Maturity Benefits
At the time of maturity, the policyholder gets the sum assured along with reversionary and terminal bonus if any. The policy acts as an insurance cover cum investment as there is a maturity benefit which the policyholder gets at the end of the policy tenure.
Death Benefits
In case of death of policyholder after all premiums have been paid, the nominees get the sum assured along with bonuses. If the death of policyholder takes place before payment of all the premiums, the nominees get the sum assured and the bonuses as payouts along the duration of the policy.
Income Tax Benefits
The maturity amount received by either the policyholder or the nominees is non-taxable. Tax exemption under 10(10D) and Tax deduction under Section 80(C) are applicable as per terms and conditions.
Add-on Riders:
To make the policy more secure, Add-on Riders for a particular aspect a policyholder feels more prone to can be added. These Riders can be accidental death cover, critical illness, disability, daily allowance in case of hospitalization, etc.