Frequently Asked Questions-youngstar-super-premium-plan

1. What are the surrender benefits offered by the policy? The policy may be surrendered after five years on the condition that all premiums have been paid. The Fund Value is paid to the policyholder, and the policy is terminated. If, however, the policy is surrendered before completing five years, then the insurance cover ceases, the Fund Value will be transferred to the Discontinued Policy Fund. If the policy is not reinstated within the revival period, the policy is terminated. Termination of the policy also occurs on payment of the Maturity benefit or the Death Benefit. 2. What are the add-on benefits offered by the policy? 6 Critical Illnesses are covered under the Life and Health Option. 3. What are the inclusion and exclusion offered by the policy? The inclusion and exclusion offered by the policy are- Inclusions Partial Withdrawals are allowed after 5 policy years to a minimum of Rs.10,000. Premium redirection is available from the 2nd policy year. Switches are also allowed for managing investments. Exclusions The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date. For the Critical Illness cover, Illnesses contracted within 6 months of policy inception or revival or due to self-inflicted injury, alcohol abuse, war, aviation or act of criminal nature will be excluded. 4. How many days of free look period offered by the policy? Policyholders have a limited free look period of 15 days from the date of receiving policy documents to review the policy. If the policyholder does not wish to continue with the policy, then he or she can cancel the policy. The customer will receive the Fund Value plus the unallocated premium minus a proportionate premium for the risk borne by the company, including as any extra expenses, such as towards a medical examination or stamp duty charges.