npavan78
10-09-2008, 09:48 AM
Ideally, once your protection and saving needs are met, consider an investment plan. The Powering Life Limited Payment Endowment Plan is one such offering. It lets you pay premiums during your key earning period while you enjoy a life cover for a long period and high maturity benefits.
What is it all about?
The Powering Life Plan is ideal because you get a life cover and your family enjoys long term financial security. And thanks to a high reversionary bonus*, your investment grows over time. You can even customise your coverage term and choose from a range of premium payment terms.
How do I benefit from this plan?
Survival benefits
A large lump sum payment to you when the policy matures.
A life cover that enhances rapidly with the addition of a reversionary bonus* each year.
A final additional bonus** at the end of the term.
Flexible life cover term.
Flexible premium payment options.
Death benefit
Your beneficiaries will receive the accumulated reversionary bonus
and final additional bonus** in addition to the sum assured.
Flexible Premium Payment
You can choose a life cover of 10, 15 or 20 years with a flexibility of choosing your premium payment term (subject to a maximum premium ceasing at 65 years)
Policy Term (years)
10
15
20
Premium Term Payment (years)
5 - 9
5 - 14
5 - 19
Features
Eligibility
Minimum entry age: 18 years
Maximum entry age: 60 years
Maximum maturity age: 70 years
Premium Payment Options:
Annual, half-yearly, quarterly or monthly
Minimum Premium Payable
Annual Rs. 24,000
Half-Yearly Rs. 12,000
Quarterly Rs. 6,000
Monthly Rs. 3,000
Benefits
Survival benefits
· A large lump sum payment to you when the policy matures.
. A life cover that enhances rapidly with the addition of a reversionary bonus* each year.
. A final additional bonus** at the end of the term.
. Flexible life-cover term.
. Flexible premium payment options.
Death Benefit
Your beneficiaries will receive the accumulated reversionary bonus and final additional bonus** in addition to the sum assured.
* Bonus are non-guaranteed and are based on the company's performance.
**Applicable if at least premiums for 15 years have been paid.
Additional Benefits
Rider Benefits
Increase your coverage at a nominal extra cost by opting for any of our riders -Term Rider, Accidental Death Rider, Accidental Death, Disability & Dismemberment Rider and Waiver of Premiums Rider.
Loan Benefit
After paying a premium for two years, you will be eligible for a loan.
Tax Benefits
Tax benefits under Section 88 and Section 10 (10D) are available on all our life insurance plans and riders.
Look-in Period
This is a 15-day period for you to go through the terms and conditions and decide upon taking or cancelling the policy.
# Exclusions to the policy are available separately
Section 41 of the Insurance Act, 1938 states:
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
2. Any person making default in complying with the provisions of this section shall be punishable with fine that may extend to five hundred rupees
What is it all about?
The Powering Life Plan is ideal because you get a life cover and your family enjoys long term financial security. And thanks to a high reversionary bonus*, your investment grows over time. You can even customise your coverage term and choose from a range of premium payment terms.
How do I benefit from this plan?
Survival benefits
A large lump sum payment to you when the policy matures.
A life cover that enhances rapidly with the addition of a reversionary bonus* each year.
A final additional bonus** at the end of the term.
Flexible life cover term.
Flexible premium payment options.
Death benefit
Your beneficiaries will receive the accumulated reversionary bonus
and final additional bonus** in addition to the sum assured.
Flexible Premium Payment
You can choose a life cover of 10, 15 or 20 years with a flexibility of choosing your premium payment term (subject to a maximum premium ceasing at 65 years)
Policy Term (years)
10
15
20
Premium Term Payment (years)
5 - 9
5 - 14
5 - 19
Features
Eligibility
Minimum entry age: 18 years
Maximum entry age: 60 years
Maximum maturity age: 70 years
Premium Payment Options:
Annual, half-yearly, quarterly or monthly
Minimum Premium Payable
Annual Rs. 24,000
Half-Yearly Rs. 12,000
Quarterly Rs. 6,000
Monthly Rs. 3,000
Benefits
Survival benefits
· A large lump sum payment to you when the policy matures.
. A life cover that enhances rapidly with the addition of a reversionary bonus* each year.
. A final additional bonus** at the end of the term.
. Flexible life-cover term.
. Flexible premium payment options.
Death Benefit
Your beneficiaries will receive the accumulated reversionary bonus and final additional bonus** in addition to the sum assured.
* Bonus are non-guaranteed and are based on the company's performance.
**Applicable if at least premiums for 15 years have been paid.
Additional Benefits
Rider Benefits
Increase your coverage at a nominal extra cost by opting for any of our riders -Term Rider, Accidental Death Rider, Accidental Death, Disability & Dismemberment Rider and Waiver of Premiums Rider.
Loan Benefit
After paying a premium for two years, you will be eligible for a loan.
Tax Benefits
Tax benefits under Section 88 and Section 10 (10D) are available on all our life insurance plans and riders.
Look-in Period
This is a 15-day period for you to go through the terms and conditions and decide upon taking or cancelling the policy.
# Exclusions to the policy are available separately
Section 41 of the Insurance Act, 1938 states:
1. No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the Policy, nor shall any person taking out or renewing or continuing a Policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.
2. Any person making default in complying with the provisions of this section shall be punishable with fine that may extend to five hundred rupees