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Maturity Benefits
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At maturity, you have the option to either take the entire fund value as a lump sum and close the policy or opt for the Settlement Option and take the maturity proceeds as structured payouts over 5 years.
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Death Benefits
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In the unfortunate event of lifs assured death during the policy term, nominee will receive higher of Sum Assured and Fund Value. The Sum Assured shall be reduced by all the partial withdrawals made within two years prior to the date of death.
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Survival Benefit
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You have the optio to surrender the policy, whereby the surrender valuewill be paid to you after deducting the applicable surrender charges(There will be no surrender charges if premiums have been paid for at least 3 policy years) and thereafter the policy will terminate. If the policy is surrender within the first 3 policy years, the surrender value will be paid after completion of the 3 policy years.
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Loan against policy
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There is no provision of loan on the policy.
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Additional Benefits
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The Loyalty Additions are given in the form of extra allocation of units as a percentage of your fund value pertaining to regular premiums only.
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Partial Withdrawal Benefit
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You can make partial withdrawals from your policy without having to surrender it. Partial withdrawals are allowed after the completion of 3 policy years. The minimum withdrawal amount is Rs. 10000 and the maximum is such that the fund value after withdrawal is more than 120% of the first year premium. The first four partial withdrawals in a year are free of charge.
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