Plan Features
Money Back PLAN (20 Year) - 920
Product Summary
20 Year money back plan is a limited payment, non - liked, with profit money back plan with survival benefit every 5 years from the inception of the plan. Premium payment period is 15 years only.
Premium Payment Mode :
Yearly, Half Yearly, Quarterly, Monthly(SSS and NACH)
Annuity Mode
-
Optional Benefits
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Term :
20 Year and premium payment period(PPT) 15 years.
Premium Paying Term :
-
Minimum Age at Entry :
13 Year completed
Maximum Age at Entry :
50 years (nearest birthday)
Annuity Options
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Minimum Purchase Price
-
Deferment Period
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Joint Annuity
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Maximum Cover Ceasing Age:
-
Maturity Age:
-
Sum Assured
-
Maturity Benefit
-
Death Benefit
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Minimum Basic Sum Assured :
-
Minimum age at the end of Premium Paying Term
-
Maximum Maturity Age :
70 Years
Minimum Premium:
-
Maximum Premium:
-
Minimum Basic Sum Assured :
-
Sum Assured on Death
-
Minimum Sum Assured :
1,00,000
Maximum Sum Assured :
No Limit (Subject to other conditions)
Guaranteed Additions
-
Survival Benefits
-
Riders Available
ADDB/AB, Critical Illness Rider, Term Rider.
Accidental Death and Disability benefit (ADDB) :
Not available up to 20 years or up to 70 years of age which ever is earlier.
Policy Benefits
On Death :
Sum Assured on Death + Vested Bonus + Final Addition Bonus(FAB) if any. Sum Assured on Death = Higher of 125% of Basic Sum Assured or 7 times of annualized premium. Death Benefit shall not be less than 105% of total premiums paid as on date of death.(Excluding taxes, extra premium and rider benefits)
On Survival :
20% of sum assured payable after 5th, 10th and 15th year of the policy.On Maturity:40% of Basic Sum Assured + Vested Bonus + FAB if any.
On detection of Early Stage Cancer
-
On detection of Major Stage Cancer
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Settlement Option :
-
Multiple Allowed
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Surrender Value :
Policy can be surrendered at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy.
Loan :
Loan can be availed at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy.
Income Tax Benefit :
Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act.
Proposal Form :
Form No 300 for major lives and Form No 360 for minor lives.