Wealth Builder II -Product Specification:-wealth-builder-ii-plan

Details About Premium Illustration for a policy term of 20 years: Wealth Builder II -Policy Details Grace Period: In case of failure of the premium payment within the given time, a 15 days grace period is allowed to the insured to pay off the due premium in monthly mode and 30 days in other modes. If the insured fails to pay off all outstanding premiums in the given time, then the policy tenure will lapse. Policy Termination or Surrender Benefit: For Single Premium policies, applicable under Option A, the policy can be surrendered after the first policy year. For Regular Premium policies, the policy acquires Surrender Value only after payment of premiums for the first three policy years. The policy is terminated, if it is not restored within the revival period. Besides, once the insurer pays off the death and the maturity benefit, the policy comes to an end. Free Look Period: If the insured is dissatisfied with the coverage and terms and conditions of the policy then they have an option to cancel the policy within the first 15 days of the policy, provided there has been no claim made yet. In case of financial emergencies, the policyholder is allowed to withdraw 20% of the fund value in a year. For required investment portfolio, the insured is allowed to switch between funds. The policyholder can use top-ups to increase the fund value. Rs2000 is the minimum amount for top-up payments. The insured can switch between the portfolios strategies opted once every year free of cost. Premium Redirection option is available under this plan.