This Additional Benefit provides cover for the Spouse of the Life insured only after the death of the Life Insured. This benefit gets triggered on the death of the Life Insured. This Additional Benefit is available only if the Base Sum Assured is greater than or equal to Rs. 50,00,000.

The minimum and maximum entry age for Spouse will be 18 years and 65 years (age last birthday) respectively. The coverage term for this Additional Benefit will be equal to lower of the Policy Term or (85 less Entry Age of the Spouse) or (85 less Entry Age of the Life Insured).

Life cover will commence on the life of your spouse with Better Half Benefit sum assured and will continue for the remaining policy term or till the period your Spouse attains age 85 years (age last birthday) or till the period Life Assured would have attained age 85 years (age last birthday), whichever is lower. ‘Better Half Benefit’ Sum Assured is 50% of the Base Sum Assured, subject to maximum of Rs. 1 crore. This benefit will be paid as per the Death Benefit Payment mode selected by you.

Some compulsory criteria to opt for this benefit:

●        You should be married

●        The age difference between you and your spouse is less than or equal to 10 years 

●        The policy is accepted at standard rates at policy issuance

Under this additional benefit, you can secure your child’s future by increasing the base sum assured with an Additional Sum Assured. This amount could range between 10% to 100% of your Base Sum Assured, in multiples of 10%. This benefit will be available only during the Child Coverage Term, which is equal to ‘25 minus Child’s Age (age last birthday) at the inception of the policy.

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

Payout options for the Death Benefit need to be decided during the inception of the plan. The payout is available in three modes, which as as follows:

●        Lumpsum - Entire payout available in one go

●        Monthly Income - A percentage of Death Benefit will be payable every month for the fixed number of months

●        Lumpsum plus Monthly Income - Some portion of the payout is received at once, the rest is dispensed in the form of regular installments.

In case you have chosen the Life Cover Option, the minimum sum assured applicable is Rs. 25,00,000. For the Return of Premium Option, the minimum  sum assured applicable is Rs. 10,00,000 and with the Live Long Option, the minimum sum assured applicable is Rs. 25,00,000.

For maximum sum assured, there is no upper limit on the base sum assured, as it is subject to Board Approved Underwriting Policy.

The minimum age of your spouse should be 18 years, and maximum is 65 years, to avail the Better Half Benefit option.

For 5 Pay, 7 Pay and Regular Pay options, the minimum policy term is 10 years. For 10 Pay, 15 Pay and 20 Pay, it is 15, 20 and 25 respectively.

In case you have opted for the Live Long Option, for 5 Pay, 7 Pay, 10 Pay & 15 Pay, the minimum policy term is 20 years. For 20 Pay, the minimum policy term is 25 years.

The maximum policy term is 100 years less age at entry, for any plan option selected.

For all plan variants, the minimum Annual premium amount is Rs. 3,000. For the Semi - Annual payment, the minimum premium amount is Rs. 2,000. The minimum Quarterly premium payment is Rs. 1,250 and the same for Monthly premium is Rs. 300. 

The minimum maturity age is 28 years for Life Cover & Return of Premium options. In case you have chosen the Live Long Option, the minimum maturity age for your plan to mature, will either be 70 years or 75 years. The maximum maturity age for all plan variants is 100 years. All these ages are as per last birthday.

Similar to other term insurance plans,  the minimum age to avail this policy is 18 years. The maximum age at which you can avail it, depends on the type of benefits you are opting for. Thus, the maximum age at which you can get this policy is as follows:

●        Life Cover Option with Limited Pay- 65 yrs.

●        Life Cover Option with Regular Pay - 55 yrs.

●        Return of Premium Option with Limited Pay - 60 yrs.

●        Return of Premium Option with Regular Pay - 50 yrs.

●        Live Long Option with Income Pay-out at 60 yrs - 50 yrs

●        Live Long Option with Income Pay-out at 65 yrs - 55 yrs.

For underwriting status non-medical, the maximum entry age is 55 or as mentioned above

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 you have chosen shall be entitled to at least 80% of the total Premiums paid, provided the Policy is in force.

In case you have opted for Better Half Benefit, the following exclusions are applicable:

1. If your Spouse dies before you, this benefit will not be applicable.

2. In the event of simultaneous death of you and your Spouse, Better Half Benefit is not applicable.

3. Post death of the Life Assured, in case of death of Spouse due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the nominee or beneficiary shall receive at least 80% of the total of ‘Better Half Benefit’ premiums paid till the date of death, provided the policy is in force.

The free look period offered is 15 days from the date of receiving your policy. For policies sold through distance marketing (where distance mode means sale of insurance products through any means of communication other than in person), the free look period is 30 days.