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This plan allows you to retire honorably and to live a contented life in golden years of your life. You can plan for your retired life by saving in small amounts during your working life. These savings grow to create a substantial corpus to provide for a sizable regular income during your retired life. Use the power of compounding to take care of your worries for the future.
Plan Details
| Minimum Issue Age |
25 Years(Nearer birthday) |
| Maximum Issue Age |
55 Years (Nearer birthday) |
| Minimum Sum Assured |
Rs. 50,000 |
| Minimum Benefit Term |
10 Years |
| Maximum Benefit Term |
40 Years |
| Premium Paying Term |
Same as policy term |
| Maximum Coverage Age |
65 Years |
| Minimum Age for start of pension |
50 years |
Grace period for non-forfeiture provisions
Grace period of 30 days irrespective of any calendar month will be allowed for payment of yearly, half yearly and quarterly premiums and 15 days in monthly mode of premiums. In case premium is not paid within the grace period and if death occurs within this period, the policy will be still valid and the sum assured shall be paid to the claimant after deduction of outstanding premiums falling due before the next policy anniversary
What happens if the payment of premiums is discontinued?
- If the premium have been paid for at least 3 years the policy acquires paid-up value which is reduced Sum Assured being in proportion to the premiums paid to premiums payable. The attached bonuses remain with the policy but it does not participate in future profits.
Can the policy be surrendered?
Yes, after the policy has run and premiums have been paid for at least 3 years. Higher of Special surrender value and Guaranteed surrender value is payable, where
- Guaranteed surrender value is equal to 30% of premiums paid (excluding the first year's premium, extra premiums and rider premiums, if any). Cash value of existing attached bonus will also be paid.
- Basis for calculating Special surrender value shall be announced by the company from time to time.
Is loan available?
- No loan is available under the policy.
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