The sum assured at the time of Maturity is calculated as the SAM Factor multiplied by the Annual premium. The higher the premium amount, the higher is SAM as per the table below.

You get a grace period of 30 days (for quarterly, half-yearly, or yearly payments) or 15 days (for monthly payments) to pay. If death occurs during this time, the death benefit is paid after deducting the due premium. If the premium is not paid within the grace period:

• If the policy hasn’t acquired a surrender value, it lapses.
• If it has a surrender value, it continues with reduced benefits as a Reduced Paid-up policy.

If at least one full year’s premium is paid and no further payments are made, the policy shifts to a Reduced Paid-up status. In this case, the death benefit will be the higher of:

• The reduced sum assured plus accrued guaranteed additions, or
• The paid-up death sum assured based on policy terms.

If the life insured survives, a paid-up maturity benefit will be given. This is the sum of paid-up SAM and GA and paid-up MLA.

Yes, you can avail a loan once your policy acquires a surrender value. You can borrow up to 70% of the surrender value at the applicable interest rate, which is reviewed annually.

If death occurs due to suicide within 12 months of policy commencement, the nominee will receive the highest of 80% of the premium paid or the surrender value, provided the policy is active.

You can choose from Annual, Semi-annual, Quarterly, or Monthly payment frequencies. The premium modal factor varies depending on the chosen payment frequency:

• Annual: 1
• Semi-annual: 0.5108
• Quarterly: 0.2582
• Monthly: 0.0867.