– Following percentage of the Basic Sum Assured is payable if the policy is in force on dates of survival.
Duration of the policy(yrs)
after commencement |
15yr plan |
20yr plan |
| 3 |
10% |
10% |
| 6 |
15% |
10% |
| 9 |
20% |
15% |
| 12 |
25% |
15% |
| 15 |
40% |
15% |
| 18 |
- |
15% |
| 20 |
- |
30% |
- On maturity - The survival benefit at the end of policy term as per the above table along with vested bonuses and loyalty addition as may be declared if policy is inforce
- On unfortunate death – On death during the term of the policy, the basic sum assured along with vested bonuses would be paid, irrespective of the survival benefits already paid, provided policy is in force on the date of death.
For a policy of Sum assured of Rs. 1 lac at age of 30 yrs with a term of 15 years, the annual premium come to Rs. 8,885. We give below the benefit payable on survival, death and maturity:
| Year |
Age |
Survival Benefit Guaranteed |
Death Benefit |
| Guaranteed |
Non-guaranteed |
Total |
| at 6% |
at 10% |
at 6% |
at 10% |
| 1 |
30 |
- |
100,000 |
3,000 |
6,000 |
103,000 |
106,000 |
| 2 |
31 |
- |
100,000 |
6,000 |
12,000 |
106,000 |
112,000 |
| 3 |
32 |
10000 |
100,000 |
9,000 |
18,000 |
109,000 |
118,000 |
| 4 |
33 |
- |
100,000 |
12,000 |
24,000 |
112,000 |
124,000 |
| 5 |
34 |
- |
100,000 |
15,000 |
30,000 |
115,000 |
130,000 |
| 6 |
35 |
15000 |
100,000 |
18,000 |
36,000 |
118,000 |
136,000 |
| 7 |
36 |
- |
100,000 |
21,000 |
42,000 |
121,000 |
142,000 |
| 8 |
37 |
- |
100,000 |
24,000 |
48,000 |
124,000 |
148,000 |
| 9 |
38 |
20000 |
100,000 |
27,000 |
54,000 |
127,000 |
154,000 |
| 10 |
39 |
- |
100,000 |
30,000 |
60,000 |
130,000 |
160,000 |
| 11 |
40 |
- |
100,000 |
33,000 |
66,000 |
133,000 |
166,000 |
| 12 |
41 |
25000 |
100,000 |
36,000 |
72,000 |
136,000 |
172,000 |
| 13 |
42 |
- |
100,000 |
39,000 |
78,000 |
139,000 |
178,000 |
| 14 |
43 |
- |
100,000 |
42,000 |
84,000 |
142,000 |
184,000 |
| 15 |
44 |
40000 |
100,000 |
45,000 |
90,000 |
145,000 |
190,000 |
| |
|
at 6% |
at 10% |
| Maturity Benefit |
Guaranteed
(Survival payment) |
40,000 |
40,000 |
| |
Non-guaranteed
(Reversionary Bonus) |
45,000 |
90,000 |
| |
Total |
85,000 |
130,000 |
A loyalty addition as may be declared shall also be payable to in-force maturing policies. |
