Overview

Entry age: 18 to 54 years

Term: Minimum 5 years and maximum 20 years

Face Amount: Annual Premium x Policy Term

Maximum Face Amount: Rs 15 million

Minimum Annual Premium:  Rs. 12,000 /-

Maximum Annual Premium:  Rs. 3 million

Mode of Premium Payment: Annual, Semi-Annual or Quarterly

Accidental Coverage (AD/D/PTD): Up to age 65 years

Illustration of Benefits and Projected Maturity Values

If insured of age 35 years wants a 20-year term and can afford Rs. 30,000 annual premium (i.e. by saving Rs. 2,500 per month), the Coverage and Benefits that he or she can get are:

Example for Gold Plan: Future Care DPS

• Life Coverage: Rs 600,000 (i.e. Rs.30,000 x 20)
• Accidental Coverage: Rs. 1200,000
• Maturity Value @ assumed Investment Yield Rate
• Yield Rate @ 7% = Rs. 1,127,346
• Yield Rate @ 9% = Rs. 1,445,134       

Example for Silver Plan: Future Care DPS

• Accidental Coverage = Rs. 1200,000
• Maturity Value @ assumed Investment Yield Rate
• Yield Rate @ 7% = Rs. 1,156,024
• Yield Rate @ 9% = Rs. 1,481,225 

Life Annuity (Pension) Option

This plan provides you the option to go for life time annuity with guaranteed period of 20 year using the maturity proceed. Under this provision you will receive monthly pension from the age of your choice up to your 100th birthday. In the regretful event of loss of life during the guaranteed twenty years, your loved ones will continue to receive the monthly benefit for the remainder of the guaranteed period.

The monthly benefit amount will be calculated as follows:

Monthly Benefit Amount = Maturity Amount / (Annuity Factor x12)

*Example: Maturity Amount: Rs. 200,000; Attained Age: 55 Years; Annuity Factor 12.44@ assumed rate of 6%; Monthly Income = Rs. 1,264.73 i.e., 200,000/ (12.44 x12)

(*The illustration is only based on assumptions and presented for understanding purpose. The actual amount will be determined at the time of maturity using actual interest rate, mortality and expenses.)

Rider

Rider is an addition to an insurance policy that becomes part of the contract and that provide extra benefits as mention in contract in case of eventuality as covered. Additional benefits can be added in Future Care DPS as riders which are as follows:

• Critical Illness: 7 Critical Diseases (Major Cancer, First Heart Attack, Stroke, Benign Brain Tumor, Serious Coronary Artery Disease, Heart Valve Surgery, and Primary Pulmonary Hypertension) covered. Lump sum payment equal to 100 % or 50 % of Face Amount upon diagnosis of any one of the above illnesses.
• Family Protection Rider: Waive the Premium (of base and riders) during premium payment period in case of Permanent & Total Disability due to accident or sickness.

Future Care DPS - Policy Document

Critial Illness (CI) Rider Document

Family Protection Rider (FPR) Document

First policy issue date: 24/05/2012