Product Specification-dhfl-aajeevan-samriddhi-plan

Grace Period: There is a limited timeframe of 30 days from the due date of the unpaid premium to pay all dues. Policy Termination or Surrender Benefit: The policy may be surrendered after three years on the condition that all premiums have been paid. The Surrender Value that is paid is the higher of the Guaranteed Surrender Value and the Special Surrender Value. If the policy does not get revived or 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. Free Look Period: Policyholders have a limited free look period of fifteen days from the date of receiving policy documents to review the policy. This timeframe is extended to thirty days in case the policy was sold via distance marketing. If the policyholder does not wish to continue with the policy, then he or she can cancel the policy. The customer will receive premiums paid 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. Additional Features or Riders A policy loan may be availed after the policy achieves Surrender Value, on the condition that the loan amount does not exceed 90% of the Surrender Value. The revival of a lapsed policy is possible if the policyholder submits a request for reinstatement within a timeframe of two years from the date of the first unpaid premium. If premiums for three policy years are paid and subsequently the policyholder does not pay the due premiums within the given Grace Period, the policy acquires 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. The company will refund 80% of the premiums paid to the nominee. In case the person insured commits suicide within one year from the policy reinstatement, the nominee will receive the higher of 80% of the premiums paid or the Surrender Value.