A) Premium Allocation Charges

This is a Premium-based charge. After deducting this charge from your premiums, the remainder is invested to buy units.

For Option I: Single Premium

Premium Allocation Charge as below will be deducted from the Single Premium received, as a percentage of the Single Premium amount:-

For Option II: Regular Premium

Premium Allocation Charge will be deducted from the Regular Premium received, as a percentage of the Regular Premium as shown below.

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.

Premium Allocation Charge on Top-Ups

B) Administration Charges:

A monthly Policy Administration Charge (depending on the Annualised Regular/Single Premium amount in the table below), will be deducted by cancelling Units at Unit Price from the Fund Value of the Policy on each Policy Monthly Anniversary.  Unit deduction will first be made from the Regular/Single Premium Fund Value, and if insufficient, then from the Top-Up Fund Value.

For Option I: Single Premium

For Option II: Regular Premium

Administration Charge will be automatically deducted.

^*This policy administration charge may be increased upto a maximum of 5%p.a compound.

C) Fund Management Charge (FMC)

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

All Fund Management Charges are subject to revision by Company with prior approval of the Insurance Regulatory and Development Authority but shall not exceed 1.35% per annum of the Fund value.

D) Fund Switching Charges

There are 12 free switches per policy year. Thereafter a service charge of Rs.100/- per switch will be applicable .The fund switching charge may be revised as deemed appropriate by the Company, but shall not exceed Rs.250.

Manual fund switching option for Single/Regular Premium would not be available on the funds where the SMART or AAA option is active and not available from Top-Up premium where AAA option is active. However manual switching option on other funds will be available at applicable charges. Automatic fund switches in the SMART option is available out of the 12 free switches.

E) Full 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 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:

For Option I: Single Premium

For Option II: Regular Premium

There are no Surrender Charges applicable on Top-up Premium Fund Value.

F) Premium Re-direction Charge

There is no premium redirection charge applicable under this product.

Premium Re-direction is not available; If SMART or Automatic Asset Allocation Option is chosen.

The Company may alter all the above charges (except 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 prior approval of IRDA and will have prospective effect.