You can select any of the below given payout options at the inception of the policy.

Lumpsum Option:

The benefit on death or diagnosis of terminal illness, whichever is earlier, is payable as lumpsum and the policy terminates.

Lumpsum and Level Income Option

On death or diagnosis of terminal illness, whichever is earlier, the policyholder can choose 10 % to 50% (in multiple of 10%) of the applicable death benefit to be paid immediately as lumpsum and the balance amount to be paid in arrears as equal monthly instalments over a period of 5 years. The lumpsum percentage has to be chosen at the inception of the policy.

• This option shall only be available under Life Option
• Sum Assured can be increased without any medical underwriting on any of the below specified events during the life of the Life Assured. The total increase in Sum Assured shall be subject to overall limit of 100% of initial Sum Assured.
• The option to increase Sum Assured can be availed within a period of six months from the date of the specified events. The increase in Sum Assured will be effective from the annual policy anniversary falling immediately after the date of notification and an additional premium will be charged for an increase in the Sum Assured based on the attained age of the policyholder at the option exercise date.
• To exercise the above options life assured should be underwritten at standard rate at policy inception, the policy should be premium paying at the time of exercising the option and age of the policyholder must be less than 45 years. This option is not allowed for single premium policies.

Life Stage Events	Maximum additional % of Base SA	Maximum Additional SA allowed
Marriage (only one instance during Policy Term)	50%	50 Lakh
Birth/ Legal adoption of 1st child	25%	25 Lakh
Birth/ Legal adoption of 2nd child	25%	25 Lakh
Home loan taken by Life Assured (only one instance during Policy Term)	50% or loan amount (whichever is lower)	50 Lakh

• Sum Assured can be reduced in future if it had been increased during an event beforehand and post attaining age 45 years. This option is also applicable only under Life Option.
• The decrease will be allowed to the extent of Sum Assured increased under the specified event in the life of the Life Assured.
• The reduction in Sum Assured will be effective from the annual policy anniversary falling immediately after the date of notification and the premium will be decreased at the same time.
• The decrease in premium corresponding to the specified event of increase will be equal to the additional premium charged at the time of increase in Sum Assured benefit corresponding to that specific event as mentioned in the option to Increase Sum Assured.
• The option to decrease sum assured benefit cannot be availed by the policyholder during the last 5 policy years.
• Once sum assured is decreased it cannot be increased in future.

The written request for reduction in Sum Assured should be sent at least two months prior to the annual policy anniversary.

This is an optional benefit, available only with Life Option & Smart Life Option. All future premiums shall be waived if the Life Assured is diagnosed with any of the listed 40 Critical Illnesses or total permanent disability due to accident. An additional premium will be charged for this benefit. If Joint Life Option is chosen along with this option then WOP is applicable only on the primary life assured.

Yes, you can cover your spouse along with yourself under the same policy. You can do this by opting Joint Life Option. This option is available only with Life Option. Insurance coverage as chosen commences on both the Life Assureds’ at inception of the policy. If this option is chosen, an additional cover of 50% of Primary Life’s Sum Assured will be offered to the spouse upto a max of INR 1Cr cover. On occurrence of death of the secondary life assured, applicable benefit shall be payable. In case payout happens for a life assured, policy will continue for the other life assured till benefit for both the life assureds’ is exhausted or till the end of policy term, whichever is earlier.

Maturity Benefit is only applicable in case Return of Premium Option is chosen. On survival of the life assured till the end of the policy term, Maturity Benefit as applicable shall be paid to the Policyholder. The policy terminates once the full amount of benefit is paid on occurrence of the event.

No maturity benefit is applicable under any of the other plan options

Tax benefits may be available on premiums paid and benefits receivable as per prevailing Income Tax Laws. These are subject to change from time to time as per the Government Tax laws. Please consult your tax consultant before purchasing this policy.

No, loan is not allowed in this policy.

In the event of non-payment of premium due under the policy within the grace period the policy will lapse. The cover will cease and no further benefits will be payable in case of a lapsed policy.

We provide you with a grace period which is the time provided for payment of premium from the premium due date during which the policy is considered to be in-force with the risk cover. For Limited Premium policies, you are provided a Grace Period of 15 days under monthly mode and one month but not less than 30 days for other premium payment modes, in case you miss your due premium on the due dates. All your policy benefits continue during this grace period and the policy will be considered to be in-force.

Yes, you may surrender this Policy during the Policy Term, by submitting a written request to us any time after the Policy has acquired the Surrender/Termination Value. Please remember, you cannot revive your Policy once it is surrendered/terminated.

Yes, you can return your policy within the Free Look period; In case you do not agree to the any policy terms and conditions, you have the option of returning the policy to us stating the reasons thereof, within 15 days from the date of receipt of the policy. The free-look period for policies purchased through distance marketing or electronic mode will be 30 days.