1. Single Premium, Yearly, Half-Yearly, Quarterly, Monthly(direct debit and group billing only)
   
2. Short premiums shall not be accepted. If the premium is received in advance, the same shall be kept in deposit without benefit till adjusted.

1. If premiums for three years have not been paid and the installment premium is not paid within the grace period, the policy shall lapse. A lapsed policy can be revived within two years on payment of all arrears of premium and submission of proof of continued insurability to the satisfaction of the Company. However the Company reserves the right to accept or decline the revival of a lapsed policy. The revival of a lapsed policy shall take effect only after its approval is specifically communicated to the policyholder.
   
2. If premiums have already been paid for three years the risk under the policy continues for two years (revival period) subject to the condition that when the fund value reaches an amount equivalent to one full year’s premium, the contract shall be terminated by paying the surrender value. If policy is not revived within two years, the policyholder can not revive the policy subsequently and will be offered surrender value as applicable but can opt for continuance of risk which will be allowed till the balance in the fund reaches an amount equivalent to one full year’s premium when the contract shall be terminated by paying the surrender value.
   

What is the revival period and death benefit available during that period?
The revival period is two years from the date of first unpaid premium and death benefit during the period payable is as under:

1. If at least 3 years premiums have been paid-Maximum of sum assured reduced by partial withdrawals pertaining to base fund within two years immediately preceding the death of the life assured or the fund value plus top-up fund on the date of receipt of intimation of death in writing in the office of Sahara India Life Insurance Co. Ltd;
   
2. If premium for less than 3 years have been paid-Fund Value
   
   

Switching Option The policy holder has the option of switching his investments from one fund to another of his choice at any time during the life of the policy. Two free switches are allowed every policy year. Additional switches are allowed subject to at the rate of Rs 100/- per switch. The switching charges would be recovered by cancellation of units.

Method of Calculation of Net Asset Value:

The Unit Price (UP) of a fund will be set by dividing the Value of the assets in the fund at the valuation time (at the end of the day) by the number of units. For new business, units will be allocated depending on the price of the units using the closing NAV on the day of collection of cash/local cheque/DD, date of credit to our account in case of direct debit and day of realization in case of outstation cheque or policy issue whichever is later. For subsequent payments of premium if cash / local cheque / DD is received in the office of the company by 4:15 p.m., the closing NAV of the day on which premium is received would be applicable. In case premium by local cheque/ DD is received in the company after 4:15 p.m. closing NAV of the next business day shall be applicable. In case of outstation cheque/DD, closing NAV of the day of realization will be applicable. In case of direct debit ,closing NAV of the date of credit to our account will be applicable. For group billing the units will be allocated based on the NAV of the day on which premiums are accounted for under the policy.
The Net Asset Value (NAV) of each of the Funds will be computed at the end of the day (on daily basis). The NAV would be calculated on appropriation basis or expropriation basis depending on whether the company is purchasing or selling the assets in order to meet the day to day transactions of Unit allocations and Unit redemptions. The resulting price will be rounded to the nearest Rs 0.0001. NAV (Appropriation /Expropriation) would be calculated as under:


Net Asset Value(Apropriation price)= Market/Fair value of the fund's investments + Expenses incurred in the purchase of the assets + Value of any current assets + Any accrued income net of fund management charge - the value of any current liabilities less provisions/Number of existing units at the valuation date (before any new units are allocated)

Net Asset Value(Expropriation price) =Market/Fair value of the fund's investments - Expenses incurred in the sale of the assets + Value of any current assets + Any accrued income net of fund management charge - the value of any current liabilities less provisions/Number of existing units at the valuation date (before any units are redeemed)

Allocation to the Unit Fund:
The allocable amount as per the allocation rates given below will be invested in the policy fund.

Single premium: 97.5%

Regular Premium:

	Term 7-9	Term 10-15	Term 16-20
Year 1	85%	75%	70%
Year 2	95%	90%	90%
Year 3	95%	90%	90%
Year 4+	97%	95%	95%

Top-up: 98%


Charges under the Plan

1. Unallocated portion of the Premium - The difference between the total premium and the allocated premium
   
   
2. Administration fee - A monthly Administration Fee of Rs.25/- will be deducted by canceling appropriate number of Units at the beginning of the month at the prevailing unit value. Administration fee may be increased at the discretion of the company subject to maximum of Rs.40/- per month depending on the experience of the company and subject to approval of IRDA.
   
   
3. Fund management charge - There will be a charge, as mentioned in the chart below, which will accrue and will be charged to the fund on a daily basis from the Policyholder's Unit Account towards Fund management expenses. Thus, the value of the Units in the Fund would be calculated after taking into account the Fund Management Charge.

4. Mortality charge - The risk premium i.e. mortality charge is recovered by cancellation of appropriate number of units on monthly basis and depend on the amount of risk being the difference between the Sum Assured reduced by partial