The plan provides life insurance cover for the entire policy term. The policy issuance is hassle free and speedy as no medical tests are required while buying the policy. In case of the unfortunate demise of the insured, an amount equal to sum assured is paid to the nominee.
Sum Assured on Death is defined as higher of
- Absolute amount assured to be paid on death; or
- 105% of total premiums paid towards base policy till the date of death (excluding taxes); or
- ‘X’ times the Annualized premium for base policy; or
- Sum Assured on Maturity.
The multiple of ‘X’ times is defined as follows:
For Regular and Limited Premium:
|‘X’ (Till 44 years)
||‘X’ (45 years and above)