New Endowment Plus (935)
Product Summary: New Endowment Plus (935) 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.
Premium Payment Mode: Regular Premium(Yearly, Half Yearly, Quartery and monthly mode)
Term: 10 to 20 years
Minimum Age at Entry: 90 days completed
Maximum Age at Entry: 50 years
Maximum Maturity Age: 60 Years
Minimum Sum Assured: Yearly - 20,000, Half Yearly - 13,000, Quarterly -8,000, Monthly -3000
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(10 times premium) 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 on premium paid u/s 80C and section 10(10D) on maturity benefit.
Proposal Form Special proposal form applicable
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