Flexible Pay-out Options
Income
- Nominee will receive a regular monthly income for 10 years.
- 10% of the benefit amount is payable every year in advance, with monthly instalment at the rate 0.8333% of the total benefit amount.
- Your nominee can also choose to receive the first year’s income, equal to Rs 10 lakh, as lump sum.
- After this, the monthly instalments will continue from the subsequent month for 9 years at the rate of 0.80% of the total benefit amount.
Increasing Income
- Nominee will receive an increasing regular income.
- Monthly instalments will be received for 10 years.
- The income amount will increase by 10% per annum simple interest every year.
- The total amount received by the nominee will be 1.45 times of the life cover chosen.
Lump Sum
- Nominee will receive the complete claim amount in one go.
Lump Sum plus Income
- Nominee will receive claim amount in 2 parts as decided by you while buying the policy.
- You can choose to give part as lump sum and the remaining will be paid out in equal monthly installments at the rate of 0.833% per month over 10 years.
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