(UIN No: 133L020V01)

Flexibility :

• Premium Reduction – You have the option of reducing the premium from the second year onwards without any change in the initial risk coverage. The reduced premium should not be less than 75% of the 1st year premium.
• Riders: The following optional riders are available to enhance the insurance coverage
• Accidental Death Rider (UIN: 133C001V01) – An additional amount, equal to the sum assured selected under this benefit is paid, incase of death due to accident .
  


• Accidental Total and Permanent Disability Rider (UIN:133C002V01)  – In case of life assured becoming totally and permanently disabled due to accident, the rider sum assured is paid in 10 equal annual installments. In case of death of the life assured, surrender or maturity of the policy occurring before the payment of all installments, the balance of installment is payable in lump-sum.
  
• Top-up Premium: Anytime during the tenure of the plan, you can pay top-up premium over & above regular premium, provided all regular premium is paid as and when due. The minimum top-up premium amount is Rs.5, 000/- .There is no limitation on number of top-ups made in a single policy year. Every top-up made during the tenure of the policy has a lock-in period of three years.
  
  

  Note: Additional top-up single premiums can be paid over the policy term while the policy is in force.  
  

• Top-up Sum Assured: If the total top-up premium is more than 25% of the total regular premiums paid till date, then such top-up premium will be accepted with an additional Sum Assured or Top-up Sum Assured to the extent of 110% of the top-up single premium in excess of the 25% of the total regular premiums paid till date and will be subject to the underwriting norms of the company.
  
• Premium Redirection: At any time after completion of one year, you may instruct us in writing to redirect all future premiums in an alternative proportion to the various unit funds available.
  
• Switching between the Funds: Switch your existing premium to another fund option available and thus actively manage your own investment. Six switches are free in a policy year, thereafter Rs.100/- is charged per switch. Minimum amount that can be switched is Rs. 5,000/-.
  
• Surrender: Policy will acquire surrender value only after the payment of one full year’s premium and will be payable only after the completion of three policy years. The surrender value will be the Fund Value less the surrender penalty, as applicable.
  
• Partial Withdrawal: Partial Withdrawal is allowed after the completion of 3rd policy year if life assured is a major or during the lifetime of the proposer if the life assured is minor. The minimum amount that can be withdrawn is Rs.5,000. In a policy year, four partial withdrawals are allowed free of cost and any partial withdrawal thereafter will be subject to charge as mentioned below.
  
  

  After each withdrawal the Fund Value should be at least the higher of :

  • One year’s annualized premium
  • The top-up single premiums paid in the last 3 years

  For the purpose of partial withdrawals, all top-up premiums, whether or not associated with insurance cover, except top-up premiums paid during last three years of the policy, shall be treated as Single Premium. For a top-up premium made during the period of the policy, a lock-in period of three years shall apply from the date of payment of that top-up premium.

• Settlement option* : You may also opt for the settlement option for your maturity benefit. Under Settlement Option, the maturity benefit may be taken in installments spread over a period up to five years from the date of maturity.
  
  

  In order to opt for the settlement option, a notice must be given at least 30 days before the maturity date. During this period, there will be no life cover. On death of the life assured during the settlement period, the Fund Value will be payable.
  
  *The policy administration charges and fund management charges will continue to be deducted. Partial withdrawals and Switching will not be allowed in the settlement period. During the settlement period, the investment risk in investment portfolio will continue to be borne by the policyholder

 

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Charges:

• Premium Allocation Charge –

  The premium allocation charge will be de deducted from the premium amount at the time of premium payment and the remaining premium will be used to purchase units in various investment funds according to the fund allocation specified by you.
  

  The allocation charge for the first policy year is as per the table below
  

  Premium Payment Term	Gold	Platinum
  3 yrs	6%	5%
  5 yrs	7.5%	5%
  10yrs to 14yrs	10%	7.5%
  15yrs to 20yrs	15%	10%

  
  From the second policy year onwards, 2% will be charged under both the plan options
  Top up Single Premium = 2%

• Fund Management Charge – FMC will be charged at the time of computation of the NAV, which will be done on a daily basis. This will be charged as a percentage of the value of the assets and will be adjusted towards the NAV.
  
  

  Fund management charge (% p.a.)
  Future Secure Fund	1.10%
  Future Income Fund	1.35%
  Future Dynamic Growth Fund	1.35%

• Policy Administrative Charge– The policy administrative charge under the policy is,
  
  
  • 1st year: Rs.15 per 1,000 sum assured for first Rs.50,000 and Rs.2 per 1,000 sum assured for the balance sum assured.
    
  • 2nd year: onwards: Rs 600 per annum.
    
    
  This charge will be recovered by canceling units on a monthly basis proportionately from each investment fund.

• Switching Charge – This is the charge deducted on switching from one fund to another within the plan. Six free switches are allowed in a policy year; thereafter switches are subject to charge of Rs. 100 per switch. Unused free switches cannot be carried forward to the next policy year.
• Partial Withdrawal Charge - A total of four withdrawals are free in a policy year, thereafter an amount of Rs. 200, is deducted from the withdrawal amount .
• f) Mortality Charge – Below mentioned are the sample mortality charges for lives for 1000 of sum assured.

• Rider Charges - Rider charge (s) will be deducted from the Fund Value every month by way of cancellation of units
  
  • 50 paisa per Rs. 1000 Sum Assured per annum for all ages will be charged if Accidental Death Rider is selected.
    
  • 40 paisa per Rs. 1000 Sum Assured per annum for all ages will be charged if Accidental Total and Permanent Disability Rider is selected.
    
  
  
• Surrender Penalty -
  

Number of completed Policy years	Surrender penalty as a % of fund value
1 year or less	15%
More than1 but less than or equal to 2	10%
More than 2 but less than or equal to 3	5%
More than 3	0%

Eligibility Criteria:

Minimum – Maximum Entry Age	Policy Term 10 years: 8 years – 65 Years Last Birthday Policy Term 20 years: 0 years – 55 Years Last Birthday For policy term other than 10 years & 20 years: The entry age for other policy terms, age plus term is greater than or equal to 18 years but less than or equal to 75 years
Maximum Age at Maturity	75 Years
Premium Paying Frequency	Yearly /Half-Yearly / Quarterly / Monthly (ECS)
Policy Term	Minimum – All terms between 10 years – 20 years both inclusive
Premium Paying Term	Limited Premium Payment: 3 /5  years Regular Premium Payment: Policy term
Minimum Sum Assured	5*Annual Premium
Maximum Sum Assured	M*First Year Annual Premium, where M is the multiple which depends upon the age at entry.  Age at Entry (last birthday) Maximum Multiple - M up to 35 years 30 36 years to 45 years 25 46 years to 55 years 10 56 years to 65 years 5 The sum assured for Top up single premium (if exceeding 25% of the base premiums paid till that date) will be 110% of such top up single premium paid.
Minimum Premium	Premium Mode Amount (Rs) Yearly 25,000 half Yearly 13,000 Quarterly 7,000 Monthly 3,000




For the Riders
Minimum – Maximum Sum Assured	Accidental Death Rider - Rs. 75,000 – Basic SA subject to a max of Rs. 30 lakhs on a single life Accidental Total and Permanent Disability Rider - Rs. 75,000 – Basic SA subject to a max of Rs. 40 lakhs on a single life
Minimum – Maximum Entry Age	Accidental Death Rider and Accidental Total and Permanent Disability Rider: 18 – 60 Years Last Birthday
Maximum Age at Maturity	65 Years Last Birthday
Minimum – Maximum Policy Term	Accidental Death Rider and Accidental Total and Permanent Disability Rider: 10 – 20 Years

Premium Table

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