npavan78
11-09-2008, 10:33 AM
An undying money plant for your ever growing needs.
Life Invest™ Plan is designed keeping in mind that different individuals have different needs, which change over time. We build many dreams and aspirations and long to see they come true. To realize those dreams, your need for protection, investment, and financial liquidity keeps changing at different stages of life. When you reach a certain stage in life, you need your money to grow and see new heights. This plan helps you meet all your investment and insurance needs and gives you an opportunity to invest your money where it grows much faster than your expenses.
This policy will provides you comprehensive protection from 3 Ds i.e. Death, Disease and Disability. Apart from loyalty units and tax benefits, the maturity feature of this policy will also pay you the fund value. Flexible Investment with choice of four attractive fund options, lump sum investment in your plans through top ups as per your cash flow, increasing death benefits, flexibility to choose premium payment terms are few of the benefits you can enjoy through this policy.
Flexible Investment with choice of four attractive fund options
Invest a big amount in your plan through top ups as per your cash flow
Guaranteed free units in the form of loyalty units
Choice of level or increasing death benefit
Liquidity through partial and full surrenders after three years
Flexibility to choose premium payment term as per your cash flow
Eligibility Criteria
Criteria Eligibility
Entry Age (age as at last birthday) Any age between 91 days to 70 years (maximum issue age is 50 years with DD rider and 55 years with PAB rider)
Policy term (in whole years) 5 years to 75 years (For regular pay policies minimum tenure must be more than 10 years)
Maximum Maturity Age 75 years on last birthday
Minimum Sum Assured Single Pay: Rs. 62,500 Other payment options: Rs. 250,000
Minimum Annual Target Premium (for regular and limited pay) Rs. 50,000 per annum
Minimum Single premium Rs. 50,000
Maturity Benefit
At maturity value , we will pay you the fund value.
In addition to this :
This plan also offers you the Settlement Option on maturity, where your policy will continue for a period not exceeding five years, but the insurance cover will terminate on maturity.
Persistency Units - on paying regular premiums, we will allocate Persistency Units to your unit account on the 9th policy anniversary and on every 3rd policy anniversary thereafter provided your policy is in-force at that anniversary
Death Benefit
Increasing Death benefit - Sum of fund value and sum assured of the policy on death
Level Death benefit - Higher of the Sum Assured or the fund value of the policy on death
However, if the Life Insured dies before attaining age 10 years, we will only pay the fund value of the policy.
The plan provides you additional protection against disability and disease through riders. The following riders are available
Personal Accident Benefit (PAB) Rider: This rider provides a lump-sum amount if you die by accident or are involved in an accident, which results in Total and Permanent Disability.
Dread Disease (DD) Rider: This rider provides a lump-sum amount on you being diagnosed with any of the ten dreaded diseases covered or your undergoing the surgery covered.
You have the flexibility to direct your investments in any one or more of the following four unit linked investment funds of the Company: SECURE, CONSERVATIVE, BALANCED and GROWTH. These funds invest in Fixed Income and equity assets as follows : Select any one or all of the mentioned funds
Fund Secure Fund Conservative Fund Balanced Fund Growth Fund
Investment Type
Government Securities 50-100% 50 - 80% 20 - 50% 0 - 30%
Corporate Bonds 0-50% 0 - 50% 20 - 40% 0 - 30%
Money Market Instruments / Cash 0-20% 0 - 20% 0 - 20% 0 - 20%
Equities NIL 0 - 15% 10 - 40% 20 - 70%
Flexibilities
Switching: We provide you this facility to change the investment pattern by moving from one fund to other fund(s) amongst the funds offered under this contract. Every policy year, we offer you six free switches.
Premium Re-Direction: This is the facility that allows you to modify the allocation of premiums into an investment pattern that is different from the existing pattern. Every policy year we offer you three free redirections.
Partial Withdrawal: If you wish to withdraw a part of your fund, you can make partial withdrawals up to 20% of surrender value in case of level death benefit or 50% of surrender value in case of increasing death benefit in any policy year by cancellation of units from your unit account. Partial withdrawals are allowed only after three policy years.
Surrenders: In case of unforeseen needs ensures easy liquidity to you by accessing your fund through surrender benefit. However, the policy will only have a surrender value after you have paid premiums equivalent to two years ATP.
Life Invest™ Plan is designed keeping in mind that different individuals have different needs, which change over time. We build many dreams and aspirations and long to see they come true. To realize those dreams, your need for protection, investment, and financial liquidity keeps changing at different stages of life. When you reach a certain stage in life, you need your money to grow and see new heights. This plan helps you meet all your investment and insurance needs and gives you an opportunity to invest your money where it grows much faster than your expenses.
This policy will provides you comprehensive protection from 3 Ds i.e. Death, Disease and Disability. Apart from loyalty units and tax benefits, the maturity feature of this policy will also pay you the fund value. Flexible Investment with choice of four attractive fund options, lump sum investment in your plans through top ups as per your cash flow, increasing death benefits, flexibility to choose premium payment terms are few of the benefits you can enjoy through this policy.
Flexible Investment with choice of four attractive fund options
Invest a big amount in your plan through top ups as per your cash flow
Guaranteed free units in the form of loyalty units
Choice of level or increasing death benefit
Liquidity through partial and full surrenders after three years
Flexibility to choose premium payment term as per your cash flow
Eligibility Criteria
Criteria Eligibility
Entry Age (age as at last birthday) Any age between 91 days to 70 years (maximum issue age is 50 years with DD rider and 55 years with PAB rider)
Policy term (in whole years) 5 years to 75 years (For regular pay policies minimum tenure must be more than 10 years)
Maximum Maturity Age 75 years on last birthday
Minimum Sum Assured Single Pay: Rs. 62,500 Other payment options: Rs. 250,000
Minimum Annual Target Premium (for regular and limited pay) Rs. 50,000 per annum
Minimum Single premium Rs. 50,000
Maturity Benefit
At maturity value , we will pay you the fund value.
In addition to this :
This plan also offers you the Settlement Option on maturity, where your policy will continue for a period not exceeding five years, but the insurance cover will terminate on maturity.
Persistency Units - on paying regular premiums, we will allocate Persistency Units to your unit account on the 9th policy anniversary and on every 3rd policy anniversary thereafter provided your policy is in-force at that anniversary
Death Benefit
Increasing Death benefit - Sum of fund value and sum assured of the policy on death
Level Death benefit - Higher of the Sum Assured or the fund value of the policy on death
However, if the Life Insured dies before attaining age 10 years, we will only pay the fund value of the policy.
The plan provides you additional protection against disability and disease through riders. The following riders are available
Personal Accident Benefit (PAB) Rider: This rider provides a lump-sum amount if you die by accident or are involved in an accident, which results in Total and Permanent Disability.
Dread Disease (DD) Rider: This rider provides a lump-sum amount on you being diagnosed with any of the ten dreaded diseases covered or your undergoing the surgery covered.
You have the flexibility to direct your investments in any one or more of the following four unit linked investment funds of the Company: SECURE, CONSERVATIVE, BALANCED and GROWTH. These funds invest in Fixed Income and equity assets as follows : Select any one or all of the mentioned funds
Fund Secure Fund Conservative Fund Balanced Fund Growth Fund
Investment Type
Government Securities 50-100% 50 - 80% 20 - 50% 0 - 30%
Corporate Bonds 0-50% 0 - 50% 20 - 40% 0 - 30%
Money Market Instruments / Cash 0-20% 0 - 20% 0 - 20% 0 - 20%
Equities NIL 0 - 15% 10 - 40% 20 - 70%
Flexibilities
Switching: We provide you this facility to change the investment pattern by moving from one fund to other fund(s) amongst the funds offered under this contract. Every policy year, we offer you six free switches.
Premium Re-Direction: This is the facility that allows you to modify the allocation of premiums into an investment pattern that is different from the existing pattern. Every policy year we offer you three free redirections.
Partial Withdrawal: If you wish to withdraw a part of your fund, you can make partial withdrawals up to 20% of surrender value in case of level death benefit or 50% of surrender value in case of increasing death benefit in any policy year by cancellation of units from your unit account. Partial withdrawals are allowed only after three policy years.
Surrenders: In case of unforeseen needs ensures easy liquidity to you by accessing your fund through surrender benefit. However, the policy will only have a surrender value after you have paid premiums equivalent to two years ATP.