The policyholder has to fill up an `Application form with identity proof, bank account proof, address proof and a recent photograph.
The policyholder receives tax benefits under sections 80(C) and 10 (10D) of the Income Tax Act. In the unfortunate event of the death of the Life Insured, his or her nominee receives a Death Benefit with the Death Sum Assured being paid to them immediately. Three types of Survival Benefit is paid if the person whose life is insured is alive during the payout period. The payout period is the last five years for plan option 5-5-5 and the last seven years for plan option 7-7-7. These Survival Benefits are as follows : Guaranteed Maturity Benefit – when the policy matures, the policyholder receives forty times the monthly income for plan option 5-5-5, or sixty times the monthly income in case of plan option 7-7-7. Annual Income – This is five times the monthly income. It is paid at the end of every policy year excluding the last year of the policy term. Monthly Income – chosen by the policyholder and is paid at the beginning of every policy month.
https://insuremile.in/wellsurance-woman-policy/ urllinkcontent: TATA AIG Wellsurance Woman health insurance – compare Quotes policy – Insuremile nextrowlinkcontent https://insuremile.in/investment-plan/ urllinkcontent: Investment Life Insurance-Compare Investment Insurance Quotes-Insuremile nextrowlinkcontent https://insuremile.in/triple-anand-advantage-plan/ urllinkcontent: Travel Insurance – Compare Future Generali Triple Anand Advantage Travel Insurance quotes policy – Insuremile nextrowlinkcontent https://insuremile.in/dream-smart-plan/ urllinkcontent: Life insurance – Compare Canara HSBC Dream Smart Assurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/smart-future-insurance-plan/ urllinkcontent: Life Insurance – Compare Exide Life Smart Future Insurance Plan Unit Insurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/maxis-super-plan/ urllinkcontent: Life insurance – Compare Max Life Maxis Super Assurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/ujjwal-life-plan/ urllinkcontent: Shriram Ujjwal Life Health insurance – compare Quotes policy – insuremile nextrowlinkcontent https://insuremile.in/iterm-insurance-plan/ urllinkcontent: Life insurance – Compare AEGON Life i Term Insurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/wellsurance-woman-policy/ urllinkcontent: TATA AIG Wellsurance Woman health insurance – compare Quotes policy – Insuremile nextrowlinkcontent https://insuremile.in/wealthsurance-growth-insurance-plan/ urllinkcontent: Life Insurance – Compare IDBI Federal Wealthsurance Growth Insurance Plan Unit Insurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/triple-anand-advantage-plan/ urllinkcontent: Travel Insurance – Compare Future Generali Triple Anand Advantage Travel Insurance quotes policy – Insuremile nextrowlinkcontent https://insuremile.in/u-protect-plan/ urllinkcontent: Life insurance – Compare DHFL Pramerica U Term Insurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/tata-aig-personal-accident/ urllinkcontent: General insurance – compare Tata AIG personal accident insurance – insureMile nextrowlinkcontent https://insuremile.in/star-health-personal-accident/ urllinkcontent: General insurance – compare Star Health personal accident insurance – insureMile nextrowlinkcontent https://insuremile.in/term-insurance-return-of-premium/ urllinkcontent: Life Insurance – Compare Term Insurance Return of Premium Plans – Insuremile nextrowlinkcontent https://insuremile.in/quintessential-lifestyle-after-retirement-with-the-retirement-plans/ urllinkcontent: Quintessential lifestyle after retirement with the retirement plans nextrowlinkcontent https://insuremile.in/to-leverage-the-wealth-of-future-through-best-life-insurance-investment-plans/ urllinkcontent: To leverage the wealth of future through best life insurance Investment Plans nextrowlinkcontent https://insuremile.in/go-for-the-general-insurance-micro-insurance-plans-to-have-lots-of-benefits/ urllinkcontent: Go for the general insurance micro insurance plans to have lots of benefits nextrowlinkcontent https://insuremile.in/varishtha-pension-bima-yojana-plan/ urllinkcontent: Life insurance – Compare LIC Varishtha Pension Bima Yojana Retirement Insurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/wealth-enhancement-ace-plan/ urllinkcontent: Life Insurance – Compare Edelweiss Tokio Life Wealth Enhancement Ace Unit Insurance Plans – Insuremile nextrowlinkcontent https://insuremile.in/mediclaim-health-insurance-policy-an-alternative-to-health-insurance/ urllinkcontent: Mediclaim health insurance policy: An alternative to health insurance nextrowlinkcontent https://insuremile.in/get-an-online-taxi-insurance-policy-to-conveniently-protect-your-asset/ urllinkcontent: Get an online taxi insurance policy to conveniently protect your asset nextrowlinkcontent
Details About Premium Annual premium in Rupees Policy Details Grace Period: There is a limited timeframe of 30 days from the due date of the unpaid premium to pay all dues, without interest. Policy Termination or Surrender Benefit: On the completion of two full policy years, if the premiums have been paid in full then the policy acquires Surrender Value. The Surrender Value payable is higher of the Guaranteed Surrender Value and Special Surrender Value. Termination of the policy occurs at the earliest of the following: (1) On the death of the life assured (2) Surrender of the policy. (3) On the maturation of the policy. (4) When the policy has lapsed and not reinstated within the revival timeframe. (5) In case of fraud on the part of the policyholder. Free Look Period: A limited free look period of 15 days from the date of receiving policy documents is allowed to review the policy. This timeframe is extended to thirty days if the policy was sold via distance marketing mode. If the policyholder does not wish to continue with the policy, then he or she has to return the policy stating their objections. The premium that was paid will be refunded minus a proportionate premium for the risk borne by the company, including as any extra expenses, such as towards stamp duty charges. Lapse: Failure to pay the due premiums within the grace period for the first two full years will cause the policy to lapse. Benefits are not available once the policy has lapsed. Additional Features or Riders The revival of a lapsed policy is possible if a written request is submitted by the policyholder within a timeframe of two years from the first unpaid premium. Sufficient evidence of insurability has to be provided to the company, and all due premiums and interest accumulated have to be paid at the time of reinstatement. The cost of any medical examination has to be borne by the policyholder. If premiums for a minimum of two years have been paid and subsequent payments have not been made, then benefits under the policy are reduced proportionately. This reduction is called Reduced Paid-up Value Exclusions The term insurance cover is void if the person insured, whether sane or insane at the time, commits suicide within one year from the start of the policy cover or revival of the policy. The company will refund only 80% of the premiums received, to the nominee.
Introduction/Overview Elite Assure Plan is a traditional life insurance plan that offers financial stability for its policyholders. As it is a savings cum investment policy, it helps build a supplementary future income for its customers, along with providing for the policyholders family and loved ones in the unfortunate event of their passing away. Key Features The policyholder receives a variety of benefits with this policy in the form of a regular monthly income, intermediate annual income and a lump sum at the closure of the policy term. The policy provides the flexibility to choose from two plan options, plan option 5-5-5 and plan option 7-7-7. In the 5-5-5 plan option, premiums are paid for five years, the money is accumulated for another five years and after the tenth year the policyholder starts receiving payouts during the last five years. The second plan called the 7-7-7 plan option is similar in structure to the 5-5-5 plan, except that the number of years is seven years instead of five. The policy provides protection and financial stability for the policyholders family, in case of his or her untimely and unfortunate demise.
