Guaranteed Income Plan

The benefits under the plan vary as per the plan option chosen.

The definitions below will help you understand better, the benefits of the plan:

• 11 times the Annualized Premium, or
• 105% of Total Premiums Paid as on date of death, or
• Guaranteed Sum Assured Maturity, which is equal to Sum Assured, or
• Absolute amount assured to be paid on death, which is also equal to Sum Assured

*The above Sum Assured on Death definition is applicable for Guaranteed Cashback Option (Plan Option 1), Guaranteed Cashback with Premium Protection Option (Plan Option 2) and Guaranteed Income Advantage Option (Plan Option 3).

• For Death Cover Option A under Guaranteed Single Pay Advantage Option (Plan Option 4)
  Sum Assured on Death is the amount which is higher of:-
  • 10 times the Single Premium, or
  • Guaranteed Sum Assured on Maturity, which is equal to Sum Assured, or
  • Absolute amount assured to be paid on death, which is also equal to Sum Assured
• For Death Cover Option B under Guaranteed Single Pay Advantage Option (Plan Option 4)
  Sum Assured on Death is the amount which is higher of:-
  • 1.25 times of Single Premium, or
  • Guaranteed Sum Assured on Maturity, which is equal to Sum Assured, or
  • Absolute amount assured to be paid on death, which is also equal to Sum Assured

Guaranteed Cashback Option (Plan Option 1) & Guaranteed Cashback with Premium Protection Option (Plan Option 2)

You will receive the Guaranteed Annual Cashback at the end of each of the last 4 policy years before the maturity year provided that all due premiums are paid.

On survival till the policy term (provided that all due premiums are paid), you will receive

• Guaranteed Sum Assured on Maturity, plus
• Guaranteed Yearly Addition(s), plus
• Guaranteed Loyalty Addition

On payment of above benefits, your policy will terminate and no further benefit will be payable.

Death Benefit under Guaranteed Cashback Option (Plan Option 1)

In case of the Life Assured's unfortunate death during the policy term, provided the policy is in-force, the death benefit payable to your Nominee/ Legal Heir as the case may be will be as follows:

• Sum Assured on Death, plus
• Cumulative Guaranteed Yearly Addition(s) added, as on date of death

On payment of above benefits, the policy will terminate and no further benefit will be payable. The survival benefit (Guaranteed Annual Cashback) already paid will not be deducted from the benefit payable on death.

Death Benefit under Guaranteed Cashback with Premium Protection Option (Plan Option 2)

In case of the Life Assured's unfortunate death during the policy term, provided all due premiums have been paid, Sum Assured on Death will be payable. Further, the policy will continue till maturity with all future benefits accruing as if the policy was in-force, the death benefit payable to your Nominee/ Legal Heir as the case may be will be as follows:

• Sum Assured on Death is payable immediately plus
• All future premiums (if any) are not payable and the policy shall continue to be in force for the remaining policy term. The policy will also continue to accrue Guaranteed Yearly Addition(s).
• All Guaranteed Annual Cashback as scheduled will continue to be payable at the end of each of the last 4 policy years before the maturity year.
• On maturity - Guaranteed Sum Assured on Maturity plus Guaranteed Yearly Addition (s) plus Guaranteed Loyalty Addition.

On payment of above benefits, the policy will terminate and no further benefit will be payable. The survival benefit (Guaranteed Annual Cashback) already paid will not be deducted from the benefit payable on death.

Guaranteed Income Advantage (Plan Option 3)

You will receive the Guaranteed Annual Income at the end of each of the policy years after the completion of premium payment term till Maturity.

On survival till the end of policy term (provided that all due premiums are paid), you will receive Guaranteed Sum Assured on Maturity.

On payment of above benefits, your policy will terminate and no further benefit will be payable.

In case of the Life Assured's unfortunate death during the policy term, provided the policy is in-force, the death benefit payable to your Nominee/ Legal Heir as the case may be will be Sum Assured on Death.

On payment of above benefit, the policy will terminate and no further benefit will be payable. The survival benefit (Guaranteed Annual Income) already paid will not be deducted from the benefit payable on death.

Guaranteed Single Pay Advantage (Plan Option 4)

On survival till the policy term, you will receive

• Guaranteed Sum Assured on Maturity, plus
• Guaranteed Loyalty Addition

On payment of above benefits, your policy will terminate and no further benefit will be payable

In case of the Life Assured's unfortunate death during the policy term, provided the policy is in-force, the death benefit payable to your Nominee/ Legal Heir as the case may be will be Sum Assured on Death.
On payment of above benefit, the policy will terminate and no further benefit will be payable.