Schedule of Policy Charges

A.     Premium Allocation Charge

No Premium Allocation Charges

B.     Top-up Premium Allocation Charge

1.5% of the Top-Up Premium

C.     Fund Management Charge

A Fund Management Charge will be charged for each fund on each valuation date at 1/365 of the following annual rates and will be applied on the total values of the investment funds as given below:

Fund

Charge per Annum

Whole Life Mid Cap Equity Fund

1.20%

Whole Life Aggressive Growth Fund

1.10%

Whole Life Stable Growth Fund

1.00%

Whole Life Income Fund

0.80%

Whole Life Short Term Fixed Income Fund

0.65%

Large Cap Equity Fund

1.20%

Infrastructure Fund

1.20%

Super Select Equity Fund

1.20%

 

D.     Mortality Charge

Mortality charge = Amount of insurance cover for the month X Applicable Mortality Charges for the month (based on the age of the Life Assured).

It is automatically deducted every month from your Regular Premium Account and Top-Up Account where the life cover is applicable.

Age

Mortality Rate per 1000 lives

Age

Mortality Rate per 1000 lives

Age

Mortality Rate per 1000 lives

0

1.943

21

1.572

42

3.765

1

1.223

22

1.616

43

4.076

2

0.968

23

1.653

44

4.457

3

0.818

24

1.685

45

4.911

4

0.668

25

1.710

46

5.441

5

0.600

26

1.730

47

6.045

6

0.585

27

1.745

48

6.722

7

0.600

28

1.752

49

7.473

8

0.600

29

1.755

50

8.298

9

0.585

30

1.757

51

9.197

10

0.623

31

1.779

52

10.170

11

0.735

32

1.836

53

11.217

12

0.885

33

1.916

54

12.338

13

1.023

34

2.022

55

13.533

14

1.113

35

2.153

56

14.796

15

1.196

36

2.307

57

15.990

16

1.272

37

2.486

58

17.232

17

1.344

38

2.690

59

18.768

18

1.410

39

2.939

60

20.598

19

1.470

40

3.225

 

 

20

1.524

41

3.500

 

 

E.     Surrender Charge

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 will be frozen as on date of surrender and shall be payable at the end of three policy years.

The following table shows surrender charge as percentage of Regular Premium Fund Value:

 

Policy Year

Charge as % of Regular Premium  Fund Value

1

100%

2

75%

3

50%

4

25%

5+

0%

There are no surrender charges applicable on the Top-up premium Account.

F.     Partial Withdrawal Charge:

There are no partial withdrawal charges under this product.

G.     Policy Administration Charge:

A monthly Policy Administration Charge of Re.1 per Rs.1000 Basic Sum Assured will be deducted by canceling Units at Unit Price from the Fund Value of the Policy. This may be increased by up to a maximum of 5% p.a. with prior approval from Insurance Regulatory and Development Authority

Additionally, there will be Sum Assured related charge of Rs. 4.25 per month per Rs.1000 of Basic Sum Assured for the first 2 policy years.

Unit deduction will first be made from the Regular Premium Fund Value, and if insufficient, then from the Top-Up Fund Value

H.    Fund Switching Charge

There are 12 (twelve) free switches per policy year. Thereafter a charge of Rs.100/- per switch will be applicable.

I.       Premium Re-direction Charge

There is no Premium Re-direction Charge.

The Company has the right to alter all the above charges (except Mortality Charge and Premium Allocation Charges which are guaranteed throughout the term) by giving an advance notice of at least three months to the Policyholder subject to the approval of IRDA and will have prospective effect.

 

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