Life and General Insurance

 

Unit plans are investment plans for those who realise the worth of hard-earned money. These plans help you see your savings yield rich benefits and help you save tax even if you don't have consistent income.

 

In this policy, the investment risk in investment portfolio is borne by the policyholder. The linked insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender/ withdraw the monies invested in linked insurance products completely or partially till the end of fifth year.

 

A unit linked non-participating endowment assurance plan which offers investment cum insurance cover during the term of the policy. This plan is specially designed for you to provide a very good combination of protection and long term savings.

 

You have a choice of investing premiums in one of the four types of investment funds available. Premiums paid after deduction of premium allocation charge will purchase units of the fund type chosen. The unit fund is subject to various charges and value of units may increase or decrease, depending on net asset value (NAV).

 

Investment plans help beat inflation and build a large corpus. We help you investment plans offered by all life insurance companies in India and select the best suited investment plan for you. An investment plan should be selected keeping in mind 3 main goals:

 

• Risk profile-if you are a young customer and are willing to take financial risks, a ulip is better suited for you while if you’re a conservative investor, then a traditional endowment or money-back plan will suite your needs.

• Investment tenure – insurance plans offer a mid-to-long term investment horizon. Unit linked insurance plans or ulips are very good long term instruments.

• Final goal – you want to build the corpus for retirement or child’s education?

 

 Benefits:

 

  1. Death Benefit: On death of the Life Assured before the stipulated Date of Maturity provided policy is in force, then

 

On death before the Date of Commencement of Risk:An amount equal to the Policyholder's Fund Value shall be payable.

 

 On death after the Date of Commencement of Risk: An amount equal to the higher of Basic Sum Assured or Policyholder's Fund Value shall be payable. Where, Basic Sum Assured is (10 * Annualized Premium) or (105% of the total premiums paid), whichever is higher.

 

 2. Maturity Benefit:

 

On Life Assured surviving the date of maturity provided the policy is in force, an amount equal to Policyholder's Fund Value shall be payable.

 

3. Optional Benefits: The policyholder has an option of availing  Linked Accidental Death Benefit Rider.