The Schedule Met Dhan Samriddhi Unit Linked Life Insurance Plan (Non Par) UIN 117L074V02

Transcription

1 SECTION 1 Policy Number 1. Details of the Policyholder and Insured Name of the Policyholder Date of Issue Issuing Office Proof of identification Gender Name of the Insured Proof of identification Gender Date of birth of the Insured Whether age admitted Age 2. Policy Features Plan of Insurance Met Dhan Samriddhi Base Sum Assured (Rs.) Accidental Death Benefit Rider Cover Date of Commencement Date of Maturity Policy Term Premium Payment Term Single 3. Premium Summary Details of Coverage Base cover Total Single Premium* Duration of Coverage Base Sum Assured Premium Start date End date INR INR Frequency of payment Single * Total Premium is inclusive of service tax & extra premium (if any)

2 4. Investment Option Unit Linked Funds & allocation proportion Insured event upon which benefits payable Protector II Preserver II Balancer II Flexi Cap Virtue II Multiplier II Total 100% On death of the Insured prior to the Date of Maturity Upon survival of the Insured on the Date of Maturity Please refer to the Policy Terms and Conditions for full details. Special Provisions/ Options Automatic vesting of ownership option: Not Applicable 5. Nominee Details Name(s) of the Nominee 1) Relationship with the Policyholder 6. Appointee Details (Only in case the Nominee is less than 18 years of age) Appointee Name

3 SECTION 2 1. Funds The following are the six Unit Linked Funds offered with this Policy Fund Name Investment Objectives Asset Category Asset Allocation Range (%) Risk Profile Protector II (ULIF00915/12/09PROTECTOR2117) To earn regular income by investing in high quality fixed income securities Government and other debt securities Low risk instruments.^^ 0-40 Preserver II (ULIF00815/12/09PRESERVER2117) To generate income at a level consistent with preservation of capital, through investments in securities issued or guaranteed by Central and State Governments. Government & Govt. Guaranteed Securities Very low risk Balancer II (ULIF01015/12/09BALANCER2F117) To generate capital appreciation and current income, through a judicious mix of investments in equities and fixed income securities. Government and other debt securities Equities Medium risk Flexi Cap (ULIF01315/12/09FLEXICAPFN117) To generate long-term capital appreciation from an actively managed portfolio of diversified stocks across the market capitalization spectrum. Equities Very high risk Virtue II^ (ULIF01215/12/09VIRTUE2FND117) To generate long term capital appreciation by investing in diversified equities of companies promoting healthy life style and enhancing quality of life. Equities Very high risk Multiplier II (ULIF01115/12/09MULTIPLIE2117) To generate long term capital appreciation by investing in diversified equities selected from S&P CNX Nifty Index** Equities ^The investments will not be made in the equities of companies that have businesses dealing with tobacco, alcohol etc ^^ Investment in money market instruments protects the Net Asset Value (NAV) from volatile market conditions Very High risk **The Product(s) are not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL"). IISL does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the CNX Nifty Index to track general stock market performance in India. The relationship of IISL to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by IISL without regard to the Issuer or the Product(s). IISL does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the CNX Nifty Index. IISL is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. IISL has no obligation or liability in connection with the administration, marketing or trading of the Product(s). IISL do not guarantee the accuracy and/or the completeness of the CNX Nifty Index or any data included therein and they shall have no liability for any errors, omissions, or interruptions therein. IISL does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the CNX Nifty Index or any data included therein. IISL makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, IISL expressly disclaim any and all liability for any claims,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

4 An investor, by subscribing or purchasing an interest in the Product(s), will be regarded as having acknowledged, understood and accepted the disclaimer referred to in Clauses above and will be bound by it. SECTION 3 2. Schedule of Policy Charges 2.1. Premium Allocation Charge This is a premium-based charge. After deducting this charge from Your Single Premium, the remainder is invested to buy Units. Policy Year Premium Allocation Charges Year 1 3.5% Year 2 and above NIL 3.2 Policy Administration Charges The following policy administration charge would be deducted from the Single Premium Fund Value by cancellation of Units. Policy Year Policy Administration Charge (per month) Year 1 onwards Rs. 100 The above charges will be deducted at the beginning of each Policy Month by cancellation of an appropriate number of Units using the relevant Net Asset Value of these Units. The Policy Administration Charge would be deducted from the Unit Linked Funds in proportion to respective fund values available in each of the subscribed Unit Linked Funds as on the due date of deduction. 3.3 Fund Management Charge These charges are levied daily while calculating the Net Asset Value of each Unit Linked Funds on each Valuation Date. Fund Fund Management Charge Multiplier II 1.25% p.a. Virtue II 1.25% p.a. Flexi Cap 1.25% p.a. Balancer II 1.15% p.a. Preserver II 1.00% p.a. Protector II 1.00% p.a. Discontinued Policy Fund 0.50% p.a.

5 3.4 Switching Charge The first 4 switches in a Policy Year are free of charge. For each subsequent switch in the same Policy Year a Switching Charge of Rs. 250 will be levied. There will be no Switching Charges if switches are made online through Our Policyholder Portal. 3.5 Mortality Charge Mortality Charge will be deducted at the beginning of each Policy Month by cancellation of an appropriate number of Units at the relevant Net Asset Value in proportion to the respective fund value of each of the subscribed Unit Linked Funds on the date of deduction. Mortality Charge will be based on the attained age of the Insured, Cost of Insurance (CoI) and the applicable Base Sum Assured. The calculation method will be as follows: Mortality Charge = (Sum at Risk/1000) * Cost of Insurance (CoI) The Sum at Risk is defined as the Death Benefit minus the Single Premium Fund Value in the Unit Account. 3.6 Partial Withdrawal Charges The first twelve (12) Partial Withdrawal in a Policy Year will be free of any charge. For each subsequent Partial Withdrawal in the same Policy Year. We will charge You Rs The Partial Withdrawal Charge will be deducted by cancellation of Units of appropriate value. 3.7 Miscellaneous Charge We reserve the right to charge Rs. 250 for any of the following additional service requests. These charges will be effected by canceling an appropriate number of Units at the relevant Net Asset Value in proportion to the respective fund value of each of the subscribed Unit Linked Funds on the date of deduction: (a) Change in name, date of birth, address or contact details of You or the Insured; (b) Issue of duplicate Policy document on Your request; (c) Change/updation of name or other particulars of Nominee/Appointee/assignee; (d) Cheque bounce/cancellation of cheque/cancellation or fresh request for ECS; (e) Re-dispatch of Policy document or other particulars due to incorrect or outdated address details provided by You; (f) Request for ad-hoc or additional Unit statements by You; (g) Change in bank details/fund transfer requests;

6 (h) Change in amount or frequency or option during the period when the Settlement Option is in force. 3.8 Service Tax Charge This charge as notified by the Government from time to time will be made by the cancellation of appropriate number of Units at the relevant Net Asset Value. Service Tax is currently applied on all Policy Charges. Service Tax on the Fund Management Charges would be calculated while calculating the Net Asset Value of the Unit Linked Funds at each Valuation Date. Note : We reserve the right to increase or decrease any of the above charges (except Premium Allocation Charge and Mortality Charge) subject to prior approval from the Insurance Regulatory and Development Authority and by sending You notice at least 30 days in advance.