life time premier from icici prudential life insurance
DESCRIPTION
various ulip plans provided by 10 top companies in indiaTRANSCRIPT
Life Time Premier from ICICI Prudential Life Insurance
ICICI Prudential Life Time Premier is a unit linked insurance plan (ULIP) with Double Benefits, such that if the Life
Insured dies within the policy tenure, the nominee would receive the Sum Assured as well as the Fund Value as
Death Benefit.
Key Features of ICICI Pru Life Time Premier
Double benefit ULIP – sum assured on death and fund value on maturity to nominee
Loyalty Units are added to the fund every five years, starting from the 10th policy year
Option to increase or decrease the Sum Assured anytime during the Policy Term
Choice of 8 Investment Funds and 2 Portfolio Strategies
Option of Automatic Transfer Strategy using which one can systematically invest in the equity funds
Benefits you get from ICICI Pru Life Time Premier
Death Benefit – In case of death of the Life Insured, the nominee would get Sum Assured plus Fund Value subject to
Minimum Death Benefit
Maturity Benefit – On maturity, the Fund Value is paid to the policyholder according to the investment option
chosen.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable
income each year under section 80C
Eligibility conditions and other restrictions in ICICI Pru Life Time Premier
Minimum Maximum
Sum Assured (in Rs.)
For age <=45 years, SA =
Higher of (10 × AP) and (0.5 ×
PT × AP)
For age > 45 years,
SA= Higher of (7 × AP) and
(0.25 × PT × AP)
According to maximum
Sum Assured multiple.
Policy Term (in years) 10 years 30 years
Premium Payment Term (in years) 5 years Equal to Policy Term
Entry Age of Policyholder 7 years 65 years
Age at Maturity 18 years 75 years
Regular Pay premium (in Rs.) Rs 18,000 p.a. No Limit
Limited Pay premium (in Rs.) Rs 50,000 p.a. No Limit
Payment modes Only Yearly
Sample illustration of premium amount in ICICI Pru Life Time Premier
Premium = Rs.50,000
Age = 30 years
Policy Term = 10 years and 15 years
Premium Paying Term = Regular Pay
Sum Assured = Rs 5,00,000
Total Investment = Rs. 50,000 x 10 years = Rs. 5,00,000 and Rs 50,000 x 15 years = Rs 7,50,000
Additional Features and Benefits of ICICI Pru Life Time Premier
Riders – There are no riders available in this policy
Investment Fund Options
There are 8 Investment Funds available
1. Opportunities Fund
2. Multi Cap Growth Fund
3. Bluechip Fund
4. Multi Cap Balanced Fund
5. Income Fund
6. Money Market Fund
7. Return Guarantee Fund
8. Dynamic P/E Fund
And 2 Portfolio Strategies available
1. Fixed Portfolio Strategy
2. Trigger Portfolio Strategy
Top-up - The minimum and maximum amount for Top-up is Rs 2,000 and sum assured automatically increases
either by 125% or 500% of the top up premium amount. Top Up can be done anytime except during the last 5 years of the
Policy Term and each Top-up Premium also has a Lock In Period of 5 years.
Switching - The minimum amount that you can switch is Rs 10,000. First 6 switches are free. Switching from a non-
guaranteed NAV Option to Guaranteed NAV Option is not allowed.
Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years. One Partial Withdrawal
is allowed in each policy year up to a maximum of 20% of the existing Fund Value. The partial withdrawals are free of
cost but the minimum is Rs 2,000
What happens if?
You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover
will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.
The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this
will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the
accumulated fund value will be payable to the nominee.
You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the
accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will
terminate immediately.
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,
then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the
Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.
and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured
during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and
your fund value shall be paid immediately and the policy would be terminated.
You want a loan against your policy - There is no loan available under this plan.
Alternate ULIPs from different insurance companies
AEGON Religare iMaximize Plan
Aviva Sachin Extra Cover Advantage
Bajaj Allianz iGain 3
Other ULIPs from ICICI Prudential Life Insurance
ICICI Prudential Elite Wealth
ICICI Prudential Pinnacle Super
ICICI Prudential Wealth Plus
ICICI Pru LifeStage Wealth II
ICICI Pru LifeLink Wealth SP
Key features
Flexible premium payment options
Loyalty additions paid every 5 years from 10th policy year
Flexibility to invest surplus money over and above your regular premiums
Tax benefits as per prevailing tax laws
LIC Endowment Plus Policy
LIC Endowment Plus is a unit linked insurance plan (ULIP), where the
risk of investment is borne by the policyholder. If the Life Insured dies
within the policy tenure, the nominee would receive the Sum Assured or
the Fund Value, whichever is higher.
Key Features of LIC Endowment Plus
Unit linked insurance plan with choice of 4 investment funds
Higher of Sum Assured or Fund Value will be paid as Death Benefit
Choice of two riders is Accidental Death Benefit and Critical Illness Benefit cover
Option to decrease the Sum Assured during the policy tenure
Benefits you get from LIC Endowment Plus
Death Benefit - In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever
is higher.
Maturity Benefit - On maturity, the policy fund value is paid to the policyholder.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable
income each year under section 80C
Eligibility conditions and other restrictions in LIC Endowment Plus
Minimum Maximum
Sum Assured (in Rs.)
Regular Premium
(Policy Term +1) x Annual
premium30 x Annualized premium
Sum Assured (in Rs.)
Single Premium1.25 x Single premium 5 x Single Premium
Policy Term (in years) 10 20
Premium Payment Term (in years) Single Equal to Policy Term
Entry Age of Policyholder (in years) 7 60
Age at Maturity (in years) 18 70
Single Premium (in Rs.) 30,000 No Limit
Payment modes Yearly, half-yearly, quarterly or monthly (ECS only)
Sample illustration of premium amount in LIC Endowment Plus
Premium = Rs.20,000
Age = 20 years
Sum Assured = Rs.420000
Policy Term = 20 years
PPT = Regular Pay
Total Investment = Rs 20,000 x 20 years = Rs 4,00,000
Additional Features and Benefits of LIC Endowment Plus
Riders – There are 2 riders available in this policy
1. Accidental Death Benefit rider
2. Critical Illness Benefit rider
Investment Fund Options
There are 4 Investment Funds available
1. Bond Fund
2. Secured Fund
3. Balanced Fund
4. Growth Fund
Top-up
NA
Switching
You can switch between the four fund types for the entire Fund Value during the policy term subject to switching
charges, if any.
Partial Withdrawal
Partial withdrawals are allowed only after completion of 5 policy years or the life insured’s age is at least 18 years,
whichever is later. Partial withdrawal will be allowed subject to at least 2 year’s premiums should remain in the
Policyholder’s Fund Value in case of regular premium policies and 25% of the single premium paid in case of single
premium policies.
What happens if?
You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover
will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.
The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this
will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the
accumulated fund value will be payable to the nominee.
You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the
accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will
terminate immediately.
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,
then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the
Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.
and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured
during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and
your fund value shall be paid immediately and the policy would be terminated.
You want a loan against your policy - There is loan available under this plan under terms and conditions.
Alternate ULIPs from different insurance companies
ICICI Pru Pinnacle Super
India First Smart Save Plan
Aviva LifeSaver Advantage
Other ULIPs from Life Insurance Corporation of India
LIC Flexi Plus Plan
Key features
Offers investment cum insurance cover during the term of the policy
Option to invest in 4 fund options
Higher of Sum Assured and the Policyholder’s Fund Value shall be available as death benefit
Choice of 2 additional riders
Tata AIA Life Lakshya Supreme Plan
Tata AIA Life Lakshya Supreme is a simple unit linked insurance plan (ULIP), where if the Life Insured dies during
the policy tenure, the nominee would receive the Sum Assured or the Fund Value, whichever is higher, as Death
Benefit. This plan also comes with an option of Accidental Death Benefit rider
ULIP policies aim at providing dual benefits that of protection and good returns. Tata AIG Life Lakshya Supreme
ULIP comes with an Accidental Death Benefit rider to enhance the coverage and thus get all-round protection..
Key Features of Tata AIA Life Lakshya Supreme
Non-participating unit-linked insurance plan
On death, higher of the sum assured or fund value will be paid
Accidental Death Benefit is available in this plan as a rider
7 Investment Fund Options and 2 Unique Portfolio Strategies are available.
Benefits you get from Tata AIA Life Lakshya Supreme
Death Benefit – In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever
is higher.
Maturity Benefit – On maturity, the Fund Value is paid to the policyholder.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable
income each year under section 80C
Eligibility conditions and other restrictions in Tata AIA Life Lakshya Supreme
Minimum Maximum
Sum Assured (in Rs.) 7 X Annual Premium 15 X Annual Premium
Policy Term (in years) 20 30
Premium Payment Term (in years) Equal to Policy Term Equal to Policy Term
Entry Age of Policyholder(in years) 4 55
Age at Maturity(in years) NA 75
Single Premium (in Rs.) Not Allowed Not Allowed
Payment modes Yearly, half-yearly, quarterly or monthly
Sample illustration of premium amount in Tata AIA Life Lakshya Supreme
Premium = Rs.30,000
Age = 35 years
Premium Multiple= 10/15
Policy Term = 20 years and 30 years
Premium Paying Term = Regular Pay
Total Investment = Rs 30,000 X 20 years = Rs 6,00,000
Rs 30,000 X 30 years = Rs 9,00,000
Additional Features and Benefits of Tata AIA Life Lakshya Supreme
Riders – There is one rider available in this policy- Accidental Death Benefit rider
Investment Fund Options
There are 7 Investment Funds available
1. Large Cap Equity Fund
2. Whole Life Mid Cap Equity Fund
3. Super Select Equity Fund
4. Whole Life Aggressive Growth Fund
5. Whole Life Stable Growth Fund
6. Whole Life Income Fund
7. Whole Life Short Term Fixed Income Fund
And 2 Portfolio Strategies to choose from are:
1. Systematic Money Allocation & Regular Transfer (SMART)
2. Automatic Asset Allocation (AAA)
Top-up - Top Up is allowed except in the last 5 years of the policy. Minimum Top Up premium is Rs 5,000. Each top
up premium has a lock in of 5 years
Switching - 12 free Switches are allowed in each policy year under this plan.
Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or the life insured’s age is
at least 18 years, whichever is later. The Minimum Partial Withdrawal is Rs 5,000 such that at least 1 year’s
annualized premium should be maintained after Partial Withdrawal.
What happens if?
You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover
will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.
The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this
will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the
accumulated fund value will be payable to the nominee.
You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the
accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will
terminate immediately.
You want a loan against your policy - There is no loan available under this plan.
Some ULIPs from other insurance companies
Max Life Fast Track Plan
SBI Life Unit Plus Super
ICICI Prudential Life Time Premier
Other ULIPs from Tata AIA Life Insurance
Tata AIA Life Insurance InvestAssure Gold Supreme
Tata AIA Life Insurance InvestAssure Maximizer
Tata AIA Life Insurance Swarna Bhavishya
Tata AIA Life InvestAssure Flexi Supreme
Tata AIA Life Insurance United Ujjwal Bhawishya Supreme
Tata AIA Life Insurance Gyan Kosh
Tata AIA Life Insurance Swarna Pratigya - Single Premium
Tata AIA Life InvestAssure Plus Supreme - Single Premium
Key features
Simplified issuance with dual benefit of investment & protection
Sum Assured paid to nominee in case of death of life insured
7 Investment Fund Options to suit your investment profile
ax benefits u/s 80C and 10 (10D) of the Income Tax Act
IndiaFirst Smart Save Insurance Plan
IndiaFirst Smart Save is a unit-linked insurance plan from IndiaFirst Life Insurance Company. In this plan, if the Life
Insured dies within the policy tenure, the nominee would get the Sum Assured or the Fund Value, whichever is higher
as Death Benefit. If the Life Insured survives the entire policy tenure, then he would get the Fund Value as Maturity
benefit.
Key Features of IndiaFirst Smart Save Plan
Unit-linked insurance plans where risk is borne by the policyholder
Choice of 5 investment funds available
The investment can be protected against market fluctuations in the last 3 years before maturity
Single, Limited and Regular Payment options available
Benefits you get from IndiaFirst Smart Save Plan
Death Benefit – In case of death of the Life Insured, the nominee would get higher of Sum Assured and Fund Value
Maturity Benefit – On maturity, the Fund Value is paid to the policyholder according to the investment option
chosen.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable
income each year under section 80C
Eligibility conditions and other restrictions in IndiaFirst Smart Save Plan
Minimum Maximum
Sum Assured (in Rs.) for Regular
and Limited Payment Options
Higher of
105 % of Premium Paying
Term x Annualized Premium
or
10 x Annualized Premium
40 X Annualized Premium (if
age less than 45)
And
11 X Annualized Premium (if
age>=45 years)
Sum Assured (in Rs.) for Single
Payment Option
For age <45 years, 125% of
Single Premium and for
age>=45 years, 110% of Single
Premium
5 x Single Premium
Policy Term (in years) 15 20
Premium Payment Term (in years) Single Equal to Policy term
Entry Age of Policyholder 5 60
Age at Maturity - 75
Single premium (in Rs.) Rs 45000 NA
Payment modes Single, Yearly and Half-Yearly
Sample illustration of premium amount in IndiaFirst Smart Save Plan
Premium = Rs.50,000
Age = 30 years and 35 years
Policy Term = 25 years
Premium Paying Term = 25 years
Sum Assured = Rs 15,00,000
Total Investment = Rs. 50,000 x 25 years = Rs. 12,50,000
Additional Features and Benefits of IndiaFirst Smart Save Plan
Riders – There are no riders available in this policy
Investment Fund Options
There are 5 Investment Funds available
Equity 1 Fund
Balanced 1 Fund
Debt 1 Fund
Index Tracker Fund
Value Fund
Top-up - Not Applicable
Switching - The minimum amount that you can switch is Rs 5,000. 2 switches are free every month, i.e. 24 switches
are free every year.
Partial Withdrawal - Partial withdrawals are allowed only after completion of 5 policy years or 18 years age of the life
insured, whichever is later. The minimum amount that you can withdraw is Rs 5,000 and the maximum is 25% of
Fund Value such that the Fund Value after withdrawal does not fall below 110% of the annual premium for Regular
Payment and Limited Payment Options and the Fund Value after withdrawal does not fall below Rs 45,000 for Single
Payment Option.
What happens if?
You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover
will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.
The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this
will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the
accumulated fund value will be payable to the nominee.
You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the
accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will
terminate immediately.
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,
then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the
Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.
and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured
during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and
the fund value shall be paid immediately and the policy would be terminated.
You want a loan against your policy- Loan is available under this plan before completion of 5 years and not
afterwards.
Alternate ULIPs from different insurance companies
HDFC SL Crest
Kotak Invest Maxima
Max New York Life Fast Track Plan
Other ULIPs from IndiaFirst Life Insurance
IndiaFirst Young India Plan
IndiaFirst Money Balance Plan
Key features
Unit-linked insurance plan with life cover
Option to invest in 5 funds across different asset classes
Can be purchased online
Tax benefits as per prevailing tax laws
HDFC Pro Growth Super II
HDFC Pro Growth Super II Plan is a unit linked insurance plan (ULIP), such that if the Life Insured dies within the
policy tenure, the nominee would receive both the Sum Assured and the Fund Value as Death Benefit. There are
various options of combining the basic Death Benefit along with riders to increase protection.
Key Features of HDFC Pro Growth Super II
Unit linked insurance plan with a double death benefit
No medical tests required
8 options of basic Death Benefit with 3 choice of riders
Choice of 5 Investment Fund Options
HDFC Pro Growth Super II Plan Options
The policyholder has a choice of 8 plan options -
1. Life Option = Death Benefit
2. Extra Life Option = Death Benefit + Accidental Death Benefit
3. Life & Health Option = Death Benefit + Critical Illness Benefit
4. Extra Life & Health Option = Death Benefit + Critical Illness Benefit + Accidental Death Benefit
5. Life & Disability Option = Death Benefit + Accidental Total & Permanent Disability Benefit
6. Extra Life & Disability Option = Death Benefit + Accidental Death Benefit + Accidental Total & Permanent
Disability Benefit
7. Life & Health & Disability Option = Death Benefit + Critical Illness + Accidental Total & Permanent Disability
Benefit
8. Extra Life & Health & Disability Option = Death Benefit + Accidental Death Benefit+ Critical Illness +
Accidental Total & Permanent Disability Benefit
Benefits you get from HDFC Pro Growth Super II
Death Benefit – In case of death of the Life Insured, the nominee would get the Sum Assured Plus the Fund Value.
Maturity Benefit – On maturity, the Fund Value is paid to the policyholder.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable
income each year under section 80C
Eligibility conditions and other restrictions in HDFC Pro Growth Super II
Minimum Maximum
Sum Assured (in Rs.) 10 x AP 40 x Annual Premium
Policy Term (in years) 10 30
Premium Payment Term (in years) Equal to policy term
Entry Age of Policyholder (in years) 14 65
Age at Maturity (in years) NA 75
Single Premium (in Rs.) NA NA
Payment modes Only Yearly
Sample illustration of premium amount in HDFC Pro Growth Super II
Premium = Rs.25,000
Age = 30 years and 40 years
Policy Term = 15 years
Premium Paying Term = Regular Pay
Sum Assured = Rs 2,50,000
Total Investment = Rs 25,000 X 15 years = Rs 3,75,000
Additional Features and Benefits of HDFC Pro Growth Super II
Riders – There are 3 riders available in this policy
1. Critical Illness Benefit rider
2. Accidental Death Benefit rider
3. Accidental Total and Permanent Disability Benefit rider
Investment Fund Options
There are 5 Investment Funds available
1. Short Term Fund
2. Income Fund
3. Balanced Fund
4. Blue Chip Fund
5. Opportunities Fund
Top-up - Not allowed in this plan
Switching - Free switching is allowed at anytime.
Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years or the
life assured is 18 years old, whichever is later. The minimum amount of partial withdrawal should be Rs. 10,000
subject at least 150% of original regular premium remaining in the Fund Value and the Maximum Partial Withdrawal
allowed is upto 300% of the original regular premium.
What happens if?
You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover
will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.
The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this
will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the
accumulated fund value will be payable to the nominee.
You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the
accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will
terminate immediately.
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,
then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the
Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.
and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured
during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and
your fund value shall be paid immediately and the policy would be terminated.
You want a loan against your policy - There is no loan available under this plan.
Alternate ULIPs from different insurance companies
Aviva LifeBond Advantage
AEGON Religare iMaximize
IndiaFirst Life Smart Save
Max New York Life Fast Track Plan
Other ULIPs from HDFC Life Insurance
HDFC SL Crest
HDFC ProGrowth Flexi
HDFC ProGrowth Maximiser
HDFC Pro Growth Plus
HDFC Smart Woman Plan
HDFC Invest Wise Plan - Single Premium
Key features
Variable Financial Protection for your family
Flexible additonal benefit options
Outstandaing investment opportunity of choice of selected investments
Tax benefits as per prevailing tax laws
Max Life Fast Track Plan
Max New York Fast Track Plan is a unit-linked insurance policy which allows entry age up to 60 years. The policy
offers a limited premium payment term in addition to the option of a single premium to the customer. Like in all other
ULIPS, here too the risk of investment is borne by the policyholder and not the insurance company.
Key Features of Max Life Fast Track Insurance Plan
Option of short premium payment terms
Entry age of Life Insured upto 60 years
Systematic investment through STP option to manage market volatilities
Choice of add on covers like Personal Accidental Benefit and Dread Disease rider
Benefits you get from Max Life Fast Track Insurance Policy
Death Benefit – In case of death of the Life Insured before maturity of Policy, amount equal to Sum Assured plus
Fund Value will be paid to the nominee.
Maturity Benefit – On maturity the Policyholder will be eligible to an amount equal to Fund Value. The Fund Value
will be calculated as:
Fund Value = Accumulated Units x NAV prevailing at that time
Income Tax Benefit – The premiums paid by customers towards this policy are exempted under section 80C and the
policy proceeds on maturity are exempted under section 10(10D) under section 80C of Income Tax Act
Eligibility conditions & other restrictions in Max Life Fast Track Policy
Minimum Maximum
Sum Assured (in Rs.)
Limited Pay
Age 30 to 45 years = 10 or 20 times ATP
Age 46 to 60 years = 10 times ATP
Single Pay (SP)
Age 30 to 45 years = 1.25 or 5 times SP
Age 46 to 60 years = 1.25 times SP
Annual Premium (in Rs.) Rs.100,000 No limit
Policy Term (in years) 10 20
Premium Payment Term (in years) 1 10
Entry Age of Policyholder 30 60
Age at Maturity - 70
Single premium (in Rs.) Rs.100,000 No limit
Payment modes Single, Annual, Semi-Annual, Quarterly and Monthly
Sample illustration for Max Life Fast Track Plan
Premium = Rs.1,00,000
Age = 30 years
Policy Term = 20 years
Premium Paying Term = 10 years
Fund Value = Rs.33,25,214 at an assumed rate of 10% per annum and Rs.18,04,180 at an assumed rate of 6% per
annum
Additional Features and Benefits of Max New York Life Fast Track Plan
Riders – There are 2 riders available in this policy
Personal Accidental Benefit is paid in case the insured’s death or total and permanent disability is caused
by an accident. The rider can be opted for ages between 30 to 55 years and expires at life insured age 60
Dread Disease can be opted for ages between 30 to 50 years, and expires at life insured age 60. It gives
you an additional coverage from 10 specified dread diseases which, in case insured is diagnosed with any of
the below mentioned diseases, an additional benefit will be paid to the insured. Diseases like Heart Attack,
Cancer, Stroke, Corornary Artery Bypass Graft, Multiple Sclerosis, Kidney Failure, Major Organ Transplant,
Paralysis, Coma, Heart Valve Replacement/Repair are covered.
Investment Fund Options
There are 6 Investment Funds available to the customer under this policy
1. Growth Fund
2. Growth Super Fund
3. Balanced Fund
4. Conservative Fund
5. Money Market Fund
6. Secure Fund
For customers, who wish to leave the hassles of investment to the insurance company can choose theSystematic
Transfer Plan (STP). The option of STP is available only to those customers who have chosen to pay through annual
mode or in case of Single Premium
Top-up - There is no option of top up premiums in this policy.
Switching - A minimum switch amount of Rs.5,000 is allowed anytime during the policy term. Switches are free of
charge and a maximum of 12 switches will be allowed in a Policy Year
Partial Withdrawal - A maximum of 12 partial withdrawals allowed in a policy year and all are free of charge.
Minimum partial withdrawal amount is Rs 5,000 per transaction.
What happens if?
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,
then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the
Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.
and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured
during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and
your fund value shall be paid immediately and the policy would be terminated.
Alternate ULIPs from different insurance companies
India First Money Plan
Aviva Life Bond Advantage Plan
Birla Sun Life Classic Endowment Plan
ICICI Prudential Pinnacle Super
Other ULIPs from Max Life Insurance
Max New York Life Flexi Fortune
Key features
Option of short premium payment terms enabling an early maturity and fast track accumulation
Choice of six well managed funds for investors with different risk appetite
Systematic Investment through STP option- to safeguard your wealth against market volatilities
Flexibility to make partial withdrawals to meet unplanned expenses
Birla Sun Life Insurance (BSLI) Dream Endowment Plan
Policy opening date – 28th August 2010
This is a unit-linked insurance policy (ULIP) where the premium amount is invested in the markets (debt, equity
and cash market instruments). The value of investments may go up or down, hence the risk in ULIPS is borne by the
policy holder and not by the insurance company.
Key Features of Birla Sun Life Dream Endowment Plan
The policy adds a certain guaranteed amount to your investments from the 10th policy year
Option to choose a specific Guaranteed Savings date when the Fund Value would be paid out to the Life
Insured
Option to increase Sum Assured by opting for Enhanced Sum Assured
Benefits you get from Birla Sun Life Dream Endowment Plan
Death Benefit – In case of death of the policy holder, the nominee gets Basic Sum Assured + Fund Value +
Enhanced Sum Assured (if opted). Death benefit shall never be less than 105% of total basic premiums paid to date
minus any previous partial withdrawals.
Maturity Benefit - If the policy holder survives the policy term, then he/she gets the higher of Fund Value +
Guaranteed Savings Fund at maturity.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable
income each year under section 80C. The maturity amounts you receive from this plan are exempt from tax under
section 10(10D)
Eligibility conditions and other restrictions in BSLI Dream Endowment Plan
Minimum Maximum
Sum Assured (in Rs.) The higher of 10 or the number
of years to maturity divided by 2, for
entry ages below 45 and
The higher of 7 or the number of
No limit
years to maturity divided by 4, for
entry ages 45 and above
Policy Term (in years) 10 years 30 years
Premium Payment Term (in years) 5 years Same as Policy term
Lock-in period 5 years
Entry Age of Policyholder 1 year 65 years
Age at Maturity 18 years 75 years
Regular premium
Annual- Rs 12000
Half-Yearly- Rs 15000
Quarterly- Rs 20000
Monthly- Rs 24000
No limit
Single premium Not Allowed Not Allowed
Payment modes Yearly, Half-Yearly, Quarterly and Monthly (ECS)
Top-up premium Not Allowed Not Allowed
Additional Features and Benefits of Birla Sun Life Dream Endowment Plan
Riders – Some additional benefits can be taken in the form of riders by paying extra premium
Type of Rider Available with Policy
Accidental death benefit Yes
Permanent disability benefit Yes
Waiver of premium benefit Yes
Critical illness (or dread diseases) benefit Yes
Increased death benefit / Term riderYes
(called as Enhanced Sum Assured)
Hospital cash benefit Yes
Surgical Care benefit Yes
Investment Fund Options– Under this plan the policy holder gets the following fund options:
Fund Enhancer
Top-up - There is no top-up facility under this policy.
Switching - Since this policy has only one choice of investment fund, there is no switching facility.
Partial Withdrawal - The policy holder is allowed to make partial withdrawals in this policy after completing 5 policy
years or when the Life Insured is 18 years of age, whichever is later. The minimum amount of partial withdrawal
should be Rs. 5000. There is no maximum limit, but a minimum Fund Value of Rs. 25,000 needs to be maintained.
What happens if?
You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover
will be discontinued and the accumulated fund value till that time minus discontinuance charge will be transferred to
the Discontinued Policy Fund. The proceeds from this Discontinued Policy Fund will be payable after the fifth policy
anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable
to the nominee.
You stop paying the premium after 5 years – If the policyholder stops paying the premium after 5 years, then the
insurance cover will be discontinued and the fund value shall be paid immediately and the policy would stand
terminated.
You want to surrender the policy – The policy can be surrendered from the 6th (sixth) policy year. The surrender
value will be equal to the fund value.
You want a loan against your policy – There is a loan facility under this policy. The minimum loan amount is Rs.
5,000 and the maximum loan amount is 40% of the fund value net of any discontinuance charge.
Alternate ULIPs from different insurance companies
HDFC SL Crest
ICICI Prudential Elite Wealth
Kotak Wealth Insurance
Bajaj Allianz Max Advantage
Other investment plans from Birla Sun Life
Birla Sun Life Classic Endowment
Birla Sun Life Wealth Secure
Birla Sun Life Wealth Max
Birla Sun Life Platinum Advantage
BSLI Foresight Plan
Key features
Guaranteed Savings Amount on the date of your choice
Choice of Policy Term and Premium Payment Term
Enhanced financial security for your loved ones
Option of 5 additional riders
Kotak Wealth Insurance Plan
Kotak Wealth Insurance Plan is a unit linked insurance plan (ULIP) such that if the Life Insured dies within the
policy tenure, the nominee would receive Triple Death Benefit. The nominee would receive Sum Assured, Fund Value
and Lump Sum Benefit of all future premiums paid.
This plan has the unique feature of Death Benefit payment when the Life Insured and the Policyholder dies, in case
they are separate. So for example, if a person takes the policy for his wife, then he is the policyholder who pays the
premium and his wife is the Life Insured, on whose name the policy has been issued. Now, if he dies within the policy
tenure, then a Lump Sum Benefit would be paid since the payor is not alive anymore. And in case, if the Life
insured, i.e. the wife dies, then the beneficiary would get Sum Assured plus Fund Value as Death Benefit of the Life
Insured.
Key Features of Kotak Wealth Insurance Plan
Unit linked insurance plan where the investment risk is borne by the policyholder
Offers a unique feature of Triple Death Benefit
Death Benefit is available even on death of the policyholder if different from the life insured.
Comes with option of shorter premium payment term
Benefits you get from Kotak Wealth Insurance Plan
Death Benefit – There is Triple Death Benefit under both options of this policy:
If the Life Insured and the Policyholder are the same, then death benefit is Sum Assured plus Fund valueplus Lump
Sum Benefit of all future premiums that are due.
If Life Insured and Policyholder are not the same, then
On Death of the Life Insured, Death Benefit is Sum Assured plus Fund value
On Death of the Policyholder, Lump Sum Benefit of all future premiums that are due would be paid
Maturity Benefit – On maturity, the Fund Value is paid to the policyholder.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable
income each year under section 80C
Eligibility conditions and other restrictions in Kotak Wealth Insurance Plan
Minimum Maximum
Sum Assured (in Rs.)
Higher of (10 X Annual
Premium)
Or
(0.5 X Policy Term X Annual
Premium)
25 X Annual Premium
Policy Term (in years) 10 years 30 years
Premium Payment Term (in years) 5 years / 10 years Equal to policy term
Entry Age of Policyholder (in years) 0 65
Age at Maturity (in years) 18 75
Single Premium (in Rs.) NA NA
Payment modes Only Yearly
Sample illustration of premium amount in Kotak Wealth Insurance Plan
Age = 35 years
Premium = Rs.50,000
Sum Assured = Rs 12,50,000
Policy Term = 20 yrs
Total Investment =Rs 50,000 X 20 years= Rs 10,00,000
Additional Features and Benefits of Kotak Wealth Insurance Plan
Riders – There are 3 riders available in this policy
1. Kotak Accidental Disability Guardian Benefit (ADGB)
2. Kotak Critical Illness Benefit (CIB)
3. Kotak Accidental Death Benefit (ADB)
Investment Fund Options
In this plan there are 8 Investment Fund Options
1. Classic Opportunities Fund
2. Frontline Equity Fund
3. Balanced Fund
4. Dynamic Floor Fund II
5. Bond Fund
6. Floating Rate Fund
7. Gilt Fund
8. Money Market Fund
Top-up - You can invest additional premiums as top-up premiums anytime except in the last five policy years. The
minimum top-up premium is Rs. 10,000. Every Top-up premium shall have an Additional Sum Assured which will be
1.25 times or 1.1 times of the Top-up premium paid. This Additional Sum Assured will be in addition to the life cover
Switching - You have the flexibility to switch investments from one fund to the other any time during the policy
term. First 4 switches are free in every policy year.
Partial Withdrawal - You are allowed to make partial withdrawals in this policy after 5 complete policy years. The
minimum amount of partial withdrawal should be Rs. 10,000 such that one annual premium should be maintained
after Partial Withdrawal
What happens if?
You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover
will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund.
The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this
will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the
accumulated fund value will be payable to the nominee.
You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the
accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will
terminate immediately.
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years,
then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the
Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a.
and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured
during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and
your fund value shall be paid immediately and the policy would be terminated.
You want a loan against your policy - Loans shall be granted against the policy once two years' premiums have
been paid. The rate of interest shall be determined by the Company from time to time.
The maximum loan value is 40% of the Fund Value of the policy at that time
Alternate ULIPs from different insurance companies
LIC Pension Plus
ICICI Prudential Elite Wealth
Sahara Shikhar Jeevan Bima
Other ULIPs from Kotak Life Insurance
Kotak Life Platinum Plan
Kotak Life Ace Investment Plan
Kotal Life Invest Maxima Plan
Kotak Life Single Invest Advantage Plan
Key features
Unit-linked insurance plan with comprehensive protection of life insurance
Enhanced protection for your family through Triple Benefit
Wealth accumulation through investing in a fund of your choice
Tax benefits as per prevailing tax laws
Introduction:
SBI Life – Smart Horizon is a non participating Unit Linked Life Insurance Plan. With Smart
Horizon, we give you a hassle free way to get market linked returns through the unique feature of Automatic Asset Allocation, so you truly don’t need to be an expert to grow your money! Should you be keen on managing your money actively, we also give the freedom to take charge of your investments.
Key Features:
•
No Premium Allocation Charge from 2nd year onwards, thereby enhancing your fund value.
• Hassle free investment management by way of Automatic Asset Allocation, also a choice to manage your investments actively by choosing between 4 diverse fund options at your disposal.
•
You can also enjoy the best of both worlds, by a combination of Automatic Asset Allocation and the Active Fund Management options.
• Life Insurance coverage, with minimum Sum Assured based on your age.
• Flexible product with an option to increase or decrease your Sum Assured, from 6th year onwards.
• Switch and redirection facilities, to give you the power for active management of your investments.
• Option to customize the product with a wide range of riders: SBI Life - Criti Care 13 Rider (UIN: 111A018V01), SBI Life - Accidental Death Benefit Linked Rider (UIN: 111A019V01), SBI Life - Premium Payor Waiver Benefit Rider (UIN: 111A017V01) and SBI Life - Income Sustainer Rider (UIN: 111A020V01).
Product Snapshot
Age at Entry* Minimum: 7 years Maximum: 60 years
Age at Maturity 70 years
Policy Term 10 yrs, 15 to 30 years (both inclusive)
Regular Premium Amount (X 100)
Minimum Maximum
Yearly Rs 24,000 Rs 74,000
Half-yearly Rs 15,000 Rs 37,000
Quarterly Rs 8,000 Rs 18,500
Monthly Rs 3,000 Rs 6,200
Premium Modes Yearly / Half-yearly / Quarterly / Monthly***
Sum Assured Minimum:For Ages below 45 yrs : Higher of {10 x Annual Premium (AP) or (0.5 x Term x AP)}
For Ages 45yrs & above: Higher of {7 x AP or (0.25 x Term x AP)}
Maximum:For All Ages - 20 x AP
Benefits:
•
Maturity Benefit: On completion of Policy Term, Fund Value will be paid.
• Death Benefit: Higher of the Fund Value or Sum Assured# is payable; with a minimum of 105% of total basic premiums paid# till the time of death.
• Rider Benefits:
• SBI Life - Criti Care 13 Rider: Provides lump sum amount to take care of 13 Critical Illnesses which include Cancer, Coronary Artery Bypass Graft Surgery, Heart Attack, Heart Valve Surgery, Kidney Failure, Major Burns, Major Organ Transplant, Paralysis, Stroke, Surgery of Aorta, Coma, Motor Neurone Disease and Multiple Sclerosis.
• Accidental Death Benefit Linked Rider:Provides additional death benefit if the death occurs as a result of an accident.
• Premium Payor Waiver Benefit Rider: In the event of the death of the Proposer, the cover for the Life Assured under the base policy continues and the future premiums under the base policy, payable during the rider term, will be paid by the Company.
• Income Sustainer Rider: Provides additional benefit in the case of death or in the case of Total & Permanent Disability due to Accident or Sickness, whichever is earlier. A 25% of income sustainer benefit sum assured is paid upfront and 1% of income sustainer benefit sum assured is paid monthly in arrears for 10 years or till the end of the base policy term (capped at a maximum of 30 years) whichever is higher.
• Tax Benefits:
•
Tax deduction under Section 80C is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured. Tax deduction under Section 80 (D) is available for premiums paid towards Criti Care 13 Rider.
Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy.Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.
Ing visya
New Future Perfect (Unit Linked Insurance Plan - Retirement Planning)Highly flexible unit linked insurance plan (ULIP) with systematic withdrawals for a perfect retirement planning.
The ING Life New Future Perfect Unit Linked Insurance Plan has has been carefully put together to enable you get the maximum benefits. It not only provides you with flexibility in terms of premium amounts and frequency, but also offers you an investment opportunity that’s just perfect for your long-term financial future.
The ING Life New Future Perfect Unit Linked Insurance Policy offers you flexibility in terms of how much you want to
pay, how often you want to pay and the choice of investment pattern. After all, what you are looking for is not just life cover but something that covers all of what life has to offer.
Key benefits
Flexible Life Cover
Flexible Investment Options
Regular income through systematic withdrawal benefit after age 60
Product features…
Eligibility
Minimum entry age: 8 years
Maximum entry age: 55 years (Subject to Premium Payment Term)
Maximum maturity age: 80 years
Premium Payment Terms
Choose premium paying terms of 5-25 years
Premium Payment Options
Annual, half-yearly, quarterly or monthly
Minimum Premium Payable
Annual : Rs. 15,000
Half-Yearly : Rs. 8,000
Quarterly : Rs. 4,000
Monthly : Rs. 1,500
Top ups Rs. 5,000