Nivesh Plus (849)
Product Summary: Nivesh Plus (849) is a Single Premium, Unit Linked plan which offers insurance cum investment during the term of the policy. Policy holder can decide the fund in which the amount is invested based on his risk apetite.Basic sum assured can be choosen between 1.25 times of the premium and 10 times the premium. If sum assured opted is 10 times the premium, tax benefits on premium (80C )and section 10 (10D)
Premium Payment Mode: Single Premium
Term: (1) Basic Sum Assured 1.25 times premium: 10 to 25 years (2) Basic sum assured 10 times single premium (a) age up to 25 years:10 to 25 years (b) 26 to 30 years :10 to 20 years (c) 31 to 35 years : 10 years
Minimum Age at Entry: 90 days completed
Maximum Age at Entry: 70 years for option 1(Sum assured 1.25 times premium) and 35 years for option 2(10 times premium)
Maximum Cover Ceasing Age: 85 years for option 1 and 50 years for option 2
Minimum Sum Assured: 1,00,000
Maximum Sum Assured: No limit (Subject to other conditions)
Riders Available Accident death benefit
Accidental Death and Disability Benefit (ADDB): not available
On Death: Before commencement of risk: amount equal to fund value. After commencement of risk: Higher of Basic sum assured less partial withdrawals( in previous two years) or unit fund value.
On Survival: Unit fund value is paid on policy holder surviving the term of the policy.
Surrender Value: Fund value available at the date of surrender(if surrendered after the lock in period)
Loan: No loan facility available
Income Tax Benefit: Available only for option 2
Proposal Form Special proposal form applicable
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