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Facility of Life Insurance
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Maximum age at maturity – 65 Years
Insurance Plan Type - Term Plan with Return of Premium Option (TROP).
Under this, Life Coverage is provided at low premium. In case of death (due to natural or accidental reasons), the life cover benefit is provided to the nominee. In case of survival after the
policy term (15 years), the total premiums paid (excluding GST) are refunded back to the insured person.
Premium Payment Mode - Annual
Premium Payment Term - 10 years
Total Coverage (Policy Term) - 15 years
Death benefit Options - Four Options :
1. INR 3300 per month for 10 years or INR 3 Lakh lumpsum
2. INR 5500 per month for 10 years or INR 5 Lakh lumpsum
3. INR 11000 per month for 10 years or INR 10 Lakh lumpsum
4. INR 16500 per month for 10 years or INR 15 Lakh lumpsum
Maturity Benefit - 100% of all premiums (excluding GST)
Sample Premium Table (for INR 11,000 monthly payout or INR 10 lac lumpsum in case of death)
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Age (in years)
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40
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45
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50
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Annual Premium (excl GST)
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Rs.18,390/-
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Rs.26,150/-
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Rs.36,970/-
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Annual Premium (incl GST)
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Rs.19,218/-
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Rs.27,327/-
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Rs.38,634/-
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Total premium paid in 10 years (excl GST)
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Rs.1,83,900/-
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Rs.2,61,500/-
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Rs.3,69,700/-
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Death Benefit (2 options)
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Monthly Income on death
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Rs.11,000/-
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Rs.11,000/-
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Rs.11,000/-
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Total payment under monthly income scheme (120 months)
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Rs. 13.20lac
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Rs. 13.20lac
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Rs. 13.20lac
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OR
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Total payment under lump sum option
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Rs. 10lac
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Rs. 10lac
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Rs. 10lac
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Maturity/Survival pay-out
(100% on survival to PT)
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Rs.1,83,900/-
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Rs.2,61,500/-
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Rs.3,69,700/-
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