The Life Insurance plan that makes you say, “Simple Hai, Sorted Hai!”

With a limited pay term insurance plan, you get the freedom to pay off your premiums within a shorter duration. The premium payment term can range from 5, 7, 10, 15 and 20 years. This will allow you to pay off your insurance premiums well before your retirement age and enjoy a hassle-free retired life. Also, the cumulative premium paid with a Limited Pay plan, is lesser than the cumulative premium otherwise.

Securing your family’s financial future should be simple. A low-cost term plan like this, ensures that in the unfortunate event of your death, your family gets the requisite financial support to maintain their lifestyle in the same manner that you would have provided for them.

Yes, this plan covers death due to COVID-19.

There are 4 variants offered with this plan. These include Life Cover - the basic variation, Life Cover with Accidental Death Benefit - the variation with the benefit that offers a pay-out in case of death by accident, Life Cover with Inbuilt Waiver of Premiums on Accident Total and Permanent Disability- the variation that waives off future premium payments in case of permanent disability and Life Cover with Waiver of Life Cover with Inbuilt Waiver of Premiums on Critical Illnesss - the variation that waives off payment of future premiums in case of a critical illness diagnosis.

For most variants, the policy term lasts between 10 to 40 years. In case you have opted for the plan that gives you coverage up to age 80 years, your policy will last for 62 years.

For a Regular Pay option, you need to pay your premiums for the same duration as that of your policy term. For the Limited Pay option, you can choose to pay premiums in 5, 10, 15 or 20 years. There are two premium payment frequencies offered -Annual Mode (yearly payment) or a Single Mode (one-time payment). 

The minimum sum assured is Rs. 25,00,000. As for the maximum amount, there is no defined upper limit. It will be subject to Board-approved underwriting policy on the basis of your age & income.

The maximum maturity age is 80 years.

The minimum entry age for this policy is 18 years and the maximum policy term will be 62 years.

Depending on factors like the Sum Assured, Policy Term and Premium Paying Term, we offer discounts on premiums. Attractive premiums are offered for a higher Sum Assured.

There are no Riders available for this plan. Since this plan comes with various inbuilt benefits, there are no additional riders for it.

The pay-out options for getting the Sum Assured are through the Lump sum Option - that offers pay-out in the form of a lump sum payment & Income Benefit Option

Under this option, every month 1% of your sum assured will be given to you. This will last for 130 months and will begin from the policy anniversary month following the date of death.

The following 12 critical illnesses are covered in the Life Cover with Waiver of Future Premiums Payable on Critical Illness:

In case of death due to suicide within 12 months from the Risk Commencement Date or from the date of Revival of the policy, your Nominee or the Beneficiary shall be entitled to at least 80% of the total Premiums paid, provided the Policy is in force.

Grace Period for this plan is 30 days. The policy will remain in force during the grace period without losing out on continuity benefits like waiting periods and coverage of pre-existing diseases. Coverage is not available for the period for which no premium is received. If any premium goes unpaid at the end of the grace period, the policy shall lapse.

The Free Look Period offered is 15 days from the date of receiving your policy. For policies sold through distance marketing, the free look period is of 30 days.