Wealth Builder II – Benefits-wealth-builder-ii-plan

On Maturity of the policy, the insured receives the total fund value including the top-up fund value. The policyholder can avail the maturity proceeds after the policy matures. The maturity benefits can be received over a period of 5 years. This maturity benefit can be availed in equal installments through the settlement options. The sum assured payable on death of the insured depends on the Premium Paying Tenure chosen by him. For single pay plans, higher of the Minimum Death benefit amount or the Sum Assured (Top-up Sum Assured minus the amount Partially Withdrawn) or Fund Value (Top-up Fund Value) is paid. For Limited and Regular Pay plans, higher of Sum Assured + Fund Value (including top-up SA and Fund Value) or Minimum Death Benefit is payable for ages less than 50 years. If the policyholder dies at the age of 50 years or above, the nominee will receive the Sum Assured including Top-up sum assured net of partial withdrawals or Minimum Death Benefit or Fund Value including Top-up Fund Value (Whichever is higher). The Minimum Death Benefit is determined as 105% of all paid premiums Loyalty Additions and Additional Loyalty Additions are added from the 6th policy year at 0.25%. After the completion of 10th policy year, wealth boosters are added to fund value, every year, at 1.50% for Single Pay and 3.25% for Regular Pay options. All these additions are expressed as a percent of the average Fund Value (Top-up Fund Value) over last eight quarters.