Benefits of Life Bond Advantage Plan-lifebond-advantage-plan

If the policyholder outlives the entire policy term, they gets the Maturity Benefit, which is equal to the Fund Value as on the date of maturity. Loyalty Additions are offered if there is no premium outstanding. The Loyalty Addition is equal to 4% of the Fund Value pertaining to the single premium at the end of the tenth policy year. The Loyalty Addition is 2% at the end of every subsequent tenth policy year. On the unfortunate death of the insured person, the beneficiary is provided with the death benefit that is higher of the fund value and the basic sum assured. Additionally, the higher of the Fund Value or Top-up Sum Assured pertaining to Top-up premiums, is also paid as part of the Death Benefit. The benefit of accidental death is offered to the beneficiary in case of accidental demise of the life insured, provided he/she is aged between 18 and 60 years. Both the Accidental Death Sum Assured and the Base Sum Assured are equal in amount (maximum Rs.50,00,000). Based on the policyholders risk appetite, they can choose from 7 unit linked funds for making investments. High liquidity is available as partial withdrawals are allowed, after the completion of initial five years of policy term. Rs. 5000 is the minimum amount permitted for withdrawals. The policyholder can opt for regular inflow of a fixed amount of cash from the fund via Systematic Partial Withdrawals. Under section 80c and 10(10D) of Income Tax Act, the insured can avail Tax benefits on the premium paid and death coverage.