Combines features of an insurance policy and an investment instrument. Provides safety, liquidity, attractive returns, and tax benefits. No medical examination required. Only a Simple declaration of good health to be submitted.
Single premium makes it hassle free and ideal to gift to somebody.
The sum assured along with the guaranteed and loyalty additions, if any, will be paid on the expiry of the stipulated term. There will be Guaranteed Additions at compound rate of Rs.85 per thousand p.a. during the first five years and Rs.90 p.a. per thousand thereafter accruing at the end of every policy year during the term of the policy. In other words, the Guaranteed Addition at the end of each policy year will be based on the basic Sum Assured and accrued Guaranteed Additions at the rates mentioned. On the life assured surviving the stipulated date of maturity, Loyalty Addition may be paid at such rates and on such terms as may be declared by the Corporation. The sum assured together with the accrued guaranteed additions will be payable on the death of the policyholder during the term of the policy.