Features

Product Summary:

It is a simple savings related life insurance plan with Guaranteed Additions where you may pay premiums either in lumpsum or regularly at monthly, quarterly, half-yearly or yearly intervals over the term of the policy.

1.  Sample Premium Rates:
Following are some of the sample premium rates per Rs 1000/- Basic Sum Assured:

Annual Premium ( in Rs.) for Rs 1000/- Basic Sum Assured:

Age (yrs.)	Term of the Policy (years)
	5	10	15
20	210.60	107.30	70.25
30	210.70	107.45	70.55
40	211.3	108.45	71.95
50	213.45	111.75	76.30

Single Premium ( in Rs.)  for Rs 1000/- Sum Assured

Age (yrs.)	Term of the Policy (years)
	5	10	15
20	923.65	789.45	679.85
30	923.70	789.75	680.85
40	924.10	791.80	686.15
50	925.50	798.35	701.50

2.  Eligibility Conditions and Other Restrictions:

Minimum age at entry	:  18 years (completed)
Maximum age at entry	:  60 years (nearest birthday)
Maximum Maturity Age	:  65 years (nearest birthday)
Policy Term	:  5 to 15 years
Minimum Sum Assured	:  Rs. 5000/-
Maximum Sum Assured	:  Rs. 30000/- Sum Assured shall be in multiples of Rs. 1,000/-

3.  Grace Period:  A grace period of two calendar month but not less than 60 days will be allowed for all modes of payments.

4.  Revival:     Under regular premium policies, if premiums are not paid within the grace period the policy will lapse. Subject to production of satisfactory evidence of continued insurability, a lapsed policy can be revived by paying arrears of premium together with interest within a period of five years but before maturity from the due date of first unpaid premium. The rate of interest applicable will be as fixed by the Corporation from time to time.

5.  Nomination: As per Section 39 of Insurance Act, 1938.

6.  Cooling-off period: If you are not satisfied with the Terms and Conditions of the policy you may return the policy to the Corporation within 15 days from the date of receipt of the policy bond stating the reason of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of premium paid after deducting the proportionate risk premium and stamp duty.

7.  Exclusions: This policy shall be void if the Life assured (whether sane or insane at the time) commits suicide at any time within one year from the date of commencement of risk and the Corporation will not entertain any claim under this policy except to the extent of a maximum of (i) 90% of the single premium paid excluding any extra premium paid or (ii) third partys bonafide beneficial interest acquired in the policy for valuable consideration (but limited to the basic sum assured of this policy) of which notice has been given in writing to the branch where the Policy is being presently serviced (where the policy records are kept) at least one calendar month prior to death.