|
A) Partial Withdrawal Charges
There are no partial withdrawal charges.
|
|
B) Surrender Charges
Policy can be surrendered any
time during the term. However when the request is received in first three
policy years, the surrender value will be frozen and kept aside as a monetary
value as on date of surrender and shall be payable at the end of three policy
years. These will be subject to the surrender charges applicable at the time
of surrender.
The following table shows surrender charge as
percentage of Regular Premium Fund Value:
There are no surrender
charges applicable on the Top-up premium Fund Value.
|
Policy year
|
Surrender Charge as a % of Regular Premium Fund Value
|
|
1
|
100%
|
|
2
|
75%
|
|
3
|
50%
|
|
4
|
25%
|
|
5
|
10%
|
|
6+
|
0%
|
|
|
C) Premium Allocation Charges: Premium Allocation Charge will be deducted from
the Regular Premium received as a percentage of the Regular Premium as shown
below:
|
First Year Premium Charge
|
|
Ages
|
%
Premium Charge Premium Year* 1
|
|
15YR
|
20YR
|
25YR
|
30YR
|
|
0 - 45
|
40.00%
|
50.00%
|
50.00%
|
50%
|
|
46
|
37.50%
|
47.50%
|
47.50%
|
-
|
|
47
|
35.00%
|
45.00%
|
45.00%
|
-
|
|
48
|
32.50%
|
42.50%
|
42.50%
|
-
|
|
49
|
30.00%
|
40.00%
|
40.00%
|
-
|
|
50
|
27.50%
|
37.50%
|
37.50%
|
-
|
|
51
|
26.00%
|
35.00%
|
-
|
-
|
|
52
|
24.50%
|
32.50%
|
-
|
-
|
|
53
|
23.00%
|
30.00%
|
-
|
-
|
|
54
|
21.50%
|
27.50%
|
-
|
-
|
|
55
|
20.00%
|
25.00%
|
-
|
-
|
|
56
|
19.50%
|
-
|
-
|
-
|
|
57
|
19.00%
|
-
|
-
|
-
|
|
58
|
18.50%
|
-
|
-
|
-
|
|
59
|
18.00%
|
-
|
-
|
-
|
|
60
|
17.50%
|
-
|
-
|
-
|
|
Second Year Premium Charge
|
|
Ages
|
%
Premium Charge Premium Year* 2
|
|
15YR
|
20YR
|
25YR
|
30YR
|
|
0 -
45
|
20.00%
|
25%
|
25%
|
25%
|
|
46
|
20.00%
|
25%
|
25%
|
-
|
|
47
|
20.00%
|
25%
|
25%
|
-
|
|
48
|
20.00%
|
25%
|
25%
|
-
|
|
49
|
20.00%
|
25%
|
25%
|
-
|
|
50
|
20.00%
|
25%
|
25%
|
-
|
|
51
|
19.00%
|
25%
|
-
|
-
|
|
52
|
18.00%
|
25%
|
-
|
-
|
|
53
|
17.00%
|
25%
|
-
|
-
|
|
54
|
16.00%
|
25%
|
-
|
-
|
|
55
|
15.00%
|
25%
|
-
|
-
|
|
56
|
14.50%
|
-
|
-
|
-
|
|
57
|
14.00%
|
-
|
-
|
-
|
|
58
|
13.50%
|
-
|
-
|
-
|
|
59
|
13.00%
|
-
|
-
|
-
|
|
60
|
12.50%
|
-
|
-
|
-
|
Premium Year* 3 to 6 – 1% of regular premium for
all terms and ages.
No Premium Allocation Charge
from Premium Year 7 onwards.
*Premium Year is determined
by the number of complete
12-months period for which Regular Premium has actually been paid, excluding
any period of Premium Discontinuance.
|
|
D)
Mortality Charge – for death benefit (other than accidental
death benefit)
Mortality/COI
charges will be deducted monthly in advance from fund and will be based on
100% of Indian Assured Lives Mortality (1994-96) (Modified) Ultimate.
|
Age
|
Mortality Charges per Rs. 1000 Sum Assured
|
Age
|
Mortality Charges per Rs.1000 Sum Assured
|
Age
|
Mortality
Charges per Rs.1000 Sum Assured
|
Age
|
Mortality
Charges per Rs.1000 Sum Assured
|
|
0
|
1.295
|
21
|
1.048
|
42
|
2.510
|
63
|
18.564
|
|
1
|
0.815
|
22
|
1.077
|
43
|
2.717
|
64
|
20.566
|
|
2
|
0.645
|
23
|
1.102
|
44
|
2.971
|
65
|
22.170
|
|
3
|
0.545
|
24
|
1.123
|
45
|
3.274
|
66
|
24.171
|
|
4
|
0.445
|
25
|
1.140
|
46
|
3.627
|
67
|
27.220
|
|
5
|
0.400
|
26
|
1.153
|
47
|
4.030
|
68
|
30.598
|
|
6
|
0.390
|
27
|
1.163
|
48
|
4.481
|
69
|
34.333
|
|
7
|
0.400
|
28
|
1.168
|
49
|
4.982
|
70
|
38.459
|
|
8
|
0.400
|
29
|
1.170
|
50
|
5.532
|
71
|
43.008
|
|
9
|
0.390
|
30
|
1.171
|
51
|
6.131
|
72
|
48.016
|
|
10
|
0.415
|
31
|
1.186
|
52
|
6.780
|
73
|
53.522
|
|
11
|
0.490
|
32
|
1.224
|
53
|
7.478
|
74
|
59.566
|
|
12
|
0.590
|
33
|
1.277
|
54
|
8.225
|
75
|
66.192
|
|
13
|
0.682
|
34
|
1.348
|
55
|
9.022
|
76
|
73.443
|
|
14
|
0.742
|
35
|
1.435
|
56
|
9.864
|
77
|
81.367
|
|
15
|
0.797
|
36
|
1.538
|
57
|
10.660
|
78
|
90.011
|
|
16
|
0.848
|
37
|
1.657
|
58
|
11.488
|
79
|
99.425
|
|
17
|
0.896
|
38
|
1.793
|
59
|
12.512
|
80
|
109.662
|
|
18
|
0.940
|
39
|
1.959
|
60
|
13.732
|
|
|
|
19
|
0.980
|
40
|
2.150
|
61
|
15.148
|
|
|
|
20
|
1.016
|
41
|
2.333
|
62
|
16.758
|
|
|
|
|
E) Administration Charges
A Monthly Policy Administration Fee of Rs.
Sixty (Rs 60) will be deducted and this may be increased by up to a
maximum of 5% p.a. compound subject to prior approval from IRDA.
|
|
G) Fund Switching Charges
There are 12 free switches per policy year. After 12 free switches a
charge of Rs. 100/- will be applied on every
switch. The
fund switching charge may be revised as deemed appropriate by the Company, but shall not exceed Rs.250
|
|
I) Single
Top-Up Premium Allocation Charges
1.5% of Top-Up Premium will be deducted from single Top-Up Premium received.
|
|
J) Fund
Management Charge
|
Funds
|
Charges
p.a.
|
|
Top-50 Fund
|
1.20%
|
|
Top-200 Fund
|
1.20%
|
|
Aggressive Flexi
|
1.20%
|
|
Stable Flexi
|
1.20%
|
|
Bond fund
|
1.20%
|
|
Infrastructure Fund
|
1.20%
|
|
Large Cap Equity Fund
|
1.20%
|
|
Super Select Equity Fund
|
1.20%
|
All Fund Management Charges are
subject to revision by the company with prior approval of IRDA but shall not
exceed 1.35% per annum of the Fund value.
|
|
K) Premium
Discontinuance Charges
There are
no Charges on Premium discontinuance.
|
