You select the amount of cover (Basic Sum Assured) as per your protection requirement, the term for which you want to be covered and the term for which you want to pay premiums. {Limited Premium Payment Options of 5/7/10 yrs, Regular & Single can be your option} Subsequently, you select the Plan Option as per suitability i.e. Recurring* Payout or Immediate Payout. (*look for details) If you wish to increase your risk cover in future, you can also select the Step-Up Option.
High level of protection at a nominal cost
Maximum term of 40yrs Or up to age of 75, whichever is earlier.
Two death benefit payout options i.e. Immediate Payout or Recurring* Payout
Step up / Step Down options to increase / decrease cover
Flexible premium payment options i.e. Limited premium payment options are available.
Customize protection through available riders
Tax benefit on premiums paid u/s 80(C) and benefit received u/s 10(10D) subject to tax laws
/// Death Benefit:
In case of an unfortunate event of death of the life insured during the term of the plan, Nominee will receive the Sum Assured on death (on acceptance of the death claim) as per the Plan Option opted:
/// Option1.
Recurring Payout - The Sum Assured on death will be payable in the following manner:
Lump sum payment of 10% of Sum Assured on death, at the time of claim settlement, and
6% of Sum Assured on death every year for 15 years; the first payment being made one year after the date of death of the life insured. However, if the payouts are required in monthly mode, it can be opted by intimating at the time of claim.
The monthly payments will be 8.22% of the annual payments (i.e. 6% of
Sum Assured on death). The first payment will start from one month
After the date of death of the life insured.
In case the beneficiary would want to get lump sum instead of regular payouts (either annual or monthly) anytime after the death of the Life Insured, a discounted value of the outstanding regular payouts (either annual or monthly) shall be paid as lump sum. The discounted value shall be calculated using a discount rate of 3.0% p.a. compounding yearly.
/// Option2.
Immediate payout - The Sum Assured on death will be paid immediately and the policy terminates.
Maturity Benefit:
This is a pure protection plan, hence NO MATURITY BENEFIT is payable.
You may avail of this option at the time of purchase of the policy. It guarantees you additional insurance cover at certain important stages in your life in a cost effective and hassle free manner. You can increase your Basic Sum Assured without having to undergo any further medical examination. 
In the event of the life insured committing suicide within one year of the date of issue of the policy, 80% of the premiums paid shall be payable to the nominee.
In case of suicide within one year of the date of revival, when the revival is done within 6 months from date of first unpaid premium: Suicide Exclusion shall not be applicable and the Death Benefit under the product shall be payable.
However, in case of suicide within 1 year of the date of revival, when the revival is done after 6 months from the date of first unpaid premium : Higher of 80% of Premiums Paid or Surrender Value (if any) at the date of claim shall be payable.
Tax benefits & Disclaimer
Benefits earned under this plan are in accordance with the Income Tax Act, 1961. You can avail tax benefits on:
1.Your premiums under Section 80C.
2. Maturity or death claim proceeds under Section 10 (10D)
Tax benefits under the policy will be as per the prevailing income tax laws and are subject to change in the tax laws. You are advised to consult your tax adviser for details.
