Details About Premium
Annual premium in Rupees for a Sum Assured of Rs 1 crore
Grace Period: 30 days grace period is allowed for payment of premium for Annual and Semi-Annual Modes and 15 days for Monthly Mode
Policy Termination or Surrender Benefit: there is no surrender value under the plan for Regular Premium Payment.
However, for Single Premium Payment, there is Surrender Benefit available after the 3rd Policy year.
Surrender Benefit= 40% X Single Premium Paid X (Unexpired Tenure / Total Policy Tenure)
Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 30 days of receipt of the policy documents, provided there has been no claim.
In case of suicide committed within 12 months of policy inception or revival only 80% of premiums paid are returned to the nominee.
In case of suicide committed after 12 months of policy inception or revival, the death benefit payable to the nominee will be higher or Surrender Value, if applicable or 80% of total premiums paid.
Policyholder has to fill up an `Application form/ proposal form online and provide self-attested copies of KYC/AML Documents as per the requirement. Medicals will be done as per the companys internal medical grid.