The plan provides life insurance cover throughout the lifetime of the purchaser. The benefits under the plan are for the handicapped dependent which are partly in lump sum and partly in the form of an annuity.

The premiums paid under this plan are eligible for Income Tax relief under Section 80DDA of Income Tax Act.

Premiums

Premiums are payable yearly, half-yearly, quarterly, monthly or through salary deductions, as opted by the individual, within the selected premium paying terms of 10, 15, 20, 25, 30 or 35 years or till the earlier death. Alternatively, the premiums may be paid in one lump sum (single premium).

Guaranteed additions

The policy provides for the guaranteed additions at the rate of Rs.100 per thousand sum assured for each completed policy year. The guaranteed additions will accrue up to age 65 of the life assured or till his/her death, if earlier.

Terminal Additions

This is a with-profits plan and participates in the profits of the Corporation's life insurance business. It gets a share of the profits in the form of Terminal Additions. The policy will be entitled for Terminal Additions if at least 10 years premiums have been paid. The Terminal additions would depend on the future experience of the Corporation.

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