illustration
Wealth Booster
3.5% 3.5% 2%
0.50% 0.50% 0.50% 0.50%
Loyalty Addition & Wealth Booster benefit will be given % of Average Fund Value
Fund Chosen: Emerging Leaders Equity or India Multi Cap Equity or Equity II or Growth Plus or Balanced Plus Fund
Premium ₹ 200,000/=
1 2 3 4 5 6 so on 10 11 12 So On. 15 16 So On. 20
Loyalty Addition
Policy Term: 20 years Premium Payment Term : 20 years
Loyalty Additions & Wealth Booster Illustration
Wealth Booster
1.5% 1.5%
0.25%
Loyalty Addition & Wealth Booster benefit will be given % of Average Fund Value
Fund Chosen: Large Cap Advantage Fund or Debt Fund or Liquid Fund
Premium ₹ 200,000/=
0.25% 0.25% 0.25%
Return of Mortality charges Financial security through life cover at no cost
Return of Mortality Charge is not applicable in case of Single Premium Policies & Surrendered, Discontinued or Reduced Paid-up policies
Return of
100% Mortality Charges at Maturity
The Mortality Charges (excluding any additional charges & Taxes) deducted during the Policy Term will be added to the Fund Value at the maturity date
• The amount payable under the Return of Mortality Charge feature shall exclude any additional charges in respect of mortality that are deducted due to the Life Assured being sub-standard life on grounds of health or is a higher risk for factors other than health such as occupation, etc. • Return of Mortality Charge in case of Care Option does not include the return of Premium Funding Benefit Charges deducted.
Flexibility Milestone Withdrawal Option (MWO)
Systematic Withdrawal Option (SWO)
Settlement Option
Partial Withdrawals
Reduction in Premium
Milestone Withdrawal Option (MWO) systematic partial withdrawal facility
Policyholder can select this option at the Policy inception or anytime later in the Policy Term
20% of the available fund value 10th Policy Year (EOY)
Thereafter every 5th year excluding Policy Maturity
Policyholder can opt out of this option at anytime even after the withdrawals have started
MWO feature can be stopped or re-activated anytime during the Policy Term.
Re-activation or stopping of this feature will take place only from the milestone Policy Anniversary
following the receipt of the request
MWO is subject to Life Assured attaining 18 years of age as on the date of the payout
Milestone Withdrawal Option (MWO) systematic partial withdrawal facility - Conditions
• In case of Regular/ Limited Premium policies Fund Value after any withdrawal
should not fall below 120% of the Annualized Premium
• In case of Single Premium policies Fund Value after any withdrawal should not fall
below 25% of the Single Premium
• Min SWO payout should be Rs 1000.
• Any failure of these conditions will result in stopping of SWO
• The Policyholder can select this option at the Policy inception or anytime later in
the Policy Term.
• If death happens after selecting this option under Cover Option 2, this option will
be exercised at the stipulated time.
Systematic Withdrawal Option (SWO) Systematic partial withdrawal facility
Under this option, a pre-decided percentage (1% - 12%) of the fund value will be withdrawn
Policyholder can choose frequency (yearly, half yearly, quarterly or monthly) of SWO Payouts
SWO Payout will start from 11th Policy Year onwards or the Policy Anniversary immediately following the SWO request, whichever is later.
SWO payout will be payable till the end of the Policy Term or till the time of termination of option
The Policyholder can choose for SWO at inception or anytime during the Policy Term provided the outstanding Policy Term is at least 5 years.
Premium Payment Term has to be greater than or equal to 10 years
Systematic Withdrawal Option (SWO) Systematic partial withdrawal facility - Conditions
Either Milestone Withdrawal Option’ or ‘Systematic Withdrawal Option’ can be exercised in
a Policy
In case of half yearly, quarterly or monthly mode, annual percentage will be split equally
across a Policy Year
Fund Value after any withdrawal should not fall below 120% of the Annualized Premium and
Min SWO payout should be Rs 1000. Any failure of these conditions will result in stopping of
SWO
SWO feature can be stopped or re-activated anytime during the Policy Term
SWO percentage can be changed anytime during the Policy Term, even after SWO has
become operational.
Any change will take place only from the Policy Anniversary following the receipt of request
Settlement Option
Policyholder can opt for the settlement option under the policy anytime after issuance but at least 3 months before the maturity date.
Policy will continue for a period not exceeding 5 years from maturity date.
Frequency of withdrawal can be monthly, quarterly, half-yearly, yearly.
Death Benefit during the Settlement Period will be higher of Fund Value or 105% of all Premiums Paid
Partial withdrawals, SWO, MWO, RPO, SSO and AFR are not allowed during the Settlement Period
Switching is allowed during the Settlement Period subject to the conditions
Only Fund Management Charges and Mortality Charges will continue to be deducted
The Settlement Option is available in Cover Options 1 and 2 only
At any time during the settlement period, policyholder can request for full withdrawal to close account
Partial Withdrawal Benefits Liquidity for financial requirements
Allowed from 6th Policy Year (Provided all due Premiums for first 5 policy years have been
paid or Life Assured attaining 18 years of age, whichever is later)
All Partial withdrawals are free in a policy year
Minimum Partial withdrawal amount is `5,000/- (all partial withdrawals to be in multiple of `1,000)
Maximum Partial withdrawal Limited & Regular Pay: Fund value, not being lesser
than 120% Annualized premium Single Premium Policies: Fund value, not being lesser
than 25% Single premium
Reduction In Premium
Policyholder will have an option to decrease the premium payable under the Policy
After paying the premiums for first five Years
Premium can be reduced up to 50% of the Annualized Premium (subject to the min.
premium limits)
Conditions:
I. Once reduced, the premium cannot be subsequently increased
II. SA under the policy will reduce to the extent of reduction in premium
III. This option cannot be exercised when the Policy is in Reduced Paid-up state
IV. Exercising this option does not attract any charge
Product Benefits
Maturity Benefit
Fund Value as on the Date of
Maturity
Or
Settlement Option “Policy will continue for a period not
exceeding 5 years” Maturity
In Century Option, Maturity date will be the Policy Anniversary on which customer’s age is 100 years (last birthday)
Settlement Option is available under Life Option and Care Option Only
1 2 3 4 5 6 7 8 9 10 So.. On.. 19 20
Premium Paid by the Life Assured
In Settlement Option, policy will continue for a period not exceeding 5 years
or
Maturity Benefit Illustrative Example
Fund Value
Option : Life Option Policy Term : 20 yrs Premium Payment Term : 5 yrs
Death Benefit - Life Option / Century Option
In-Force Policy Higher of: Sum Assured less withdrawals, if any, in the preceding two years, or Fund Value as on date of intimation of death claim, or 105% of all Premiums paid up to the date of death.
Reduced Paid-up Policy Higher of: Paid-up Sum Assured less withdrawals, if any, in the preceding two years, or Fund Value as on date of intimation of death claim, or 105% of all Premiums paid up to the date of death.
The Policy shall terminate after the payment of any of the above benefits
1 2 3 4 5 6 7 8 9 10 11..so on 15..so
on 20
Death Benefit Illustrative Example
Option : Life Option / Century Option Policy Term : 20 yrs Premium Payment Term : 10 yrs
Premium Paid by the Life Assured Policy will Terminate
Higher of following will be payable as a lump sum : Sum Assured less withdrawals, if any, in the preceding two years,
Or Fund Value as on date of intimation of death claim, Or 105% of total premiums paid till death
Death Benefit – Care Option
In-Force Policy
Higher of the following will be payable as a lump sum: I. Sum Assured, or II. 105% of all Premiums paid up to the date of death
+ All future premiums will be funded by the company + Fund Value will be paid on maturity
Reduced Paid-up Policy Higher of the following will be payable:
I. Paid-up Sum Assured II. 105% of all Premiums paid up to the date of death
The Policy shall terminate after the payment of any of the above benefits.
1 2 3 4 5 6 7 8 9 10 11..so on 15..so
on 20
Death Benefit Illustrative Example
Option : Care Option Policy Term : 20 yrs Premium Payment Term : 10 yrs
Premium Paid by the Life Assured Premium Funded by Company
Premium Payment Term
Sum Assured will be payable as a lump
sum
All future premiums will be funded
by the company
Fund Value will be paid
on maturity
Boundary Conditions
Age at Entry
Boundary Conditions – Age Life Option
0 Years 65 Years
18 Years 80 Years Age at Maturity
Age at Entry
Boundary Conditions – Age Care Option
18 Years 50 Years
28 Years 80 Years Age at Maturity
Age at Entry
Boundary Conditions – Age Century Option
18 Years 65 Years
Age at Maturity
Up till Age 100 Years
Option Premium Payment
Option
Premium Payment Term
(PPT) (in years)
Policy Terms (PT)
(in years)
Life Option Limited Pay 5 to PT-1 Years 10 to 30 years (inclusive)
Regular Pay Same as PT 10 to 30 years (inclusive)
Care Option Limited Pay 10 to PT-1 Years 10 to 30 years (inclusive)
Regular Pay Same as PT 10 to 30 years (inclusive)
Century Option Limited Pay 10 to PT-1 Years 100-Age at entry
Regular Pay Same as PT 100-Age at entry
Boundary Conditions – PT & PPT Flexibility to choose Policy Term and Premium Payment Term
SA Cover Multiple
Age at entry
(in years)
Policy Term
(in Years)
10 0 - 32 5 -30
10 33 - 38 5 – 20
10 39 - 44 5 – 10
10 45 - 49 5
10 50 - 65 N/A
1.25 0 - 65 5 -30
Boundary Conditions – Policy Term Single Premium Policies
52
Boundary Conditions – Annual Premium Amount Choose premium payment frequency & Amount as per convenience
Regular/ Limited Premium
Min. : Rs. 24,000/- Max. : No Limit
Single Premium (Available under Life Options Only )
Min. : Rs. 100,000/- Max. : No Limit
Life Option
Care Option & Century Option
Regular/ Limited Premium
Min. : Rs. 48,000/- Max. : No Limit
53
Yearly Half-yearly Quarterly Monthly
Boundary Conditions – Premium Payment Mode Choose premium payment frequency as per convenience
Change in Premium Payment Mode can be done anytime during the Policy Term by submitting a written request
at least 60 days prior to the next Policy Anniversary.
Change in Premium payment mode will be effective only on the next Policy Anniversary following such request
Policies with monthly mode must be taken with Credit card/NACH/SI & first 3 month’s premium is to be paid in
advance
For Online policies only one month’s premium is payable at inception
54
• 10 X Annualized Premium
Limited Pay / Regular Pay
• 1.25 or 10 times Single Premium basis Age at Entry
Single Pay
Boundary Conditions – Sum Assured Choose Sum Assured as per convenience
SA Cover Multiple
Age at entry
(in years)
Policy Term
(in Years)
10 0 - 32 5 -30
10 33 - 38 5 – 20
10 39 - 44 5 – 10
10 45 - 49 5
10 50 - 65 N/A
1.25 0 - 65 5 -30
Surrender B
efo
re 5
yea
rs
Fund value transferred to Discontinuance Policy Fund after deduction of applicable surrender charges
FV paid after the expiry of lock in period, along with a minimum guaranteed interest rate of 4% p.a. from the date of discontinuance
Aft
er 5
yea
rs
No surrender charges post 5 policy years
Fund value will be paid to the policyholder immediately
Policy cannot be revived thereafter.
The current minimum guaranteed rate of interest under DPF is 4% per annum however minimum guaranteed interest rate applicable on discontinued fund will be decided by IRDA form time to time.
The excess income earned under DPF over the minimum interest rate shall also be appropriated to the DPF in arriving the proceeds of the discontinued policies
Revival
Discontinued Policy can be revived of by paying all due and unpaid Premiums, within
the Revival Period.
The Policy can either be revived on its original or modified terms and conditions as
per underwriting decision.
Revival Period, a period of 3 consecutive years from the date of first unpaid premium
The discontinuance charges deducted at the time of discontinuance of the Policy will
be added back to the Fund Value,
Charges Under The plan
Charges
No Charges
Switching Charge
Revival Charge
Miscellaneous Charge
Premium Allocation Charge
Policy Admin Charge
Partial Withdrawal Charge
Nil - Entire premium invested
Nil - No cancellation of units
Nil
Nil
Nil
Nil
Fund Management Charge (FMC)
Emerging Leaders Equity Fund
India Multi Cap Equity Fund
Equity II Fund
Growth Plus Fund
Balanced Plus Fund
1.35% Large Cap Advantage Fund
Debt Fund
1.00% Liquid Fund
0.8% Discontinued Policy Fund
(DPF)
0.5%
FMC mentioned are on per annum basis FMC will be deducted on daily basis
Mortality Charge
Mortality charge will be levied on :
1st business day of each policy month by way of cancellation of Units
The amount of charge depends on
Life Assured’s age and
Sum at Risk
Female Lives: Mortality charge to be set back by 3 years from rates for men
Premium Funding Benefit (PFB) Charges
• Levied by monthly cancellation of units
• The PFB Charge will apply on the Present Value of Future Premiums payable
• For female lives, PFB Charges will be 3 years rated down as compared to male’s PFB
Charges
Applicable only for Care Option
(AP – Annualized premium; SP – Single Premium; FV – Fund Value)
Surrender/ Discontinuance Charges
For Regular / Limited Premium policies
Policy is discontinued during
policy year
Discontinuance Charges for Policies having Annualized Premium up to Rs. 50,000
Discontinuance Charges for Policies having Annualized Premium above Rs. 50,000
1 Lower of 20% * (AP or FV) subject to a
maximum of Rs. 3,000 Lower of 6% * (AP or FV) subject to a
maximum of Rs. 6,000
2 Lower of 15% * (AP or FV) subject to a
maximum of Rs. 2,000 Lower of 4% * (AP or FV) subject to a
maximum of Rs. 5,000
3 Lower of 10% * (AP or FV) subject to a
maximum of Rs. 1,500 Lower of 3% * (AP or FV) subject to a
maximum of Rs. 4,000
4 Lower of 5% * (AP or FV) subject to a maximum
of Rs. 1,000 Lower of 2% * (AP or FV) subject to a
maximum of Rs. 2,000
5 and onwards NIL NIL
(AP – Annualized premium; SP – Single Premium; FV – Fund Value)
Surrender/ Discontinuance Charges
For Single Premium policies
Policy is discontinued during
policy year
Discontinuance Charges for Policies having SinglePremium up to Rs. 50,000
Discontinuance Charges for Policies having Single Premium above Rs. 3,00,000
1 Lower of 2% * (SP or FV) subject to a maximum
of Rs. 3,000 Lower of 1% * (SP or FV) subject to a
maximum of Rs. 6,000
2 Lower of 1.5% * (SP or FV) subject to a
maximum of Rs. 2,000 Lower of 0.7% * (SP or FV) subject to a
maximum of Rs. 5,000
3
Lower of 1% * (SP or FV) subject to a maximum of
Rs. 1,500
Lower of 0.4% * (SP or FV) subject to a maximum of
Rs. 4,000
4 Lower of 0.5% * (SP or FV) subject to a
maximum of Rs. 1,000 Lower of 0.35% * (SP or FV) subject to a
maximum of Rs. 2,000
5 and onwards NIL NIL
Suicide exclusion
• The nominee of the Policyholder shall be entitled to fund value
• The Policy will terminate upon payment of such benefit
Life Option & Century Option
• Premium funding benefit will not be triggered and policy stands terminated after making payment as per Life Option (basic cover) given above.
Care Option
Death due to suicide within 12 months from the date of commencement or revival
Thank You
"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“
“This document is strictly for internal training purposes only and is not to be used for soliciting business”
Recommended