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Maturity Benefits
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Fund Value available to the credit of the policyholder as on the date of maturity will become payable on survival of the policyholder at the end of the term of the policy.
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Death Benefits
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In the event of unfortunate death of the life assured under the policy an amount equivalent to the total fund value available to the credit of the policyholder along with the basic sum assured is payable.In case of Minor: Risk commences in this plan from the first business day of the policy month following the date the life assured attaining 7th birthday, where the policy is taken before that age. Death benefit as mentioned above would be payable if death occurs after the commencement of the risk. Where the death takes place before the date of commencement of risk, only the fund value is payable.
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Loan against policy
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No loan will be granted by the Company against this policy.
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Partial Withdrawal Benefit
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Partial withdrawal is allowed from the 4th policy year onwards subject to certain conditions. Where the life assured is a minor, partial withdrawal is allowed only after he or she attains age 18 or 4th policy year whichever is later.
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Surrender Benefit
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The policy will acquire surrender value after at least one full year's premiums are paid. However, the surrender value will be payable only after completion of 3 years. It is important to note that no surrender benefit is available for life cover and riders and hence surrender is applicable only to the Fund Value.
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