Introduction:
This is a with-profits whole of life plan which provides for annual survival benefit at a rate of 5½ % of the Sum Assured after the chosen Accumulation Period. The vested bonuses in a lump sum are payable on survival to the end of the Accumulation Period or on earlier death. Further, the Sum Assured, along with Loyalty Additions, if any, is payable on survival to age 100 years or on earlier death.
Accumulation Period :
The plan offers three Accumulation periods – 10, 15 and 20 years. A proposer may choose any of them.
Payment of Premium:
Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals or through salary deductions over the Accumulation Period. Alternatively, a Single Premium can be paid on commencement of a policy.
Sample Premium Rates:
The tables below provide tabular premiums for various age-term combinations for Rs. 1000/- Sum Assured.
Regular Premiums |
Accumulation period |
Age |
10 years |
15 years |
20 years |
Up to 40 years |
109.10 |
71.40 |
51.50 |
41 to 45 years |
109.10 |
71.40 |
53.40 |
46 to 50 years |
109.10 |
73.80 |
56.60 |
51 to 55 years |
111.80 |
77.90 |
- |
56 to 60 years |
116.60 |
- |
- |
Single premiums |
Accumulation period |
Age |
10 years |
15 years |
20 years |
Up to 46 years |
756.00 |
644.00 |
548.00 |
47 years |
756.00 |
644.00 |
549.00 |
48 years |
756.00 |
644.00 |
552.00 |
49 years |
756.00 |
644.00 |
555.20 |
50 years |
756.00 |
644.00 |
558.90 |
51 to 55 years |
756.00 |
644.00 |
- |
56 to 60 years |
756.00 |
- |
- |
Participation in Profits:
Policies under this plan shall participate in profits of the Corporation. During the accumulation period policies shall be entitled to receive simple reversionary bonuses which will be payable on survival to the end of the accumulation period or on earlier death. After the accumulation period, policies will be entitled to receive a Loyalty Addition payable on maturity or earlier death. The amount of simple reversionary bonus and Loyalty Addition will depend on the experience of the Corporation. |
