npavan78
11-12-2008, 07:53 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.
Dread Disease Rider Personal Accident Benefit Rider
Age 20 – 50 Years (depending upon Term)
Benefits Incase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured.
Tenors Available: Pick-a-Term: Minimum 10 Years
Maximum 40 Years
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 10 Lacs
Benefit Features Gives an additional benefit upon diagnosis of any of the 10 diseases – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, Coma, Heart Valve Replacement/Repair
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly, Monthly Modes For each frequency, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.500
Quarterly 0.250
Monthly 0.083
Age 20 – 55 Years
Benefits The Personal Accident Benefit is a low cost additional benefit that is paid incase the insured’s death or total and permanent disability is caused by an accident.
Total and Permanent Disability means accidental injuries which, within 180 days from the happening of such accident and independently of all other causes, results in:
irrecoverable loss of entire sight in both eyes; or
amputation or loss of use, of both hands at or above the wrist; or
amputation or loss of use, of both feet at or above the ankles; or
amputation or loss of use, of one hand at or above the wrist and one foot at or above the ankle, such that the life insured becomes incapable of engaging in any gainful activity or carrying out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit.
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 40 Lacs
Benefit Features Includes benefit incase of accidental death or permanent and total disability
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For traditional policies, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.500
Quarterly 0.250
Monthly 0.083
Age 20 – 45 Years (Whole Life Par)
20 – 55 Years (All other plans)
Benefits The waiver of premium protects the life insured from the burden of paying the premiums on his insurance in case he/she gets totally disabled. “Total Disability” or “Totally Disabled” refers to the life insured becoming permanently and totally disabled as a result of injury or sickness and is thereby totally incapable of engaging in any gainful activity or carry out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit
Expiry Age 55 Years (Whole Life Par)
60 Years (All other plans)
Minimum Face Amount Linked to Base and relevant rider Premiums
Maximum Face Amount Subject to underwriting
Calculation of Modal Premiums, Semi Annual, Quarterly, Monthly Modes For the following frequencies multiply by the factor given below:
Annual 1.000
Semi Annual 0.500
Quarterly 0.250
Monthly 0.083
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.
Dread Disease Rider Personal Accident Benefit Rider
Age 20 – 50 Years (depending upon Term)
Benefits Incase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured.
Tenors Available: Pick-a-Term: Minimum 10 Years
Maximum 40 Years
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 10 Lacs
Benefit Features Gives an additional benefit upon diagnosis of any of the 10 diseases – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, Coma, Heart Valve Replacement/Repair
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly, Monthly Modes For each frequency, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.500
Quarterly 0.250
Monthly 0.083
Age 20 – 55 Years
Benefits The Personal Accident Benefit is a low cost additional benefit that is paid incase the insured’s death or total and permanent disability is caused by an accident.
Total and Permanent Disability means accidental injuries which, within 180 days from the happening of such accident and independently of all other causes, results in:
irrecoverable loss of entire sight in both eyes; or
amputation or loss of use, of both hands at or above the wrist; or
amputation or loss of use, of both feet at or above the ankles; or
amputation or loss of use, of one hand at or above the wrist and one foot at or above the ankle, such that the life insured becomes incapable of engaging in any gainful activity or carrying out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit.
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 40 Lacs
Benefit Features Includes benefit incase of accidental death or permanent and total disability
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For traditional policies, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.500
Quarterly 0.250
Monthly 0.083
Age 20 – 45 Years (Whole Life Par)
20 – 55 Years (All other plans)
Benefits The waiver of premium protects the life insured from the burden of paying the premiums on his insurance in case he/she gets totally disabled. “Total Disability” or “Totally Disabled” refers to the life insured becoming permanently and totally disabled as a result of injury or sickness and is thereby totally incapable of engaging in any gainful activity or carry out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit
Expiry Age 55 Years (Whole Life Par)
60 Years (All other plans)
Minimum Face Amount Linked to Base and relevant rider Premiums
Maximum Face Amount Subject to underwriting
Calculation of Modal Premiums, Semi Annual, Quarterly, Monthly Modes For the following frequencies multiply by the factor given below:
Annual 1.000
Semi Annual 0.500
Quarterly 0.250
Monthly 0.083
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.