Lump Sum with Conversion option
Offers life cover upto 80 years of age. In case of death of the insured, a one-time payout is made to the beneficiary.
The inbuilt conversion option for Cancer, Heart Attack and Stroke, comes at no extra premium.
In case the insured is diagnosed with any of the illnesses specified before the age of 65, he can choose to exercise the Conversion option and get a fixed percentage of the death benefit. This amount can be used to pay for special care and better treatment.
For a 30 year old healthy male (non-smoker) and a 30 year policy term, here is the premium :
- Life cover: Rs.1 Cr
- Total premium payable: Rs.9016 annually
Total death benefit: Rs.1 Crore