The Assured Vesting Benefit increases based on the Annual Premium Band, rewarding higher premium payments with additional benefits. This means that the higher the Annual Premium, the greater the Assured Vesting Benefit, ensuring a better retirement corpus for policyholders.

If you miss a premium, you get a grace period of 30 days for quarterly, half-yearly, and yearly payments and 15 days for monthly payments. During this period, your policy remains active. If the premium is still unpaid and your policy by then has not acquired any surrender value, in that case it will actually lapse with no benefits available to you. If your policy has acquired any amount of surrender value by then, it will continue as a Reduced Paid-up policy, offering lower benefits.

Yes, you can revive your lapsed or Reduced Paid-up policy within five years from the due date of the first missed premium. To do this, you need to:

• Submit a written revival request to the insurer.
• Pay all outstanding premiums along with the applicable interest rate (currently 8.75% p.a. for FY 24-25).
• Provide any medical and financial documents required by the insurer (medical costs, if any, are borne by the policyholder).
• The insurer will review the request as per its Underwriting Policy and has the right to accept or reject the revival.

If approved, all original benefits of the policy will be fully restored.

Yes, you can surrender your policy any time after it has acquired Surrender Value. Your policy gains Surrender Value after one full policy year of premium payments, but the Guaranteed Surrender Value (GSV) is available only after two consecutive years of full premium payments. When surrendering, you will receive the higher of:

• Guaranteed Surrender Value (GSV), calculated as a percentage of total premiums paid.
• Special Surrender Value (SSV) is determined based on factors set by the insurer and reviewed annually.

Once surrendered, the policy terminates, and no further benefits will be available.

Yes, partial withdrawals are allowed three years after the policy start date, but only for specific reasons like children’s education, marriage, home purchase, critical illness treatment, disability expenses, skill development, or starting a business. You can withdraw up to 25% of the total premiums paid, with a maximum of three withdrawals during the policy term. These withdrawals do not terminate the policy or affect the sum assured on death.

Yes, you can avail of a loan against your policy once it acquires Surrender Value by using the policy as collateral. You can borrow up to 70% of the Surrender Value, with interest compounded half-yearly and reviewed annually. For active policies, the policy will not be foreclosed due to an outstanding loan. However, for other policies, if the loan plus interest exceeds the Surrender Value, the policy will be foreclosed, and no further benefits will be payable.