Benefits

On Death during the Term of the Policy      : Sum Assured
On Maturity                                             : Nil

RESTRICTIVE CONDITIONS

Minimum age at entry	:18 years (completed)
Maximum age at entry	:60 years (nearest birthday)
Maximum age at maturity	:70 years (nearest birthday)
Minimum Policy Term	:5 years
Maximum Policy term	:35 years
Minimum Sum Assured	:Rs.25,00,000/-
Maximum Sum Assured	:No Upper Limit
(Policies will be issued in multiples of Rs.100,000/- for Sums Assured more than the minimum Sum Assured)
Mode of premium payment	:Yearly, Half-yearly & Single Premium

REBATES

• Mode Rebate
  
  There is no mode rebate for yearly mode of premium payment under this plan. In case of half-yearly mode, there is an additional premium of 2% of the tabular annual premium.
  
  
• Large Sum Assured Rebates
  
  A rebate of Rs.0.25 %o Sum Assured will be allowed under Single Premium policies with Sums Assured of Rs. One Crore and above. There will be no rebate for large Sum Assured in case of Regular Premium.
  
  
• Rebate for Corporation Employees
  
  Policies issued to Corporation Employees on their own lives under this plan will be eligible for a reduction @ 10% of the Tabular premium for Half-yearly and yearly mode.  In case of a single premium policy this rebate will be 2% of the tabular premium.

UNDERWRITING, AGE PROOF AND MEDICAL REQUIREMENTS

The Plan will be allowed to standard and substandard lives.  In case of female lives, this plan will be restricted to Category-I and II lives only. Physically handicapped persons falling under Group A with loss of one limb will be eligible for this Plan with standard extra rates.  This Plan can be allowed to persons engaged in hazardous occupations by charging appropriate occupation extra or with Clause 86. Further, the following points should be noted

• Standard age proof will have to be submitted along with the Proposal Form.
  
  
• Proposals will be considered on the basis of Medical Reports and Special reports (if any). FMR will be required to be done by DMR / Addl. DMR or by TPA. FMR from MEs with enhanced powers will not be accepted.
  
  
• Cost of medical examination (including Special reports, if any) will be borne by the Corporation as per rules.
  
  
• For the purpose of SUC and underwriting (Special Reports, Financial underwriting etc.), the Sum Assured under the plan is to be considered.

PAID UP AND SURRENDER VALUE

• The policy will not acquire any paid-up value.
  
• No Surrender Value will be available under this plan.
  

LOAN
No loan will be granted under this plan.

GRACE PERIOD FOR NON-FORFEITURE PROVISIONS
(For policies with Regular Premium)

A grace period of 15 days will be allowed for payment of yearly or half-yearly premiums.  If death occurs within this period and before the payment of the premium then due, the policy shall be valid and the Sum Assured shall be payable after deduction of the said premium as also unpaid premiums, if any, falling due before the next policy anniversary of the policy.  If premiums are not paid within the grace period, the policy will lapse.

REVIVAL (For policies with Regular Premium)

If the policy has lapsed, it may be revived during the life time of the Life Assured, but within a period of 5 years from the date of first unpaid premium and before the date of maturity, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest at such rate as may be prevailing at the time of revival. The Corporation reserves the right to accept at ordinary terms, accept with modified terms or decline the revival of a discontinued policy. 

Revival of lapsed policies can be considered with the following requirements:

Period from First Unpaid Premium	Requirements for revival
16 days to 60 days	Arrears of premiums with interest thereon
61 days and above	Arrears of premiums with interest thereon subject to submission of proof of continued insurability to the satisfaction of the Corporation as per underwriting rules prevailing at the time of revival.

The cost of the medical reports, including special reports, if any, required for the purposes of revival of the policy, shall be borne by the Life Assured.

The revival of a discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Proposer/Life Assured.

PAYMENT OF CLAIMS

No claim concession and extended claim concession will be applicable to this policy.

REINSURANCE

The reinsurance rules will be as applicable to term assurance plans.

BACK-DATING INTEREST

The policy can be dated back within the financial year.  No dating back interest shall be charged. However, policies issued in this year cannot be back-dated before the date of introduction.