Maturity Benefit
On survival of the Life Insured till maturity date, subject to Policy being in force for full risk benefits, the fund value will be paid to the Policyholder. Death cover will cease on Maturity.
On survival of the Life Insured till maturity date, subject to Policy being in force for full risk benefits, the fund value will be paid to the Policyholder. Death cover will cease on Maturity.
Death Benefit:
In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy
In case of an unfortunate demise of the Life Insured during the Policy Term, the Policy will pay Death Benefit which is equal to higher of Sum Assured or Fund Value subject to a minimum of 105% of total Premiums paid till date of death. Subject to policy being in force for full risk benefits.
Sum Assured is defined as a multiple of Annualised Premium:
Premimum Paying Term |
Sum Assured Multiple |
Age at entry < 45 Years |
Age at entry >= 45 Years |
5 Years |
10 |
7 |
10,15 or 20 Years |
10 |
10 |
Fund Conservation
This is an option to preserve your capital towards the end of your Policy when your investments are due to be paid back.
This is an option to preserve your capital towards the end of your Policy when your investments are due to be paid back. All your investments are systematically transferred from the Balance Fund, Growth Fund and Large Cap Equity Fund to Debt Fund in the last three years of your Policy on a half-yearly basis at the beginning of every half year. All premium received during this year will be redirected to Debt Fund.
Persistency Units
As a reward for continuing your Policy, Persistency Units equal to 1% of the average of Fund Value at preceding 36 months will be allocated to the Policyholder
As a reward for continuing your Policy, Persistency Units equal to 1% of the average of Fund Value at preceding 36 months will be allocated to the Policyholder's unit account at the end of the 10th, 15th, and 20th Policy anniversaries provided the Policy is in force.
Choice of Investment Funds
You have an option to choose from five funds to invest your money in.
You have an option to choose from five 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 Premium allocated. The fund 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 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 predominantly in large cap equities. |
Equity: 60% to 100% Money Market/cash: 0% to 40%
|
High |
Multi Cap Opportunities Fund(SFIN: ULIF01106/02 /18MULCAPOPPO140)
|
To generate capital appreciation for policyholders by dynamically investing across assets to capitalize on changing market conditions. The scheme aims to invest primarily in equities and to mitigate market volatility, in fixed income securities, including money market instruments. The investments will be market capitalization agnostic and will focus on growth oriented opportunities. |
Equity: 50%-100% Govt. Securities, Corporate Bonds: 0%-30%, Money Market Instruments/Cash: 0%-50%
|
High |
In addition to above funds, an additional fund will be maintained for discontinued policies with the following asset allocation and SFIN.
Fund Name |
Asset Allocation |
SFIN |
Risk Profile |
Discontinued Policy Fund
|
Government Securities: 60% to 100% Money Market/cash: 0% to 40%
|
ULIF01024/02 /11DISCONFUND140
|
Low |
The minimum guaranteed rate of interest applicable to Discontinued Policy Fund will be specified by the Authority from time to time.
Policy Surrender
The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of 5 complete Policy years. The surrender value will be the value of units less discontinuance or surrender charges.
The Policy will acquire surrender value from the first Policy year but it becomes payable only after completion of 5 complete Policy years. The surrender value will be the value of units less discontinuance or surrender charges.
Discontinuance of Premium Payment
For the Policy discontinuance due to non-payment of premium, provision of discontinuance will be applicable as per Linked Insurance Product Regulations 2019. Please refer to the detailed plan brochure for further details.
For the Policy discontinuance due to non-payment of premium, provision of discontinuance will be applicable as per Linked Insurance Product Regulations 2019. Please refer to the detailed plan brochure for further details.
Please refer to sales brochure for further details