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Assured Gain Plus Plan
Introduction/Overview Assured Gain Plus is a traditional life insurance plan which provides financial safety for the future through wealth accumulation and life insurance coverage Key Features This plan is a participating plan with limited and Single premium payment term The plan has a fixed PPT of 5 years
Product Specification
Details About Premium Annual premium in Rupees and Benefit Illustration Policy Details Grace Period: 15 days grace period is allowed for premium payment in monthly modes and 30 days in other modes Policy Termination or Surrender Benefit: the policy can be surrendered anytime if one full years premium has been paid. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) GSV = % of all Premiums paid + % of vested bonuses 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 15 days of receipt of the policy documents, provided there has been no claim. Inclusions The policy provides loan facility @ 60% of the SSV Additional Features or Riders Discount in premium for paying higher premiums The following Critical Illness Riders are available under the plan: Exide Life Critical Illness (4) Regular Pay Exide Life Critical Illness (25) Regular Pay Exclusions In case of suicide within 12 months from inception 80% of premiums paid are returned and within12 months of revival, higher of 80% of premiums paid or the acquired Surrender Value is payable
Benefits
If the policy completes 5 years, Guaranteed Terminal Additions as a % of SA is paid on maturity or death which depends on the policy term On Maturity, Sum Assured on maturity + Guaranteed Terminal Additions + Simple reversionary bonus is paid subject to a minimum of 101% of all premiums paid On death, Sum Assured on death + vested bonuses + Guaranteed Terminal Additions, if any is payable Sum Assured on death is higher of the Sum Assured on maturity or 10 / 7 times the annual premium for limited pay policies or 1.25 or 1.10 times the single premium subject to a minimum of 105% of all premiums paid for limited pay plans or 125% of single premium paid Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively
Documents Required
Policyholder has to fill up an `Application form/ proposal form with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person. ING Vysya Life Insurance gets Rechristened to Exide Life Insurance