If you have opted for the Increasing Death Benefit option, we will pay the sum assured plus the fund value of your policy on the death of the life insured.
If you have opted for the Level Death Benefit option, we will pay the higher of the sum assured or the fund value of your policy on the death of the life insured.
Under both the options if the life insured dies before attaining age 10 years, we will only pay the fund value of your policy.

The riders allowed are Dreaded Disease and Accidental Death Benefit.

There is no explicit rider premium charged. The rider cost is recovered from deducting units from the fund account.

This is a premium driven product and the customer can choose a premium he wishes to pay (minimum is Rs. 50,000) and cover multiple to arrive at a sum assured.

If you continue your policy and make premium payments as per the policy schedule, we will allocate Persistency Units (units in addition to those which are created from your premium payments) to your unit account on the 9th policy anniversary and on every 3rd anniversary thereafter provided your policy is in-force at that anniversary. The Persistency Units will be equal to 1% of weighted average of your fund values on the immediately preceding 36 monthiversaries.

At the end of the policy term, we will pay the value of the units in your policy and terminate the contract.

This plan also offers you the Settlement Option on maturity where your policy will continue for a period not exceeding five years but the insurance cover will terminate on maturity. You can select the Settlement Option at least three months before the maturity date. Under the Settlement Option, you do not take maturity proceeds but the policy continues after maturity and the periodical payments, as agreed with us, are given to you by cancellation of units from your policy account.
All charges [except mortality / morbidity charge] will continue to apply. Please note that the value of your policy after maturity will depend upon the outstanding number of units and the applicable unit price of units. The unit price may increase or decrease and your fund may fluctuate as a result after the maturity date. All inherent risks shall be borne by you.

You have the flexibility to direct your investments in any one or more of the following four unit linked investment funds of the Company: SECURE, CONSERVATIVE, BALANCED and GROWTH. These funds invest in Fixed Income and Equity assets as follows:

This plan may entitle you certain tax benefits on your premiums as well as on your maturity value.

• U/s 80C of the Income Tax Act 1961 on your annual premium on your policy.
• U/s 10(10D) of the Income Tax Act 1961 on your maturity proceeds of the policy.

• Annual Target Premium: You have the option to choose the premium that you wish to pay us every year during the premium pay term (called the Annual Target Premium or ATP). You have also got the option to choose any one of the 6 available premium pay term options viz. Single Pay, Limited Payment (for 3 years, or 5 years, or 7 years or 10 years) or Regular Pay (until end of the policy term) suitable to your requirement.
• Premium Payment Frequency: You have the option to choose any one of the premium payment frequencies - Annual, Semi-annual, Quarterly or Monthly. Your premium payment dates will depend upon this frequency chosen by you.
• Payment of Top Up Premium: A Top up premium is an additional amount of premium over and above the Annual Target Premium. You have the option to pay Top up premiums subject to a minimum of Rs.10,000. Please note that any premium payment in any policy year will first be used to pay the ATP and the excess money will be treated as top-up premium.
  All premiums are subject to applicable taxes including service tax, which shall be to the account of the Policyholder.
• Allocation of Premium: The premiums paid by you will be allocated to the funds chosen by you, after adjusting for the premium allocation charge, and units will be issued to your policy account. You can determine the value of your policy any time by multiplying the number of units in your policy by its unit price.

• Switching: We provide you this facility to change the investment pattern by moving from one fund to other fund(s) amongst the funds offered under this contract. You may need this facility under certain circumstances e.g. on change of your personal risk profile or change in market conditions. Every policy year, we offer you 6 free switches. On receipt of the switch request from you, we will cancel units in the fund you wish to exit and purchase units in the fund you wish to enter at the applicable unit prices of that respective funds.
• Premium Re-direction: This is the facility that allows you to modify the allocation of renewal premiums into a different investment pattern from the option exercised at the inception of the contract provided the amount paid into each fund meets our minimum receipt requirements in force at that time. Every policy year, we offer you first 3 redirections free.
• Partial Withdrawal: If you wish to withdraw a part of your fund, you can make partial withdrawals up to 50% of the surrender value of the policy in case of increasing death benefit and 20% of surrender value in case the death benefit option is Level in any policy year by cancellation of units from your unit account. Please note that this facility is not available during first three policy years, and each Top Up will have a lock in of 3 years for partial withdrawals (except in the last 3 policy years).
  
  If you have chosen the level death benefit in your policy, the sum assured will reduce by the amount of all partial withdrawals made during the period of two years preceding the date of death of the life insured. However if the life insured has attained age 60, the death benefit will be reduced by all partial withdrawals made after age 58.
  
  The minimum value of partial withdrawal should be Rs 10,000/- and the minimum fund value after any partial withdrawal should not be less than one ATP.
• Surrender: After the third policy anniversary, you may fully surrender your policy at any time by giving us prior written notice, and we will pay the surrender value to you, after deduction of the surrender charge, if any. The surrender charges are given below:

  Premium Pay Term	Policy Year 4	Policy Year 5	Policy Year 6 onwards
  5 Pay; 7 Pay; 10 Pay or Regular Pay	40% of ATP	20% of ATP	NIL
  Equities	NIL	NIL	NIL

  Please note that your policy will not acquire a surrender value unless you have paid premiums (ATP or Top Up) equivalent to 1 ATP in case of premium payment term of 3 pay and at least 2 years ATP in case of any other premium payment term.
• Change in Death Benefit Option : If you wish to change your death benefit option from increasing to level, it can be done after the life insured attains age 60. Change from level to increasing is not allowed.
• Change in Sum Assured : If you wish to increase the base sum assured, it can be done but decrease in sum assured is not allowed. The increase in Sum Assured can only be done upto the maximum permissible limit as per the Sum Assured Multiples. Any such increase will be subject to underwriting guidelines.

Discontinuation of premiums after paying at least three consecutive years premium:

• If all due ATP?s have been paid for at least three consecutive years and subsequent ATP?s are unpaid, an opportunity will be given to you to revive the Policy within the revival period of 3 years.
• During the revival period, the insurance cover under the Policy will continue and all applicable charges would be levied.
• At the end of the revival period, if the Policy is not revived, the Policy will terminate and the guaranteed surrender Value will be paid. However, we may instead of terminating the Policy, offer to continue the Policy with the insurance cover, if so opted by you, levying appropriate charges until the fund value does not fall below an amount equal to one ATP.

Discontinuance of premiums within three years of inception of the policy:

• If all the ATP?s have not been paid for at least 3 consecutive years from the effective date of coverage, the insurance cover under the Policy and applicable Riders, if any shall cease immediately on expiry of the grace period.
• We will give you an opportunity to revive the Policy within the revival period of 3 years.
• In case the Policy is not revived during this revival period, the Policy will terminate and the guaranteed surrender value, if any, shall be paid at the end of third policy anniversary or at the end of the revival period whichever is later.

• Fund Management Charge: This is a charge levied as a percentage of the value of assets and shall be appropriated, usually daily, by adjusting the Net Asset Value of the fund. The annual rate of fund management charge for the Secure Fund and the Conservative Fund is 0.90% p.a., Balanced Fund 1.10% p.a. and Growth Fund 1.25% p.a. This charge may increase in future after clearance from IRDA but shall not be higher than 2% p.a.
• Policy Administration Charge - This charge is expressed as a fixed amount, a percentage of the premium and the percentage of the sum assured. This charge is levied at the beginning of each policy month from the policy fund by canceling units for equivalent amount. The rate of the policy administration charge is as under:
  • Fixed Amount: Rs.50 per month, which will increase every year by 5% per annum compounded annualy. plus
  • Percentage of Premium: For 3 pay- 3% of ATP during the second and third policy year and for 5, 7 and 10 pay- 3% of ATP during the second to fifth policy year. This charge will not be applicable for single pay policies. plus
  • Percentage of Sum assured: a one-time charge of 0.20% of sum assured charged at the policy inception.

Unit price of a fund will be determined by dividing the net asset value of the fund by the outstanding number of units on the fund valuation date. The value of a Fund will be determined and based on the market value/ fair value at which assets referenced to such Fund can be respectively purchased or sold, plus the respective cost of purchasing or minus the cost of selling the assets, plus the value of current assets, plus any accrued income net of fund management charges, less the value of current liabilities, less provisions, if any. The value of Funds may increase, decrease or remain unchanged accordingly.