Wealth Protector Plan Benefits-wealth-protect-plan

When the policy matures, the policyholder receives the Fund Value plus Guaranteed Loyalty Additions as Maturity Benefit. 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 Sum Assured minus partial withdrawals (if any), or The Fund Value under policy, or 105% of the total premiums paid, minus any partial withdrawals. Guaranteed Loyalty Additions are available as a percentage of the first year Annualized Premium, and is payable on maturity of the policy. The policy offers six Unit Linked Funds for investment. The policyholder has the flexibility to customize and control his or her investments through switching between funds. This plan offers four additional rider benefits to enhance the customers coverage under the policy. 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. After completing one policy year, future premiums can be allocated in an altered proportion to the various available funds units. After five years from the commencement of the policy, the policyholder can make partial withdrawals, subject to the condition that the minimum withdrawal amount is Rs. 5000.