Death Benefit

In case of unfortunate demise of the Life Insured during the Policy Term, the Company will pay lump sum benefit equal to Death Sum Assured, which will be highest of

Base Sum Assured (11 times of Annualized Premium) OR

Maturity Sum Assured OR
105% of the total premiums (excluding underwriting extra Premium, if any) paid till the date of death.

Where Maturity Sum Assured is: Annualized Premium# x Maturity Benefit Multiplier (MBM) x lump sum factor.


Lump sum factor is defined as:

Lump sum factor table

PPT Factor PPT Factor
5 4.4258 11 8.1888
6 5.1557 12 8.6890
7 5.8410 13 9.1587
8 6.4845 14 9.5997
9 7.0888 15 10.0138
10 7.6561


The policy will terminate after payment of Death Benefit.


Maturity Benefit

On survival of the Life Insured till Maturity Date, the Company will pay Annual Payouts for duration equal to the payout period, where Annual Payout is defined as Annualized Premium# x Maturity Benefit Multiplier (MBM).

The Maturity Benefit Multiplier (MBM) will vary by Policy Term and entry age of Life Insured. The first payment will be made on the Maturity Date. If the Life Insured dies while he/she is receiving the Annual Payouts, the Annual Payouts will continue for the remaining duration of Payout Period.


#Annualized Premium shall be the Premium payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra Premium and loadings for modal Premium, if any


Payout Period

Payout Period is the period over which the Maturity Benefit is paid in equal installments. The Payout Period is equal to the Premium Paying Term and commences immediately after the end of Policy Term.

Option to receive lump sum benefit at any time during the payout period, the beneficiary will have the option to receive the outstanding annual payouts as a lump sum amount by making a written request. Lump sum amount, if opted, will be calculated as lump sum factors x Annual Payouts. The claim payment obligation of the Company will end on the payment of lump sum and no further benefits will be paid. The Company may change the lump sum factor depending on economic conditions and subject to prior approval from the IRDA of India.


Tax Benefits

Tax Benefits may be applicable as per prevailing tax laws. Tax laws are subject to change. Please consult your tax advisor for details.


Loan Availability

The policyholder can avail a loan against the policy after it acquires Surrender Value, up to 80% of the Surrender Value. The rate of interest applicable on the loan will be declared by the Company on an annual basis at the beginning of every financial year.