Benefits-triple-anand-advantage-plan

The Survival Benefit of this policy is paid as five yearly payouts equal to 10% of the Sum Assured. The Survival Benefit begins at the end of the last premium payment year. At the end of the policy term when the policy matures, the policyholder receives a lump sum that is equal to 50% of the Sum Assured plus any declared Compound Reversionary bonus and Terminal Bonus if any. This lump sum is the Maturity Benefit. There is an Extended Cover Benefit, through which, if the policyholder reaches the age of 80, he or she will receive a lump sum payment of 100% of the Sum Assured. If the policyholder passes away after the policy has matured but before they have turned 80 years of age, the nominee receives 100% of the Sum Assured. In the unfortunate event of the demise of the person insured, the nominee receives the Death Benefit. The Death Benefits payable is higher of the following: The Death Sum Assured plus the accrued Compound Reversionary Bonus and Terminal Bonus (if any), or 105% of the total premiums paid. This policy offers the advantage of compound reversionary bonuses that are paid on maturity of the policy or as part of the Death Benefit. Tax benefits are available on the premium paid and Death and Maturity Benefits as per sections 80(C) and 10 (10D) of the Income Tax Act.