Benefits-i-growth-plan

If the policyholder survives until the policy matures, he or she receives a Maturity Benefit, which is the Fund Value as on maturity date plus Loyalty Additions. The policyholder receives Fund Value based Loyalty Additions on the last three policy anniversaries of the policy term, on the condition that all Loyalty Additions have been paid until the date of the respective Loyalty Additions. In the unfortunate event of the demise of the policyholder, the nominee receives a Death Benefit. The Death Benefit is: Higher of the Base Sum Assured, or 105% of the total premiums paid, or The Fund Value as on the date of death. If the Life Insured passes away during the lock-in period of the first five policy years, the nominee receives the Fund Value as on the date of death plus Loyalty Additions. An Accidental Death Sum Assured is also paid to the nominee in case of the accidental death of the life insured. The Accidental Death Sum Assured amount is equal to the Base Sum Assured subject to a maximum of Rs. 50 lakhs. Based on the customers propensity to take risks, there is a choice of three Unit Linked Funds for investment. Liquidity is available in the form of partial withdrawals, which are allowed after the first five policy years are completed. The minimum withdrawal amount is Rs. 5000. Tax benefits are available on the premium paid and Death Benefit as per sections 80(C) and 10 (10D) of the Income Tax Act.