Easy Bachat PlanNon-linked, Non-participating, Individual, Limited Premium Payment Endowment Life Insurance Plan

"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“Version : Oct’19

Key Benefits

Guaranteed benefits payable on maturity, provided all due premiums have been paid

Provides life cover for the entire term while premiums are paid only for a limited period

Hassle free purchase process with minimum requirements and no medical tests.

Flexibility to choose a payment term – aligned to premium payment capacity and horizon

Guaranteed Yearly Additions accruing at the end of Policy Year throughout the premium payment term, provided all due premiums have been paid

Option to choose from two plan options – Endowment and Money back

Tax Benefits* under Section 80C and Section 10(10D), as per the Income Tax Act, 1961 as amended from time to time

* Tax benefits under the policy will be as per the prevailing Income Tax laws and are subject to amendments from time to time. For tax related queries, please contact your independent tax advisor.

Plan Options

Endowment Option

Money Back Option

1

2

Boundary Conditions

Entry Age and Maturity Age

Entry Age

Minimum

18 years

Maximum

55 years

Age at Maturity

Minimum

28 years

Maximum

65 years

Policy Term and Premium Payment Term

10 years

15 years20 years

Policy Term options

Limited Pay - Premium Payment Term options

5 Pay

7 Pay

10 Pay

Premium Payment Mode

Annual

Half Yearly

Quarterly

Monthly

Minimum Installment Premium (Rs.)

5,000

5,100

2,600

1,000

Maximum Annualised Premium (Rs.)

90,000

Minimum and Maximum Premiums are exclusive of Goods and Services Tax & applicable cess (es)/levy, if any

Premium Modes and Premium Amount

Sum Assured

Minimum : ₹ 20,148

Maximum₹ 10,00,000

Depends on:• Plan Option• Minimum Annualised

Premium• Entry Age• Policy Term• Premium Payment term

Sum Assured

Guaranteed Yearly Additions

Premium Payment Term 5 Pay

7 Pay

10 Pay

Guaranteed Yearly Additions20 % 20 % 20 %

(% of one Annualised Premium)

• Available under all both the Plan Options• Accrue at the end of each Policy Year throughout Premium Payment Term, provided

all due premiums till the end of that Policy year have been paid• Guaranteed Yearly Addition will not be added post premium payment term

Guaranteed Sum Assured on Maturity

100% of Sum Assured

70% of Sum Assured

• Sum Assured = Basic Sum Assured + Applicable Boosters, if any• Basic Sum Assured = Annualized Premium X Basic Sum Assured Factor

Survival BenefitApplicable only on Money Back option

Policy Term (years) 10 15 20

Premium Payment Term (years)

5 7 10

Survival Benefit(at the end of premium

payment term)30 % of Sum Assured

• Survival benefit is one-time benefit equal to 30% of Sum Assured • Paid upon survival of Life Assured to the end of Premium Payment Term provided the

policy is in-force and all due premiums are paid

Maturity Benefit

Guaranteed Sum Assured on Maturity*

Accrued Guaranteed Yearly Additions

A

B

*For Money Back Option : Guaranteed Sum Assured on Maturity is equal to 70% of Sum Assured

Death Benefit

Sum Assured on Death,

Higher of

11 x Annualized Premium

105% of all the Premiums paid till

death

Guaranteed Sum Assured on Maturity

Absolute Assured Amount to be paid

on death

Sum Assured on DeathCalculation

Higher Sum Assured

• Absolute amount assured to be paid on death of the Life Assured = Sum Assured• Guaranteed Sum Assured on Maturity = 100% of SA (Endowment Option) OR

70% of SA (Money Back Option)

Death Benefit

Sum Assured on Death

Accrued Guaranteed Yearly Additions

A

B

• Death Benefit in Money Back option will not be reduced by survival benefit paid out during the policy term, provided the policy is in-force

Death Benefit during first 90 days from risk commencement date

Death Benefit after Waiting Period

• Waiting Period: 90 days from the risk commencement date• Applicable for both options : Endowment & Money Back• Waiting period is not applicable on revival of policy• There is no additional death benefit payable on accidental death i.e.

Death Benefit is same irrespective of death happened due to an accident or other than accident except the applicability of waiting period

Death BenefitWaiting Period Condition

Refund of total premium paid(including modal loading but excluding GST* & applicable cess(es)/levy, if any)

100% of Sum Assured of DeathNon –

accidental death

100% of Sum Assured on Death

Accidental death

* Goods & Service Tax

Tax Benefit

Survival, Maturity and death benefits received

Eligible for tax benefits* u/s 10 10(D) of Income Tax act

Premiums paidEligible for tax benefits* u/s

80C of Income Tax act

*Consult your tax advisor for tax laws applicable in your case

Policy Conditions

• Available after the policy acquires surrender value

• Min. Loan amount : Rs. 5,000

• Max. Loan Amount : 80% of the Surrender Value

• Min. Repayment amount : lowest of Rs. 500 or Outstanding Loan Amount

• Max. Repayment amount : Outstanding Loan Amount

• Loan available only on in-force policies

• No loan facility on paid-up policies

Loan

Any benefit (i.e. Death / Surrender / Survival / Maturity benefit) payable under the Policy shall be reduced by the outstanding loan amount including outstanding interest

Discontinuance of PremiumPremium Payment Term of 5, 7 & 10 years

Conditions Description

Discontinuance before paying first 2 policy years full premiums (Policy has not acquired paid-up value)

• Life cover lapses after grace period • No further benefit payable upon death or termination or on

expiry of revival period

Discontinuance after paying first 2 policy years full premiums (Policy has acquired paid-up value)

• Acquires Paid-up value after grace period and continues atpaid-up value

• Continues with reduced benefit till maturity or death,whichever is earlier

• Surrender request can be accepted and Surrender Value paidimmediately (as per SV factor)

Revival

Revive Policy within revival period of 5 years from due date of first unpaid premium

All past due premiums need to be paid along with applicable interest rate as defined by the Company from time to time (from respective premium due dates till the revival date)

Evidence of insurability and health of the Life Assured is to be provided

Company reserves the right to revive the Policy either on its original terms or on modified terms as per our board approved Underwriting policy

Post revival of policy, product benefits would be reinstated to full level (including Guaranteed Yearly Addition(s), if any, which were not accrued during revival period)

Paid up Value and Surrender Value

Paid-up Value

• Policy acquires Paid-up Value after payment at least 2 full years premiums

For all Premium Payment Terms (5, 7 & 10 years)

• Applicable in the event of death, maturity or survival• Guaranteed Yearly Addition(s) will stop accruing once the Policy becomes Paid-up.

Paid-up Sum Assured on Death

𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

𝑇𝑜𝑡𝑎𝑙 𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑦𝑎𝑏𝑙𝑒 𝑑𝑢𝑟𝑖𝑛𝑔 𝑝𝑜𝑙𝑖𝑐𝑦 𝑡𝑒𝑟𝑚× 𝑆𝑢𝑚 𝐴𝑠𝑠𝑢𝑟𝑒𝑑 𝑜𝑛 𝐷𝑒𝑎𝑡ℎ

Paid-up ValueCalculation of Reduced Benefits

Paid-up Sum Assured on Maturity

𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

𝑇𝑜𝑡𝑎𝑙 𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑦𝑎𝑏𝑙𝑒 𝑑𝑢𝑟𝑖𝑛𝑔 𝑝𝑜𝑙𝑖𝑐𝑦 𝑡𝑒𝑟𝑚× 𝐺𝑢𝑎𝑟𝑎𝑛𝑡𝑒𝑒𝑑 𝑆𝑢𝑚 𝐴𝑠𝑠𝑢𝑟𝑒𝑑 𝑜𝑛 𝑀𝑎𝑡𝑢𝑟𝑖𝑡𝑦

Paid-up Sum Assured𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

𝑇𝑜𝑡𝑎𝑙 𝑁𝑜. 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑦𝑎𝑏𝑙𝑒 𝑑𝑢𝑟𝑖𝑛𝑔 𝑝𝑜𝑙𝑖𝑐𝑦 𝑡𝑒𝑟𝑚× 𝑆𝑢𝑚 𝐴𝑠𝑠𝑢𝑟𝑒𝑑

Paid-up ValueSurvival Benefit - Money Back option

Premium Payment Term (years)

5 7 10

Survival Benefit(at the end of premium

payment term)30% of Paid-up Sum Assured

• Survival benefit is one-time benefit equal to 30% of Sum Assured • Paid upon survival of Life Assured to the end of Premium Payment Term

Paid-up Sum Assured on Maturity

Accrued Guaranteed Yearly Additions , if any*

A

B

Paid-up ValueMaturity Benefit – Both plan options

*Guaranteed Yearly Additions will not accrue once the Policy acquires Paid-up State

Paid-up Sum Assured on Death

Accrued Guaranteed Yearly Additions , if any*

A

B

Paid-up ValueDeath Benefit – Both plan options

*Guaranteed Yearly Additions will not accrue once the Policy acquires Paid-up State

SurrenderGuaranteed Surrender Value (GSV)

• Policy acquires Guaranteed Surrender Value after payment at least 2 full years premiums

For all Premium Payment Terms (5, 7 & 10 years)

Guaranteed Surrender ValueGSV Factor A (As percentage of Total

Premiums Paid)Policy Term 10 15 20

Premium Payment Term

5 7 10

Policy year1 0% 0% 0%2 30% 30% 30%3 35% 35% 35%4 50% 50% 50%5 58% 54% 53%6 66% 58% 55%7 74% 62% 58%8 82% 66% 61%9 90% 70% 63%

10 90% 74% 66%11 78% 69%12 82% 71%13 86% 74%14 90% 77%15 90% 79%16 82%17 85%18 87%19 90%20 90%

GSV Factor B (As percentage of Accrued Guaranteed Additions)

Policy Term 10 15 20Premium

Payment Term5 7 10

Policy year1 0.0% 0.0% 0.0%2 24.0% 12.0% 6.0%3 28.0% 14.0% 6.0%4 32.0% 16.0% 8.0%5 32.5% 16.5% 8.5%6 33.0% 17.0% 9.0%7 33.5% 17.5% 9.5%8 34.0% 18.0% 10.0%9 34.5% 18.5% 10.5%

10 35.0% 19.0% 11.0%11 19.5% 11.5%12 20.0% 12.0%13 20.5% 12.5%14 21.0% 13.0%15 21.5% 13.5%16 14.0%17 14.5%18 15.0%19 15.5%20 16.0%

GSV is equal to:• A * Total Premiums Paid

plus • B * Accrued Guaranteed

Additions, as applicable lessSurvival Benefits Paid, if any

Factors A and B are given in the table

SurrenderGuaranteed Surrender Value (GSV) & Special Surrender Value (SSV)

• A*(Total Premiums Paid excluding UW extra premium, if any)

Plus• B*(Accrued Guaranteed

Yearly Additions)Less

• Survival Benefits paid, if any

• Determined by Company

• May be revised in future with prior approval of Authority

A is GSV Factor (As percentage of Total Premiums Paid, excluding extra premium, if any)B is GSV Factor (As percentage of Accrued Guaranteed Yearly Additions, if any)For the details on Guaranteed Surrender Value percentages (Factors), please refer to the sample Policy Contract available on Company's website.

Surrender Value

Higher ofGuaranteed Surrender

ValueSpecial Surrender ValueOR

Exclusions

• Within 12 months from the date of commence of risk of Policy, Nominee shall be entitled to at least 80% of the total premiums paid, till the date of death or surrender value available as on the date of death whichever is higher, provided the Policy was in-force

• Within 12 months from the Revival date of the Policy, the Nominee shall be entitled to an amount which is higher of 80% of the total premiums paid till the date of death or the surrender value as available on the date of death

Suicide

• In case of death of the Life Assured (other than due to Accident) during the Waiting Period, while the Policy is in-force, company will return the Total Premium Paid till the date of death

• Waiting period is not applicable in case of Accidental Death

90 days waiting period

Sample Benefit Illustration of Endowment & Moneyback options

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Endowment OptionSample Benefit Illustration – Maturity Benefit

Guaranteed Yearly Additions20% of AP#

Policy TermPremium

Payment Term

10 Yrs 30,000

Annualised Premium#

20 Yrs

Age

40 Yrs

# Annualised Premium is exclusive of GST

Sum Assured on Death

5,25,561

5,25,561Guaranteed Sum Assured on

Maturity

Premiums are paid only for limited period

Guaranteed yearly additions every year through out the premium payment term

60,000

5,85,561Guaranteed Maturity Benefit

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Moneyback OptionSample Benefit Illustration – Survival & Maturity Benefit

Guaranteed Yearly Additions20% of AP#

Policy TermPremium

Payment Term

10 Yrs 30,000

Annualised Premium#

20 Yrs

Age

40 Yrs

# Annualised Premium is exclusive of GST

Sum Assured on Death

4,47,747

3,13,423Guaranteed Sum Assured on

Maturity

Customer pays premium only for limited period

Guaranteed yearly additions every year through out the premium payment term

60,000

3,73,423

Guaranteed Moneyback 1,34,324

Guaranteed Maturity Benefit

Thank you

"This is the authorized presentation and should not be altered without the permission of the Insurance Company.“Version : Oct’19