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CASHFLOW PLAN – 25%, 25%, 100%

Introduction

While most insurance product blocks your money for a certain period of time, the FlexiCash plan gives you the double benefit of life insurance along with easy liquidity via periodical lumpsum payments when you need it.

It allows the policyholder to live life to the fullest today and at the same time stay protected by allowing for the flexibility of receiving a specified percentage of the sum assured at specified intervals.
 
Key Features
  • Easy Liquidity – Policyholder gets periodic cashflow as described below:
  • 25% of the sum assured will be paid at the end of the fourth year.
  • 25% of the sum assured will be paid mid way through the outstanding duration after the first payment i.e. (policy duration – 4)/2
  • 100% of the sum assured plus all accrued bonuses will be paid at maturity.
  • Wealth Creation – creates wealth to the policyholder through the addition of guaranteed reversionary bonus of 2% of Initial Sum Assured per annum.
  • Full Sum Assured plus accrued bonus becomes payable on death of the policyholder. This is in addition to the survival benefit already paid to date.
 
How does the plan work?
  • The policyholder pays regular premium for the entire policy duration and get survival benefit at periodical interval as explained above.
  • On death of the policyholder before maturity, the full sum assured plus accrued bonuses becomes payable to the beneficiary of the policyholder.
 
Plan Benefits
 
Death Benefit:
In the unfortunate event of death, the beneficiary will receive the full sum assured plus accrued bonuses till the date of death
 
Survival benefit:
The policyholder gets periodic payment on survival as described below:
  • 25% of the sum assured will be paid at the end of the fourth year.
  • 25% of the sum assured will be paid mid way through the outstanding duration after the first payment i.e. (policy duration – 4)/2
  • 100% of the sum assured plus all accrued bonuses will be paid at maturity.
Maturity Benefit
At maturity, the policyholder receives the full sum assured plus accumulated bonuses till maturity.
 
Discontinuance / Surrender Benefit
The plan will acquire surrender value after two full year premium have been paid and after two years have elapsed from the date of commencement of the policy.
The surrender value payable will be less total survival lumpsum payment already paid under the policy. The Insurance protection under the policy also ceases on surrender.
 
Policy Loan
No loan is available under this plan
 
Premium Payment Mode:
The policy allows for very flexible premium payment mode:
  • Annually
  • Half Yearly
  • Quarterly
  • Monthly
 
Grace Period: There is a grace period of 30 days for payment of premium
 
Minimum policy term: 6yrs
 
Maximum policy term: This will be limited to the maximum age at maturity.
Who can buy the Product?
  • Minimum age at entry: 18years
  • Maximum age at entry: 59years
  • Maximum age at maturity: 65years
 

 

 

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