SIIP (852)
Product Summary: SIIP (852) is a Regular 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 will be 10 times annual premium for age at entry less than 55 years. For age from 55 years 7 times annual premium is taken as sum assured.
Premium Payment Mode: Regular Premium(Yearly, Half Yearly, Quartery and monthly mode)
Term: 10 to 25 years
Minimum Age at Entry: 90 days completed
Maximum Age at Entry: 65 years
Maximum Cover Ceasing Age: 85 years for option 1 and 50 years for option 2
Minimum Sum Assured: Yearly - 40,000, Half Yearly - 22,000, Quarterly -12,000, Monthly -.4000
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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