Maturity Benefit
On maturity, fund value including the value of persistency units will become payable.
On maturity, fund value including the value of persistency units will become payable.
Death Benefit
In the event of death, the Policy pays higher of, Sum Assured* less partial withdrawals (if applicable) or Fund Value (including the value of persistency units) or 105% of Premiums paid till date of death.
In the event of death, the Policy pays higher of, Sum Assured* less partial withdrawals (if applicable) or Fund Value (including the value of persistency units) or 105% of Premiums paid till date of death.
*Sum Assured will be reduced to the extent of partial withdrawals made in the last 2 years immediately preceding the date of death.
The policy will terminate on payment of death benefit.
Systematic Transfer Plan (STP)
With Systematic Transfer Plan (STP), you can invest a specific amount in a regular fashion in one or more of the four funds mentioned below,
With Systematic Transfer Plan (STP), you can invest a specific amount in a regular fashion in one or more of the four funds mentioned below, and decide the proportion of money you would like to invest in each fund at monthly intervals subject to minimum of 10% of single premium. This gives you the advantage of rupee cost averaging. You buy more units when markets are down and fewer units when markets are up, thereby reducing the average cost of purchase of units in the funds selected by you. Apart from choosing the amount, the Policyholder also needs to choose the duration/ period over which he/she would like to avail STP from the available options of 6 or 12 months.
Persistency Units
As our commitment towards your wealth creation objective, while the Policy is in force,
As our commitment towards your wealth creation objective, while the Policy is in force, Persistency Units as a percentage of average fund value at preceding 36 monthly anniversaries will be added to the Policyholder's unit account at the end of every 5th Policy year starting 10th Policy Anniversary until the end of the Policy Term. The Persistency Units will be as follows:
Premium Band |
From () |
To () |
Persistency Units |
Band – 1 |
65,000 |
1,99,999 |
1.50% |
Band – 2 |
2,00,000 |
Onwards |
2.00% |
Choice of Investment Funds
You have an option to choose from four funds to invest your money in
You have an option to choose from four funds to invest your money in. You can look at the investment objectives of each of our funds and match those with your investment goals and then decide the proportion of money you would like to invest in each of them. If you are opting for more than one fund, the minimum investment in any fund should be at least 10% of the Single Premium paid. The funds and fund objectives are as follows:
Fund |
Investment
objective |
Asset
Allocation |
Risk
profile |
Debt Fund
(SFIN: ULIF00127/08 /08FIXEDIFUND140) |
To generate steady return at lower risk by investing in a range of debt securities. |
Government securities: 50% to 100% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40%
|
Low |
Balance Fund
(SFIN: ULIF00227/08 /08BALANCFUND140) |
To generate balance return by investing in debt securities to provide stability and by investing in equities to provide potential to enhance the return through capital appreciation. |
Equity: 10% to 50% Government securities: 20% to 50% Corporate bonds: 0% to 50% Money Market/cash: 0% to 40%
|
High |
Growth Fund
(SFIN: ULIF00327/08 /08GROWTHFUND140) |
To generate higher return through capital appreciation in the long term by investing in a diversified portfolio of equities. Debt investment will provide a little stability and diversification. |
Equity: 40% to 80% Government securities: 10% to 30% Corporate bonds: 0% to 30% Money Market/cash: 0% to 40%
|
High |
Large Cap Equity Fund
(SFIN: ULIF00427/08 /08LARCAPFUND140) |
To generate higher return through capital appreciation in long term from a portfolio invested predominantly in large cap equities. |
Equity: 60% to 100% Money Market/cash: 0% to 40%
|
High |
Liquid Fund will be available to the Policyholder only through STP. Investment objective of Liquid Fund is as under.
Fund |
Investment objectives |
Asset Allocation |
Risk Profile |
Liquid Fund(SFIN: ULIF00920/01 /11LIQUIDFUND140)
|
To generate steady return at lower risk by investing in a range of short-term debt/liquid money market securities |
T-Bill/Money Market/Cash: 100% |
Low |
In addition to above fund an additional fund will be maintained for discontinued policies with the following asset allocation and SFIN.
Fund Name |
Investment objectives |
Asset Allocation |
Risk Profile |
Discontinued Policy Fund (SFIN: ULIF01024/02/ 11DISCONFUND140)
|
To generate steady return at lower risk when the policyholder surrenders the policy or discontinues premium payment during the lock in period. The currently prevailing minimum guaranteed rate of interest applicable to discontinued fund is 4% percent per annum |
Government Securities: 60% to 100% Money Market/cash: 0% to 40%
|
Low |
The minimum guaranteed rate of interest applicable to Discontinued Policy Fund will be specified by the IRDA of India from time to time.