This is a without profit term insurance plan with high cover and regular premium payments. It provides financial protection against death throughout the term of the plan.. Features and other conditions of the plan are as under:

Death Benefit:
The Sum Assured is payable in a lump sum on death of the life assured during the policy term.

Premiums are payable yearly, half-yearly, quarterly or through Salary deductions, throughout the premium paying term or till earlier death. Premium paying term is same as the policy term as this is a regular premium plan.

Premium Table:

Eligibility Conditions:
Minimum sum assured : USD 100,000
Maximum sum assured : No limit
Minimum Policy term : 5 Years
Maximum Policy Term : 35 years
Minimum age at Entry : 18 years(completed)
Maximum Age at Entry : 60 years (nearer birthday)
Cover ceasing Age : 60 years
Mode of payment of premium : Yearly, Half yearly, Quarterly,
Monthly and through : Salary Savings Scheme

Mode of Premium Payment:
Mode of premium payment under this plan will be Yearly, Half yearly, Quarterly, Monthly and through Salary Savings Scheme (SSS). Extra premium payable for modes other than yearly:
Half Yearly : (Annual Premium × 1.01) / 2
Quarterly : (Annual Premium × 1.015) / 4
Monthly other than SSS : (Annual Premium × 1.02) / 12
For SSS no Extra premium will be charged.
Accident Benefit:
Accident benefit may be granted under this plan. Maximum Allowable Sum Assured for AB is USD 100,000. Minimum age at entry for Accident Benefit is 18 years. Accident Benefit Rider can be availed by paying a premium of 1 per thousand sum assured.

Critical Illness Benefit:
Critical Illness benefit can be opted for under this plan by paying an extra premium as per the prevailing critical illness rider rates, subject to the underwriting conditions.

The policies can be dated back within the financial year. Back dating interest will be charged for dating back in excess of one month. This rate will be decided from time to time & will be subject to revision.

Surrender Value:
There is no surrender value to this plan.

Paid-up Value:
If atleast 2 full years premium have been paid, and subsequent premium within a grace period is not paid then the policy is converted into a reduced paid up policy. The company as per the approval of the regulator will then reduce the sum assured under the policy to such a sum as shall bear the same ratio to the full sum assured as the number premiums actually paid shall bear to the total number originally stipulated for in the policy. The policy so reduced shall thereafter be free from all liability for payment.

Policy loans are not available under this plan.

Grace Period:
A grace period of one month but not less than 30 days will be allowed for payment of yearly, half-yearly or quarterly premium and 15 days grace period for monthly (SSS) mode is allowed. The policy will lapse if the premium is not paid within a the given grace period. If death occurs within one year after the policy is lapsed under which the premium for 2 years have been paid then the claim amount will be paid after deducting the premium due payable till the date of death from the Sum Assured.

Revival / Reinstatement:
If the Policy lapses, it may be revived during the lifetime of the life assured, but within a period of 5 years from the date of first unpaid premium or before the date of last premium due date whichever is earlier, on submission of proof of continued insurability to the satisfaction of the Company and the payment of all the arrears of premium together with interest (compounding half yearly) at such rate as may be prevailing at the time of the revival.

Restrictions in case of death of life Assured
The policy shall be void if the policyholder commits suicide (whether sane or insane at the time) before the expiry of one year from the Date of Commencement of this policy except to the extent of a third party’s bonafide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the office to which premiums under this policy were paid last, atleast one calendar month prior to death.

Should the death of the life assured occur as a direct or indirect result of war declared or undeclared, warlike operations, civil war, revolution, riot, civil commotion, marital law, there shall be no payment whatsoever.

If the assured member dies by a violent act of the beneficiary, the later shall lose his rights to the sum assured, which shall nevertheless remain payable to the remaining beneficiaries as nominated by the Life Assured.

The policy may be assigned. A written notice of Assignment is to be submitted to the concerned office of the Insurer and got it registered.