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Transcript of Products Comparison
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 February 7,2005
MARKET ANALYSIS:MARKET ANALYSIS: INDIVIDUAL PRODUCTS
COMPANY AVIVA BSLI HDFC ICICI LIC MXNYL SBI
Products
Unit Linked P P P P P P P P P P P P P
Term P P P P P P P P P P P P P
TROP P Ï P P Ï P Ï P Ï P Ï P P
Whole Life P P P P P P P P P P P Ï P
Endowment P P P P P P P P P P P P P
Money Back P P Ï P P P P P P P P P P
SPB P P P P P P Ï P P P P P Ï
Pension P P P P P P P P P P P P P
Children's P P P P P P P P P P P P P
Loan Term P P Ï Ï P Ï Ï P Ï P Ï P Ï
Joint Life Ï Ï P Ï Ï Ï Ï P Ï Ï Ï Ï Ï
Womens Product Ï Ï Ï P Ï Ï Ï P Ï Ï Ï Ï Ï
ALLIANZ BAJAJ
AMP SANMA
R
ING VYSYA
MET LIFE
OM KOTAK
TATA-AIG
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 February 7, 2005
MARKET ANALYSIS:MARKET ANALYSIS: INDIVIDUAL UNIT LINKED PRODUCTS
COMPANY AVIVA BSLI HDFC ICICI ING VYSYA LIC MXNYL SBI
Products
Whole Life P P P P Ï P Ï Ï Ï P Ï Ï P
Endowment P Ï P P P P Ï P Ï Ï P P P
Money Back Ï Ï Ï P Ï P Ï Ï Ï Ï Ï P P
SPB P Ï P P Ï P Ï Ï Ï Ï P Ï Ï
Pension P P P P P P P Ï Ï P P P P
Children's Ï Ï P P P P Ï Ï Ï Ï Ï P P
Loan Term Ï Ï Ï Ï Ï Ï Ï Ï Ï Ï Ï P Ï
Joint Life Ï Ï P Ï Ï Ï Ï Ï Ï Ï Ï Ï Ï
Womens Product Ï Ï Ï P Ï Ï Ï Ï Ï Ï Ï Ï Ï
ALLIANZ BAJAJ
AMP SANMAR
MET LIFE
OM KOTAK
TATA-AIG
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
TERM PLANSCOMPANY BSLI ALLIANZ BAJAJ AMP SANMAR AVIVA
Product name Term Plan Risk Care Plan Raksha Shree Life Shield
FEATURES18/55 18/50 21/ 60 18/55
70 65 65 65
Term (years) 5, 10, 15, 20 or 25 5-40 5-30 5-40
Premium Paying Term Regular/Single Regular/Single Regular Regular
Premium paying mode
1,00,000/- 2,50,000/- 5,00,000/-
No limit 10 lakh No limit
Min Annual Premium - Rs. 1500 p.a. Details Not Available Rs. 2000 p.a.
Rs. 2,890/- Rs. 4490 Rs.2,350/- Rs. 2,880/-
BENEFITSDeath Face Amount Face Amount Face Amount Face Amount
Surrender Value None Only in case of single pay None None
Min/Max age at entry(years)
Max age at maturity(years)
Single pay, Yearly, Half-yearly, Quarterly
or Monthly
Single pay, Yearly, Half-yearly
Yearly, Half yearly or Quarterly
Yearly, Half-yearly, Quarterly or Monthly
Minimum Face Amount(Rs.)
2,00,000/- (RP) 2,50,000/- (SP)
Maximum Face Amount(Rs.)
The SA can be increased upto a max of 10 lakh ( SA can
be increased once by 50% upto age 40
subject to fulfilling certain conditions).
Indicative Annual Premium (Male, Age-25years ,Term-25years, FA-Rs.10 lakhs)
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
Riders Available None
Comments
1. Accidental Death & Dismemberment 2. Critical Illness (4) or Critical Illness (17)
1. Accidental Death Benefit2. Accidental Permanent total/Partial Disability Benefit 3. Waiver of Premium 4. Critical Illness 5. Hospital Cash Benefit(Economy,Protect,Health,Total)
Accident Benefit(maximum 50
lakhs)
Max age entry criteria is higher in this plan. It offers favourable premium rates for female clients. It also offers attractive rebates for large SA.
This plan offers riders in combination packs
This plan can also be taken by business firms.
Option of re-instatement is available.
This plan offers discounts for
customers opting for higher SA & to Pension Plus
policyholders. This plan offers grace
period for payment of premiums & also
the option to re-instate a lapsed
policy.
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
HDFC ICICI ING VYSYA LIC
Term Assurance Plan Conquering Life Anmol Jeevan-I
18/ 60 18/55 18/50 18/55
65 65 65 65
5-30 10-25 5-25
Regular/Single Regular/Single Regular Regular/Single
Details Not Available Details Not Available. 5,00,000/-
No Limit FDNA No Limit Rs. three crore
Rs. 1,500/- Rs. 2500 p.a. Details Not Availble.
Rs. 2770/- Rs. 2,702/- Rs. 4,127/- Rs. 2,861/-
Face Amount Face Amount
None None None
1. Lifeguard Level Term Assurance2. Lifeguard Single Premium
5-30 & 3-15 in case of 2nd plan
Single pay, Yearly, Half-yearly or
Quarterly
Yearly, Half-yearly, Quarterly or Monthly /
Single pay in case of 2nd plan
Yearly, Half-yearly, Quarterly
Single pay, Yearly, Half-yearly
FDNA for the 1st plan. For single premium
payment option, it is Rs. 2.5 Lakhs.
Rs. 2400 p.a.for the 1st plan
Face Amount (In case of Joint life policy
payable on first death)
Face Amount (If critical illness option used: The difference between SA & critical illness claim
paid, if any).
None for regular pay, not specified for
single pay
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
None
None None Inbuilt CI Rider
1. Accidental Death Benefit 2. Critical Illness3. Accelerated SA Benefit
Accident and Diability Benefit Waiver of Premium
Rider (Both these riders not available with the
single premium payment option)
1. Term Rider2. Accidental Death Rider3. Accidental Death& Dismemberment rider4. Inbuilt Critical Illness
Rebates are available for large SA & mode of premium payment.
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
LIC MAX NEW YORK LIFE
Amulya Jeevan Level Term Policy
18/60 20/50 18/60 18/55 20/60
62 55 70 60 65
6,12,18 or 24 months 5, 6 or 7 5-35 5
Single Regular Regular/Single Regular/Single Regular
Single Pay
50,000/- 50,000/- 25,00,000/- 2,50,000/- 2,50,000/-
One crore One crore No limit Rs. 5 crore Rs. 5 crore
Details Not Availble. Details Not Availble. - Details Not Available Details Not Available
Details Not Availble. Details Not Available Details Not Available
Face Amount Face Amount Face Amount Face Amount Face Amount
None None None None None
Two Yr Temp Assurance Plan
Convertible Term Assurance Plan
5 year Renewable & Convertible
5,10,15,20 or 25 or "To age 60"
Yearly, Half-yearly, Quarterly or Monthly
Single pay, Yearly, Half-yearly
Single pay, Yearly, Half-yearly or
Quarterly
Yearly, Half-yearly, Quarterly or Monthly
For a 7-yr term- Rs. 4238
For a Rs. 25 Lac SA, Rs. 6,325/-
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
None None None 1. Personal Accident Benefit2. Dread Disease Rider3. Waiver of Premium(no riders can be taken with single pay)
1. Personal Accident Benefit2. Dread Disease Rider
This plan caters to the need of individuals who want insurance
cover for a short period of 2 yrs, for instance
individuals going on a short tour.
Suitable for those who cannot afford large premiums now for
endowment or whole life plans but hope to be able to afford them in future.This plan is
convertible to endowment assurance
or limited payment whole life assurance
A 2% surcharge on half yearly mode of
payment is available. Sum Assured rebate of 0.25% is available
only on single premium having Sum Assured of 1 crore and
above.
This policy can be used to cover any outstanding debt in the form of a mortgage, home loan etc..
This plan is renewed automatically every 5 yrs or to age 65 whichever is earlier & is convertible to any permanent plan (as long the net amount at risk does not increase). It also offers attractive rates for female clients.
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
OM KOTAK MAHINDRA TATA -AIG SBI LIFE METLIFE
Kotak Term Plan Shield Met Suraksha
18/60 18/60 18/60 18/60
70 60 65 65
5-25
Regular/Single Regular Regular/Single
10,00,000/- Rs.1,00,000 50,000
No limit No Limit
Rs. 2000 p.a. FDNA 1000 p.a.
Rs. 4080/- Rs. 2180 Details Not Available
Face Amount Face Amount Face Amount Face Amount
None None None
Kotak Preferred Term Plan
Assure Lifeline Policies
10-30 for RP 5-30 for SP
1, 5, 10, 15, 20, 25 or To age 60
5, 10, 15, 20, 25 or To age 60
Regular/Single/3 yr Limited pay
Yearly, Half-yearly, Quarterly or Single Pay
Yearly, Half-yearly, Quarterly or
Monthly
Single pay,Yearly, Half-
yearly or Quarterly or
Monthly
Single Pay,Yearly, Half-yearly or
Quarterly or Monthly
Details Not Available
3,00,000 for all 3 levels of cover.
Details Not Available
Cover 1- Rs. 25 crore Cover 2-Rs. 10 crores Cover 3- Rs. 8
Crores
Decided on a case-by-case basis.
Details Not Available
Details Not Available
Single- Rs. 40273/-
Regular- Rs. 3200/-
Regular- Rs. 2300/- p.a. Single- Rs.
29,026/-
Cover 1- Level Cover- SA Cover
2- Cover increasing by 5%
p.a.- increased Available only for
Single Pay.Available only for
Single Pay.
Prepared by Product Managment COM/08/05-06/0375 July 12, 2005
Accident Benefit None
None
1. Accident Benefit 2. Permanent Disability Benefit 3. Critical Illness
1. Accidental Death Benefit 2. Permanent Disability Benefit & 3. Critical Illness
Accidental Death, Accidental Total
Permanent Disability &WOP (only for regular
premium payment mode)
Option to convert into any other Kotak plan except term Plan provided there are atleast 5 yrs before cover ceases.
This plan offers reduced premium rates for a SA of Rs. 10 lakh & above. Option to convert into any other Kotak plan except term Plan provided there are atleast 5 yrs before cover ceases.
This is a convertible plan. The one & five yr plans are
renewable without the need of a medical test.
This plan offers attractive rebates for female lives
& mode of premium
payment. It also offers the choice
of 3 levels of cover
Prepared by Product Management COM/08/05-06/0375 July 12, 2005
TERM WITH RETURN OF PREMIUM
COMPANY BIRLA SUN LIFE ALLIANZ BAJAJ AVIVA ICICI LICProduct Name Term Care Plan Amar Suraksha Secure Life New Bima Kiran
FEATURES 100% ROP 125% ROPMin/Max age at entry(years) 18/50 18/45 18/55 18/55 18/45Max age at maturity(years) 70 65 50 65 65 60
Term (years) 10, 15 or 20 15 or 20 5-40 5, 10, 15 or 20 5-25 10-30 15-30Minimum Face Amount(Rs.) 2,00,000/- 1,00,000/- 20,000/- 3,00,000/- 1,00,000/- 1,00,000/-Maximum Face Amount(Rs.) No Limit 10,00,000/- 1,00,000/- 50,00,000/- 1 crore 10,00,000/-Minimum Annual Premium Details Not Available Rs. 1500 p.a. Rs. 2400 p.a. Details Not AvailablePremium Paying Term Regular Regular/Single Regular RegularPremium paying frequency
BENEFITSDeath Face Amount Face Amount Face Amount Face Amount
Maturity
Premium Back Term Plan
Lifeguard (Level Term Assurance with ROP)
18/50-For 10 & 15 yr term 18/55-For
20 yr term
Yearly, Half Yearly, Quarterly or Monthly
Yearly, Half Yearly, Quarterly or Monthly
or Single Pay
Yearly or half-yearly
Yearly, half Yearly,
Quarterly or Monthly*
Yearly, Half Yearly, Quarterly or Monthly*
Yearly, Half Yearly, Quarterly or Monthly
Face Amount + 100% ROP
Face Amount + Loyalty Addition(Provided
policy has been in force for 4 years)
100% ROP (excluding
rider & extra
premiums)
125% ROP (excluding
rider & extra premiums)
ROP (excluding rider premiums)
ROP (excluding rider premiums)
Premium paid (Excluding rider
premiums)
ROP + Loyalty Addition + 10 years free insurance cover(both according to duration of the policy)
Prepared by Product Management COM/08/05-06/0375 July 12, 2005
Surrender Value Available after 3 years
Additional Benefits None
No No No No No
Available after 2 years, Growing SV
Available after 3 years
Available after 3 years
Available after 3 years
Guaranteed Surrender Value =30% of total
premiums excluding first & all other extra
premiums
1. Accidental Death and dismemberment 2. Critical Illness(4) or Critical Illness(17) 3. Waiver of Premium
1. Accidental Death Benefit 2. Accidental TPD 3. Waiver of Premium4. Critical illness5. Hospital Cash Benefit
1. Accidental Death and
Dismemberment Rider
1. Accident and Disability Rider 2. WOP Rider
In built Accident Benefit (restricted to 5 lakhs)
Increase/decrease in Face Amount
yes(can be increased
once by 50% s.t max of 10
lakh)
Prepared by Product Management COM/08/05-06/0375 July 12, 2005
Strengths
Weaknesses
Note- The products of Aviva mentioned above are no longer offered. Amar Suraksha is a rural plan while Secure Life is closed down. LIC's New Bima Kiran is also closed down.
1. Increasing
SV2. High Death
Benefit = FA +
100% ROP
1. Offers 125% ROP 2. Increasing Surrender value3. High death benefit = FA + 100% ROP
1. Comprehensive set of riders which can be attached anytime during the term of the policy2. Offers Single Premium option
No Medical test required
An additional option of
raising the Face Amount
by 50% subject to
maximum of Rs. 10 lakhs
Provides extended term cover for 5 yrs for 50% of the SA after maturity
of the policy.
1. Offers loyalty Additions2. 10 years free insurance3. Inbuilt accident rider
Maximum Face Amount cannot
exceed Rs. 10 lakhs
1. No riders 2. Maximum Face Amount cannot exceed Rs.1 lakh (Targeted to rural market)
No waiver of premium
No pay out incase of partial disability
1. Entry age is up to 45 years2. Maximum Face Amount cannot exceed Rs.10 lakhs
Prepared by Product Management COM/08/05-06/0375 July 12, 2005
TERM WITH RETURN OF PREMIUM
COMPANY SBI TATA- AIG METLIFE KOTAK LIFEProduct Name Swadhan Life Plus Kotak Premium Return Plan
FEATURESMin/Max age at entry(years) 18/55 18/60 18/50 18/50Max age at maturity(years) 65 80 65
Term (years) 5-10 20 15 & 20 10,15 & 20Minimum Face Amount(Rs.) 3,00,000/- 1,50,000 Rs. 2 LakhMaximum Face Amount(Rs.) 1 crore No LimitDetermined on a case by case basisMinimum Annual Premium Details Not Available Details Not Available Rs 2500 Rs. 500, 750, 1000 & 1500 per monthPremium Paying Term Regular Limited- 15 yrsRegular/Single/ 3 yr Limited RegularPremium paying frequency Monthly
BENEFITSDeath Face Amount Face Amount Face Amount Face Amount
Maturity 100% ROP
Met Suraksha- TROP
For 20 yrs plan- 70 years For 15 yrs
plan- 65 years For 10 years plan- 60
The Face Amount is based on the monthly premiums and the term of
the plan opted for. However, the max
Yearly, Half yearly, Quarterly, Monthly
Yearly, Half Yearly, Quarterly or Monthly
Single Pay,Yearly, Half Yearly, Quarterly or
Monthly, Limited
50% ROP for 5 year term & it goes on increasing by 10% each year till the end
of the term.
ROP + Guaranteed Addition of 10% of premiums paid
(excluding any paid for rider
benefits)
ROP depending on the term chosen:
Term 10= 100% ROP Term 15= 111% ROP
Term 20= 125% ROP
Prepared by Product Management COM/08/05-06/0375 July 12, 2005
Surrender Value Details Not Available
Additional Benefits No riders None
No No No No
After three years (% of premium
excluding 1st years premium)
4-6years- 60% 7-10 years- 65%
Regular Premium- Guaranteed SV is
30% of the premiums paid
excluding any rider premium at the end of 3rd yr
Single Premium-
90% of the premium at the end of 2nd yr Limited Premium- 80% at the end of
3rd yr.
Guaranteed SV is 70% of the premiums paid excluding any rider
premium at the end of 3rd yr multiplied by the percentage of
premiums returnable on maturity further multiplied by number of
policy anniversaries lapsed, divided by the original policy term.
1. Accident Benefit (Inbuilt) 2. Accidental Dismemberment Benefit
1. Accidental Death Benefit 2. Critical Illness
Increase/decrease in Face Amount
Prepared by Product Management COM/08/05-06/0375 July 12, 2005
Strengths
Weaknesses
Note- The products of Aviva mentioned above are no longer offered. Amar Suraksha is a rural plan while Secure Life is closed down. LIC's New Bima Kiran is also closed down.
Low premium rates & 5% rebate for female lives
1. Premium paying term of 15 years2. Inbuilt Accidental death benefit
Guaranteed Additon of 10% on premiums paid
Choice of three terms and three ROP options.
1. 100% (excluding 1st years premium) premium refunded only with 10 years term 2. Maximum term cannot exceed 10 years
1. No choice in policy terms- fixed at 20 years
Policy term is fixed at 15 or 20 yrs.
The Maximum Face Amount cannot exceed Rs. 10.5 Lakh.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
UNIT LINKED WHOLE LIFE PRODUCTSCOMPANY LIC ICICI BAJAJ ALLIANZ AVIVA MET LIFE
Name of Product Flexi Life Line ClassicLife Premier PrimeLife Jeevan Plus Life Time LifeTime II Unit Gain Plus Unit Gain LifeLong Gain Life Long Save Guard Met Ultimate
FEATURES
Premium type Regular and Short Pays Single Pay Regular and Single Pay Regular Regular Regular Regular Limited- 10 or 15 yrs Regular Limited pay Limited pay(10 or 20) with top-up
30 days/65years 30 days/65years 30 days/65years 0-65 yrs 0-60 0-60 0-60 18years-60 years 18years-50 years FDNA
FDNA
Not Allowed Not Allowed FDNA No
Rs. 25,000 Rs. 20,000 Rs. 18,000/- Rs. 15000 Rs. 10,000/- p.a. Rs. 10,000/- p.a. Rs.10,000/- Quote: Face Amount based
Terms To age 100 To age 100 To age 100 Whole of Life Whole of Life Whole Life Whole Life To age 100 Whole of life Whole of life To age 100
Regular and Short Pays Single Pay Regular and Single Pay Regular Regular Regular Regular Regular 10,15,20,25 & 30 yrs 10 pay or 20 pay
Rs. 10,000
5,000 / No limit 5,000 / No limit Rs. 5000/No Limit Rs. 10,000 / No limit Not Available Top-Up facility allowed. 10,000 / No limit N/A
BENEFITS
Death
Policy Fund Policy Fund Value Policy Fund Value Bid Value of units N/A N/A Not Applicable Not Applicable N/A
Withdrawals
Investment Funds
1. Protector 1. Assure 1. Preserver 1. Preserver 1. Equity Index 1. Equity
One Fund option
1. Secure Fund
One Fund option
2. Builder 2.Protector Bond Fund 2.Protector 2.Protector II 2. Debt 2. Debt 2. Growth Fund3. Enhancer 3. Builder Secured Fund 3.Balancer 3.Balancer II 3. Balanced 3. Balanced 3. Balance Fund
4. Enhancer Balanced Fund 4. Maximiser 4. Maximiser II 4. Cash 4. Cash
Growth Fund 5. Equity Plus 5. Equity Gain
Two Two Two Four Not applicable Not applicable One N/A
Not Available Not Available Not Available Not Available Yes Yes Not Available Not Available N/A
Riders AvailableNone
N/A
Single, Short pays, Regular
Age at Entry (Min/Max)
0-60( risk commences at 7 & ceases after 70)
0-60( risk commences at 7 & ceases after 70)
Face Amount (Min/Max)
50000 for minors, 75000 for adults / No Limit
Rs. 1,25,000( 5 times the Premium)/Depending on age and pay chosen, there is a max multiple of FA.
150% of the Single Premium Amount
0.5 to 10 times the SP 5 to 50 times the Annualised Premium Risk will commence either after 2 yrs from the date of commencement or from the policy anniversary coinciding with or immediately following the completion of 7 yrs of age whichever is later if age at entry of the Life Assured is less than or equal to 12 yrs.
SA chosen by the policyholder
Level I- a multiple of the anuual contribution Level II-
Increasing SA.
Min- 5 times the annual contribution Max- a multiple of the
annual premium which varies
according to age
Min- 5 times the annual contribution
Max- a multiple of the annual premium which varies
according to age
The min/max cover level may vary between
10 to 100 times the annual premium
depending upon the age at entry. 3 levels of
cover are available: Min, Std & Max or User
Defined.
10 times the annual premium subject to a max of Rs. 6,00,000
Option A: Level Death Benefit Option B: Increasing Death Benefit
Option C: Death Benefit adjusted for inflation
Change in Face Amount
Allowed once in 5 years (Minimum
amount of change is Rs. 50,000/-)
Increase allowed once every 5 years (Minimum amount of change is Rs. 50,000/-). First change
permitted after completion of first 5
Years. No decrease in FA allowed.
Yes(during special events 3 times or every 3rd yr
upto 3 times. This increase is at 25% of the original death benefit or 1 lakh whichever is lower,
each time. Also the facility to decrease the
FA.
Yes, over & above the increase in FA under Level
2 (which is an option of increasing FA option
available for ages 18 to 35- FA increases by 15% from
the beginning of 4th to 10th year s.t. a max of 3 lakhs). Also the facility to
decrease the FA.
Increase possible every 3 years upto 4 times. (Amount lower
of the 25% of the original Sum Assured
& 1,00,000), Decrease possible s.t. minimum
allowed
Increase possible every 3 years upto 4 times. (Amount lower of the
25% of the original Sum Assured & 1,00,000), Decrease possible s.t.
minimum allowed
Option to increase SA available upto 27th
policy anniversary or the policy anniversary
at which the life insured attains 67 yrs of age, whichever is earlier.
Allowed once a year anytime after three policy years. Increase would be subject to underwriting
Min Premium Payable
Quote: Face Amount based
SP- Rs. 25,000 RP- Rs. 5,000 p.a.
Rs. 18000 p.a.(Also the facility to increase or decrease the annual
contribution subject to certain conditions
Rs. 10,000/Max Rs 1,20,000
To age 75 To age 100
Premium Paying Term
Over the duration of the plan, 25, 20, 15, 10 , 5,
Single pay
Yearly, Half-Yearly, Quarterly & Monthly
Top up premium (Min/Max)
Rs. 5000/ Maximum Top-up allowed in a year is higher of the
annual premium payable or Rs
Rs. 10,000/No Limit (Top-ups allowed from day one if the Annualised Premium
is more than Rs. 10,00,000 otherwise
allowed after first Policy
Rs. 1,000/Equal to SP Rs. 1,000/ Total
premiums paid under the policy.
Face Amount + Policy Fund
Higher of Policy Fund Value or ( FA less
withdrawals made from the Policy Fund in the last 24 months preceding the death of the Life Insured)
Higher of Policy Fund Value or ( FA less withdrawals made from the
Policy Fund in the last 24 months preceding the
death of the Life Insured)
Higher of Face Amount or Bid value of units For Life
Assured of age less than or equal to 12 years before the
commencement of risk , the Bid value of units held in the
Policyholder's Account would be paid in case of death.
Higher of the chosen death benefit (less any
withdrawals) or the value of the units.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
Higher of the Face Amount or Policy Fund
Value less withdrawals. (If
younger than 7years or older than 70 yrs only the policy fund would be payable)
Higher of the Face Amount or Policy Fund Value less withdrawals. (If younger than 7years or older than 70 yrs only the policy fund would be
payable)
Higher of the Face Amount or Policy Fund Value less withdrawals. (If younger than 7years
or older than 70 yrs only the policy fund would be payable)
Higher of the Face Amount or the Policy
Fund
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of
regular premiums paid, whichever is higher.
The three death benefit options: Option A: Level Death Benefit (Higher of the 110% of PF or the FA) (PPT=10 yrs)Option B: Increasing Death Benefit (PF + FA) (PPT=20 yrs)Option C: Cost of Living AdjustmentDeath Benefit (Higher of the 110% PF or FA) Where the FA increases by 5%(simple interest) every year for 20 yrs.
Maturity/Survival/ Vesting
Policy fund value is paid. Guaranteed
Survival Benefits equal to 3% of SA every yr after the premium
payments are over till the termination of the
policy.
Policy Fund(In unitised product guarantee the
value not to fall below a certain %)
Policy Fund (Minimum guarantee of 3.5% net p.a.. Guaranteed 5% credit in the first 2 years if bought in the
year 2004. + Bonus Additions if any.
Anytime after two years.
After third Policy Year. Min amt- Rs. 25,000 subject to leaving a balance of Rs. 25,000 in the Policy Fund after withdrawal.
After third Policy Year. Min amt- Rs. 10,000 subject to leaving a balance of Rs. 25,000 in the Policy Fund after withdrawal.
Under SP & RP where less than 3 yrs premiums are paid, withdrawal is allowed subject to a minimum of Rs. 10,000 in the Unit Account. Under RP policies where atleast 3 yrs' premiums are paid, withdrawals will be allowed subject to a minimum balance of two annualised premiums in the Unit Account.
Anytime after 3 yrs without any penalty
Yes, after first 3 full years. Min withdrawal amount of
Rs. 2,000/-
After three years subject to a minimum balance of Rs 10000 across all funds. (min amount of withdrawal
is Rs 1000)
After three years subject to a minimum balance of
Rs 10000 across all funds. (min amount of withdrawal is Rs 1000)
Partial withdrawals allowed after three years subject to a
minimum balance of Rs 10000 across all funds.
(min amount of withdrawal is Rs 1000). Full withdrawals after 3
yrs.
After three years with reduction in the Face
Amount (min amount of withdrawal is Rs. 5000) subject to leaving Rs. 10000 in the policy
fund.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs.
50,000
Allowed after two policy years
Assure Protector Builder Enhancer Creator and
One fund option (will invest fully in debt
instruments)5. Creator 6. Magnifier
Fund Switch (Free Switches in a year)
Four ( min switch amount is Rs. 10000)
Four ( min switch amount is Rs. 10000)
Three (min switch amount is Rs. 5000)
Three (min switch amount is Rs. 5000)
Change in Deposit Allocation
Available- after the First Policy Year
Available- from First Policy Year
Available upto two times a year.
1. Accidental Death & Dismemberment2. Critical Illness or Critical Illness Plus3. Term benefit4. Waiver of Premium
Term Rider ADD CI CI Plus and Lady Rider
Accident Benefit Rider Critical Illness Rider 1. Critical Illness
(Accelerated) 2. Major Surgical
Assistance 3. Accident and Disability
Benefit
1. Critical Illness (Accelerated)
2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness4. Hospital Cash
Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death 2. Accidental Permanent Total/Partial Disability Benefit
3. Critical Illness Benefit 4. Hospital
Cash Benefit.
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash Benefit
Accidental Death Benefit
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
Surrender Value After three years After three years After 3 years
FDNA
Comments
Surrender after two years. No surrender charge after 4 years
Entire Policy Fund Value payable after 6 Policy Years.
Policy Fund Value less surrender Charges. No surrender charges from Policy Year 5 onwards.
Policy Fund less the surrender charges. No surrender charges from 2nd yr onwards for SP. No surrender charges for RP from two years onwards.
100% value of investments available after 3 policy years. Surrender possible after
one year
Full surrender after two years s.t. surrender
charges
Full surrender after two years s.t. surrender
charges
The USP of these three plans is the guarantee of 3% return on the policy fund net of all policy fees and charges. Also, the death benefit is higher which is Face Amount + the Policy Fund unlike other unit linked plans in the market.
3% guarantee on the Bond Fund.Benefit of Auto-Cover.
This plan has the premium holiday option. The policyholder is allocated additional units on a periodic basis. These would depend upon the total value of units in the policy & paid at the end of 4th, 8th & 12th yr subject to fulfilling certain conditions.
Cover begins at age 7 and ceases at age 70. There is the facility of automatic
cover maintenance where the policy continues even if
there is a temp break in premium payment plus the
flexibility to increase/decrease the SA
and /or the annual contribution. The
policyholder is also entitled to an additional allocation of units as mentioned in
The flexibility of Unit Gain plan comes at
very high price.
The flexibility of Unit Gain plan comes at very
high price.
Guaranteed Survival Benefits of 3% p.a.on SA is subject to any partial withdrawals made. If any such
withdrawals are made, then the 3% benefits are reduced by such
withdrawals.
LifeLong has few unique features like - It can be taken as single as well
as joint life and the Face Amount and the
premium can be indexed to inflation & a free accidental death
cover. However, the life cover expires at age 70.
Capital Guarantee on the investments made in Secure fund. Facility of partial withdrawals available only after 10
policy years.
Ø The minimum guarantee of 3.5% (net) p.a. throughout the policy term.Ø For policies issued in 2004, a minimum rate of 5% p.a. will be credited for 2 years. Ø The policy also features Bonus additions (non-guaranteed). The facility of premium holidays is also available.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
MET LIFE KOTAK LIFE INSURANCE
Met Smart Kotak Easy Growth
Limited pay(10 or 20) with top-up Single
15/70 0-60 (75 for option 2)
Not Allowed
Rs. 50000
To age 100 Whole of Life
10 pay or 20 pay Single Pay
N/A Rs. 10000/No Limit
N/A
1. Multiplier 1. Gilt Fund2. Accelerator 2. Bond Fund3. Balancer 3. Balanced Fund
4. Moderator 4. Growth Fund
5. Aggressive Growth Fund
After first 3 months (None). Unlimited
Not Allowed Not Available
None
Min 1 Lakh ( 5 Lakh for preferred life)
Max No Limit
Option 1- With five times life cover Option 2- With
one times life cover
Allowed after first 3 policy years
Quote: Face Amount plus age, gender & risk class
based
The three death benefit options: Option A: Level Death Benefit (Higher of the 100% of PF or the FA) (PPT=10 yrs)Option B: Increasing Death Benefit (PF + FA) (PPT=20 yrs)Option C: Increasing SA @ 5%Death Benefit (Higher of the 100% PF or FA) Where the FA increases by 5%(simple interest) every year for 20 yrs. Where age at death is less than 5 yrs, only PFV is paid in all three options.
Option 1- Higher of the value of units or 5 times single premium paid Option 2- Higher of value of units or guaranteed death benefit net of any withdrawals.
After first 3 months. First two partial withdrawals are
free of cost.
Allowed in part or in full anytime after 1 yr without any penalty.
(min amount is Rs. 10000 subject to leaving a balance of
Rs. 50000 in the policy fund account)
5. Protector 6. Preserver
1. Critical Illness Benefit 2. Accidental Death Benefit
3. Permanent Disability Benefit
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
FDNA Available
1. There are 6 different investment options to choose from plus the option of a premium holiday.
There are restrictions in this plan regarding the max amount of life insurance cover once the policyholder reaches 61 & the max single premium amount for minors opting for Option 1 SA.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 February 4, 2005
WHOLE LIFE PLANS IN THE MARKETCOMPANY ALLIANZ BAJAJ AMP SANMAR AVIVA HDFC ICICI ING VYSYA LIC MXNYLProduct name Unit Gain Plus Unit Gain Lifetime Care Nithya Shree Lifelong Life TimeII Rewarding Life Fulfilling Life Jeevan Tarang Whole Life with Profits Whole Life
Product type Variable Universal Life Traditional Participating Variable Universal Life Traditional Participating Traditional participating Traditional participating
FEATURES0/60 20/60 18/ 60 18/70 0/60 12/50 18/49 0/60 18/60 12/60 12/60
80 FDNA 85 (Premiums can be paid upto age 65) 100 years 80 70 FDNA 100 yrs
Term (years) Whole of Life FDNA Whole of life Till age 85 or earlier death To age 100 Whole of Life
Min Annual Premium Rs. 15000 p.a. Rs. 5000 p.a. User defined Rs. 950 per 1000 of SA Rs. 18000 p.a. Rs. 6000 p.a. Rs. 8000 p.a. N/A FDNA FDNA FDNA
FDNA 25,000/- 25,000/- FDNA FDNA 50,000/- 50,000/- 30,000/-
FDNA No Limit 5,000,000/- FDNA FDNA No limit No limit No limit No limit 1 crore
FDNA FDNA FDNA FDNA Not Allowed N/A N/A N/A N/A
RP RP 5yrs/40yrs 85/Upto maturity age SP RP 15, 20 or 25 RP N/A
Single Pay Single Pay
Investment Funds N/a N/A N/A N/A N/A N/A N/A N/A N/A N/A
BENEFITSDeath Benefit Sum Assured + Bonus Face Amount + Bonus
Maturity Benefit Not Applicable Face Amount + Bonus Face Amount + Bonus Policy Fund Value
Surrender Value After three years After three years After 6 months After 3 years After 3 years After 3 years After 3 years FDNA After 3 years
Riders Available No Riders None None None
Loan Facility N/a N/A FDNA Yes Yes Yes FDNA
Strengths Lower premium No special features Offers Spouse Rider
Weaknesses
Single Premium Whole Life Plan
Limited Payment Whole
Life
Single Premium
Whole LifeTraditional Participating
Traditional Participating
1.Unit linked 2.Unitised with profit
Traditional Participating
Traditional participating (With Profit & Without Profit)
Traditional Participating & Non participating
Min/Max age at entry(years)
15/60 for economy pack (18/50 for other
packs)
0/70 (Child below 91 days is not insured)
Max age at maturity(years)
No fixed term for the plan (cover starts at 7 &
ceases at 70)
85 (Can be extended to 99)
85 (risk cover expires at age 70).
Whole of life (cover ceases at age 70)
Open contract. Policy can be surrendered anytime after 3 years without any
charge.
Min- 10 yrs (For terminal bonus, min
term is 15 yrs.) Max- to age
To age 85. Can be extended beyond
that.
Upto age 80 or a term of 35 yrs whichever is
later.
80 yrs or 40 yrs of PPT from the DOC whichever
is later.
80 yrs or 40 yrs of PPT from the
DOC Rs. 10000 p.a.
Depends on duration. Longer
the duration, lower the
Rs. 18.42 per 1000 SA for a male aged 20- PAR policy Rs.
9.06 per 1000 SA for a male aged 20- Minimum Face Amount(Rs.)
Min- 5 times the annual contribution
3 levels of cover Minimum, Maximum & Std.Cover may vary between 10 to 100 times the annual pemium depending upon age at entry.
Level I- a multiple of the anuual contribution
Level II-Increasing SA.
1 Lakh and in multiples of Rs. 5,000/-
1,00,000 (option 1) & 1,50,000(option 2)
Maximum Face Amount(Rs.)
A multiple of the annual premium which varies
according to age
Change in Face Amount
Increase possible every 3 years upto 4 times.
(Amount lower of the 25% of the original FA or 1,00,000), Decrease
possible s.t. minimum allowed
Option to increase SA by 50% on 3
occasions like marriage, birth of first
child & birth of 2nd child
Option to increase SA available upto 27th
policy anniversary or the policy anniversary
at which the life insured attains 67 yrs of age, whichever is
earlier.
Yes (Also an option of increasing FA option
available for ages 18 to 35- FA increases by 15%
from the beginning of 4th to 10th year s.t. a
max of 3 lakhs. Premium Paying Term (years)
Short Pays (16, 20 or 24 years)
Limited Pays(10,15 and 20 years)
5-55(max prem ceasing age is
70)
RP, but can be reduced
Premium Paying Mode
Yearly, Half Yearly, Quarterly or Monthly
Yearly, Half Yearly, Quarterly or Monthly
Yearly, Half Yearly or Quarterly
Yearly, Half Yearly, Quarterly or Monthly
Yearly, Half Yearly or Quarterly
Yearly, Half yearly,Quarterly or
Monthly
Yearly, Half yearly, Quarterly or
Monthly
Yearly, Half yearly, Quarterly, Monthly, SSS
and Single Premium
Yearly, Half yearly, Quarterly or Monthly
Yearly, Half yearly,
Quarterly or Monthly
Yearly, Half-yearly, Quarterly or Monthly
1. Equity Index 2. Equity Plus3. Debt Plus4. Balanced Plus5. Cash Plus
1. Equity2. Equity Gain3. Debt4. Balanced
Unitised with profit or Unit Linked
1. Preserver2. Protector II3. Balancer II 4. Maximiser II
Higher of the PFV or the Face
Amount less the withdrawals
Higher of the PFV or the Face
Amount less the
withdraw
Face Amount + Vested Bonus
Higher of value of units or the SA+ final bonus in case of a with profits policy (If death occurs after 70, only policy fund value is paid)
Higher of PFV or the Face Amount chosen less any
withdrawals
FA + Reversionary Bonus + Terminal bonus
Face Amount + Bonus
Death during the accumulation phase- Sum Assured with vested
reversionary bonus. After the accumulation period- Sum
Assured with loyalty additions, if any.
Face Amount + Accrued Bonus + Terminal
Bonus(Only if policy was in force for 15 years)
Face Amount + Vested Bonus
Face Amount + Bonus
Option I: Face AmountOption II: Face Amount + Bonus
Face Amount + Vested Bonus
Policy Fund Value (In unitised product
guarantee the value not to fall below a
certain %)
Face Amount + Reversionary Bonus +
Terminal Bonus
% of Face Amount payable every quarter of the
premium term + Face Amount
Sum Assured plus loyalty additions, if any.
FA + Accrued Bonus + Terminal Bonus can be
paid at age 80 or on expiry of term 40 yrs
from the DOC whichever is later.
FA + Vested Bonus
Face Amount + Bonus
Option I: Face AmountOption II: Face Amount + Bonus (Payments made every year)
50% SA between 3-5 yrs60% SA between 5-10 yrs70% after 10 yrs
Full surrender possible after 2 years & partial surrender after 3 yrs (min amount is Rs.
5000 & a balance of Rs. 10000 is to be maintained in the
Partial withdrawal after 3 yrs (min amount of
withdrawal is Rs. 2000). Full surrender available
after 1 year
Guaranteed Surrender Value after completion of atleast one policy year for single pay and after three policy years and three full years' premiums are paid.
1. Accidental Death2. Accidental Permanent Total/Partial Disability3. Critical Illness4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent Total/Partial Disability3. Waiver of Premium 4. Critical Illness5. Hospital Cash Benefit * Economy, Protect, Health & Total
1. Critical Illness Benefit 2. Accident Cover
1. Accidental Death & Dismemberment2. Critical Illness & Permanent Total Disability 3. Hospital Cash Benefit
1. Critical Illness (Accelerated) 2. Major Surgical Assistance 3. Accident and Disability Benefit4. Waiver of Premium
1. Accidental Death Benefit2. Accidental death, Disability and Dismemberment3. Waiver of Premium4. Term benefit
1. Accidental Death Benefit2. Accidental death, Disability and Dismemberment3. Waiver of Premium4. Term benefit
1. Accident Benefit Rider 2. Term Assurance Rider 3. Critical Illness Rider All the above riders are available during the accumulation period only. Accident Benefit Rider is allowed for
1. Personal Accident Benefit 2. Guaranteed insurability option3. Term Rider4. WOP5. Dread Diseases6. Spouse Insurance Rider 7. Terminal Illness Benefit (Inbuilt) 8. Option to participate in progressive bonuses
Yes (loan at 90% of SV)
Yes (loan at 90% of SV)
After the policy has acquired a SV
Yes (after paying 3 yrs' premium)
Yes (after paying 3 yrs' premium)
Yes, once the policy has acquired a cash SV.
1. Capital guarantee on the Cash Fund(Cash Plus in case of Unit Gain Plus Plan)2. Number of riders available3. Flexible investment features like Multiple allocation, Switches and Top-ups
1. Compounded annual bonuses, 2. Increase in risk coverage is allowed later upto 50% of the Face Amount without any underwriting requirements3. Comprehensive set of riders
Does not offer any special feature
1. It can be purchased on joint life as well (with spouse only) first death basis2. Capital guarantee on the unitised with profit fund3. Three levels of cover4. Liquidity in the form of withdrawals
1. Withdrawals on 10th, 15th, 20th and on every 5 yearly anniversaries thereafter.2. No medical check up is required
1. Increase & decrease in death Benefit is possible2. Switch between various plan options (4 free switches, min amount of switch is Rs. 10000)3. Additional allocation of units as a % of the avg. investment value.
1. % of FA paid at intervals during the term
Survival Benefits paid at the end of the accumulated period: Vested reversionary bonus in a lumpsum. On survival to each year after the accumulation period: 5.5% of the Sum Assured.
No special features
No special features
1. Flexibility and liquidity at a very high price2. Guarantee on Cash Fund(Cash Plus Fund in case of Unit Gain Plus plan) provided the invested amt remains in the same fund throughout.3. No guarantee on other Fund options
1. No flexibility and liquidity
2. High SV 3. Other packs differ only in terms of the
riders where some or all of them are inbuilt
1. No transparency in charges2. No control over investments3. High Surrender Charge
1. Only one unit linked fund2. No Guarantee on the unit linked fund3. Bid offer spread of 5%
1. No transparency in charges2. No control over investments
1. Cover begins at age 7 and ceases at age 702. Premium Holiday can be availed for a max of 2 years at a time.
1. No transparency in charges2. No control over investments
1. No transparency in charges2. No control over investments
1. No transparency in charges2. No control over investments 3. Riders available but only during the accumulation period.
1. No transparency in charges2. No control over investments2. High Surrender Charge
1. No transparency in charges2. No control over investments2. High Surrender Charge
1. No transparency in charges2. No control over investments2. High Surrender Charge
1. No transparency in charges2. No control over investments3. High Surrender Charge
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 February 4, 2005
MET LIFE TATA AIGMet 100 Mahalife Gold
Participating
15/70 30 days/60
100 yrs 100
Whole of life Whole of Life
Rs. 2,500 p.a. FDNA
50,000/- 50,000/- 50,000/-
No limit 4,99,000 4,99,000 No limit
N/a N/a N/A N/a
15 years
Yearly, Half-yearly, Quarterly or Monthly
N/A N/a
Face Amount
Face Amount
After 3 years
Yes
Non-participating Limited Pay Whole
Pay
Participating Whole Life Limited Pay (Gold & Platinum)
0/70 (65 for PPT of 20 yrs & 60 for PPT of 25
yrs)
Rs. 2500 p.a. (exclusive of rider premium for issue ages 15 & above)
Short pays (15, 20 or 25yrs) or life(age 85 minus age at entry)
Yearly, Half-yearly, Quarterly or Monthly
Face Amount + Reversionary bonus (accrued bonus + % of Face
Amount) after 2 years + Terminal bonus after 10th policy anniversary
FA+ Cash dividends if any
Face Amount + Reversionary bonus + Terminal bonus
5% of FA paid every year from the 10th yr
onwards+ Cash Dividends from 6th
year onwards + Entire Face Amount Guaranteed SV after 3 years equal to 30% of all premiums
paid.
1. Accidental Death Benefit2. Term Rider3. Waiver of Premium & 4. Critical Illness
1. Accidental Death Benefit2. Term Rider3. Waiver of Premium & 4. Critical Illness
1. Accident Benefit2. Disability Benefits 3. Term Benefits 4. Critical Illness
Yes, after 3 yrs. (Loan available for upto 90% of the Guaranteed SV)
1. Option to convert the policy into paid up2. Reversionary Bonus
1. Option to convert the policy into paid up2. Reversionary Bonus
Annual payments after the 10th yr is a very attractive option
which makes it the best selling plan of
Tata AIG
1. No transparency in charges2. No control over investments3. High Surrender Charge
1. No transparency in charges2. No control over investments
3. High Surrender Charge
1. Rider benefits available only for 15 years2. No control over invetsments3. High surrender charge in the initial years.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
ENDOWMENT PLAN
COMPANY BSLI ALLIANZ BAJAJ AMP SANMARProduct name Flexi Save Plus Life Companion SimplyLife Save Care SP Save Care Invest Gain Shubha Shree
Product type Unit Linked Unit Linked Unit Linked Traditional participating Traditional participating
FEATURES30 days/65 0/60 12/65
80 75 60 70 70 70 for all packs 75Term (years) 15,20,25,30 and "To age 60" 10 years 10 10-40 5-40 10-40
75,000/- Rs. 50,000/- 50,000/- FDNA 50,000/- 25,000/-
No limit No Limit Rs. 5,00,000/- FDNA No limit No limit No limit
Min Annual Premium Rs. 10,000/Rs. 1,00,000 Rs. 35,300 Rs. 5000 FDNA
Single Pay
Premium Paying Term Single, Regular and Short Pay. Regular and Short Pay Regular Pay Single Pay Same as the policy term
BENEFITSDeath
Maturity Policy Fund Value FA + Bonus FA + Bonus
Surrender value After 3 years After 3 years
Loan Facility Available Yes No No
Tax Benefits Sec 80 C and 10(10D) Sec 80 C and 10(10D) Sec 80 C and 10(10D) Sec 80 C and 10(10D)
Min/Max age at entry (yrs)
30 Days/65 "To age
60"-0/40
30 Days/50 years
0/60 (risk commences at age
7)
0 /50 for basic pack 18/50 for other
packs (risk commences at age 7)
Max age at maturity(years) 5, 10, 15, 20, 25 & 30 yrs/ To
age 15, 20, 25, 30, 35, 60, 65, 70 & 80
Minimum Face Amount(Rs.)
50,000/- for minors, 75,000/- for adults
Maximum Face Amount(Rs.)
Premium Amount is selected by the Policyholder
Premium Amount/Face Amount is selected by the Policyholder
Premium Paying Frequency
Single Pay, Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly & Monthly
"To age 60"-short pay(20 Pay)
Yearly, Half yearly, Quarterly & Monthly(ECS only)
Yearly, Half yearly,Quarterly &
Monthly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half Yearly & Quarterly
Equal to the policy term or short pays
Face Amount + Policy Fund Value
Face Amount + Policy Fund Value
Policy Fund + A percentage of the Face Amount based in the
year in which death takes place.
FA(min guaranteed amount) + Accrued
Bonus
Options1. FA2. Double the FA 3. Triple the FA4. Quadruple the FA Plus bonus with each option
1. Economy-FA 2. Gold (Double of FA), 3. Diamond (Triple of FA) &4. Platinum (Quadruple of FA)
FA + Accrued bonus(If death occurs after the
prem paying term, FA + Bonuses irrespective of
the benefits already paid)
Higher of FA or policy value. If the client pays all the
premiums before 60 days from the due date, then an
additional 5% of the policy value will be added to the
Higher of the Policy Fund or aggregate of all premiums paid
subject to conditions.
FA(min guaranteed amount) + Accrued
Bonus
FA at the end of the prem paying term plus bonuses
at maturity
After 2 years. (No surrender charge after 4th year)
Can be surrendered at any point in time. No surrender
charge after 3rd year.
Can be surrendered at any point in time. No surrender
charge after 7th year.
Anytime. SV determined by the company on a fair
basis.
Surrender value as a % of premiums paid for premium paying terms:1. 2-3 years- after 1 yr 60%2. 5-6 years- after 2 years 30% Yes. Loan is 90% of
SV.Yes, after 3 yrs. Loan is 90% of the SV.
Yes, after 3 yrs' premiums have been
paid.
Sec 88 & Sec 10(10D)
Sec 88 & Sec 10(10D)
Sec 88, Sec 10(10-D) and Sec80(D) for HCB and CI
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
Riders Nil Not Applicable
Once in every five years Not Allowed Not Allowed N/A N/a Not Applicable
Strengths Contribution guarantee
Weaknesses
1. Accidental Death & Dismemberment2. Critical Illness or Critical Illness Plus3. Term benefit4. Waiver of Premium5. CI for women
Embedded Accidental Death & Disemberment Rider
1. Accidental Death Benefit 2. Accidental Total Permanent Disability, 3. Waiver of premium 4. Critical Illness and 5. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental Total Permanent Disability 3. Waiver of Premium 4. Critical Illness 5. Hospital Cash Benefit 6. Family Income Benefit
1. Accidental Death Benefit 2. Critical Illness
Increase/decrease in FA
Can increase upto 50% at marriage, birth of 1st and
2nd child without any underwriting
1. Three percent guarantee net of policy fees & charges2. High Death Benefit= FA + PFV3. No surrender charge after 4 years. 4. Short pays and regular pays available5. Liquidity: Withdrawals allowed after 3 years
1. FA guaranteed at maturity( subject to conditions). 2. Extra 5% of the policy value added to the policy fund if certain conditions are fulfilled as guaranteed additions 3. Embedded AD&D
1. Minimum Guaranteed returns at 3.54% 2. Minimum Guaranteed amount at death or maturity along with compounded annual bonuses.
1.Choice in level of risks 2.Short Pay options 3.Family Income Benefit 4.Increase in FA allowed5.Flexibility of reducing the level of supplementary death cover. 6. Attractive rebates for high SA & women policyholders.
1. Protection continues for 5 years for full SA after policy premium term 2. Rebates for high FA
1.Low Surrender Value 1. No transparency in charges2. No control over investments3. High Surrender Charge
1. Absence of WOP rider2. Low Surrender Value 3. No liquidity
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
AMP SANMAR AVIVA HDFC ICICIDivya Shree LifeBond 5 Life Saver Endowment-Unit Linked Secure Plus Save n Protect Invest Shield Life
Traditional participating Unit-Linked Unit Linked Unit linked
5/65 18/65 18/65 18/60 12/60 0/60 0/60 0/55
75 FDNA 70 70 75 75 70 7510-50 5- (To age 70) 10 - 30 10-30 10-30 Min term 10 10-30 yrs
FDNA FDNA 50,000/- Rs.1 Lakh
FDNA 20 times premium FDNA No limit FDNA
Rs. 25,000 Rs. 3500 p.a. Rs.10,000 FDNA Rs. 6000 Rs. 6000 Rs. 8000
Yrly, half yrly and Qrtrly Yearly, Half yearly & Monthly FDNA
Same as the policy term 5 yrs Same as the policy term Same as the policy term Same as the policy term
Higher of the PFV or FA Higher of the PFV or FA FA + Bonus
Policy fund value Policy Fund Value FA + Bonus
After 1 year After 2 years FDNA After 3 yrs After1 yr
FDNA FDNA No FDNA FDNA
Sec 80 C and 10(10D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D)
Endowment Assurance Plan
Unitised with profits & Unit Linked
Traditional Participating
Traditional Participating
Unit Linked with Capital Guarantee
5-35 (regular premium) 5-15 (single
premium)
Rs. 25,000 or as determined by the minimum premium
Fixed at 5 times the annual premium
3 levels of cover-Low,Medium & High.Min- 5
times premium
3 levels of cover available: Basic, Standard & Enhanced.
Rs. 5,00,000 (if age below 18) Else no limit
Rs. 2000 p.a. Rs. 25,000 Single
PremiumSingle Pay, Yearly, Half yearly, Quarterly &
Monthly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly & Monthly
Yrly, half yrly and Qrtrly
Yearly, Half-Yearly or Monthly
Same as the policy term
Same as the policy term
Same as the policy term
FA+ Accumulated Bonuses
If death occurs within 1 yr- higher of 110% of the annual premium or policy value. If death occurs after 2 yrs-
higher of SA or policy value.
FA + PFV (3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard: (Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
FA + GA @ 3.5% compounded
annually for the first 4 years + Vested
Bonus
FA+ higher of the value of Unit Fund or
the guaranteed value of the unit
fund. For age < 7, SA is not paid. Rest
part is paid.FA+ Accumulated
BonusesPFV
(In case of Unitised policy fund there is guarantee that the
selling price of the units would not fall)
Policy Fund + Investments made by the policyholder if it is more than the Policy Fund
FA + GA @ 3.5% compounded
annually for the first 4 years + Vested
Bonus
Higher of the value of Unit Fund or the
guaranteed value of the unit fund.
After 3 yrs. Min SV= 30% of premiums paid for RP
and 70% for SP
Anytime subject to surrender charges
After 3 years, 35% of all premiums paid excluding the 1st year premium, rider and
extra premiums.
Yes, once the policy has acquired a paid-up value
Yes, once the policy has acquired a paid-
up value
Yes, after the policy acquires SV.
Sec 88, Sec 10D, Sec10(10 D)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
None
Not Allowed No No FDNA Not Applicable FDNA
1. Term Life Insurance Benefit Rider 2. Accidental Death & TPD 3. Critical Conditions Rider
1. Accidental Death & Dismemberment2. Critical Illness & Permanent Total Disability
1. Accidental Death Benefit2. Critical Illness Benefit
1. Critical Illness2. Accidental Term Benefit 3. Accidental Death Benefit 4. Waiver of premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance 3. Accident and Disability Benefit4. Accident Benefit Cover5. Income Benefit 6. Waiver of Premium
1. Critical Illness2. Major Surgical Rider 3. Accidental Death Benefit4. Accident Benefit
1. Accident & Disability Benefit 2. WOP Rider 3. CI Rider
Is possible by an indexation increase determined by the
company
Inbuilt extended additional life
insurance cover for 50% of SA post
maturity provided policy is in full force
till maturity.1. Choice of 3 investment funds 2. Capital Guarantee on Secure Fund 3. Choice in Deposit Allocation
1. Can be purchased as Single life or Joint life 2. Increase in sum assured allowed (Indexation) 3.Top- ups allowed.(min top-up is Rs. 10,000) 4. Free accidental death cover
1. Low charges2. Low surrender charge 3. Top-Up facility 4. Choice of 5 investment funds with the facility to switch between funds
1. Flexible entry and exit ages
1. Guarantee of 4% bonus credit on invested premium for the 1st year2. Choice between risk covers3. Income Benefit Rider 4. Option to receive the maturity proceeds in lumpsum or in equal annual instalments over 3 or 5 yrs
1. Extended Life cover for 5 years after maturity for 50% of the FA without any medical test or extra premium, No rider benefits are available during this term
Credits in the form of additional units are paid to the policyholders as a % of the premium at various points of time during the policy term. There is also the choice of premium holiday, top-up & increase/decrease in 1. Fixed cover amount of
5 times premium1. No WOP2. No withdrawals3. No guarantee with the unit-linked fund
1. Withdrawals are allowed only when the PFV exceeds the Face Amount2. No guarantees3. High premiums for relatively low FA
1. Low SV2. No liquidity
1. Low Surrender Value 2. High premiums for relatively low FA
1. High SV2. No liquidity3. Risk cover starts at 7
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
ICICI ING VYSYA LIFE INSURANCE CORPORATIONInvestShield Cash InvestShield Gold Powering Life Safal Jeevan
Traditional participating Traditional participating
0/60 0/60 18/60 12/55 18/45 12/65 12/60 18/50 18/50 12/50
75 75 70 65 60 75 70 70 70 7010-30 yrs Limited- 5,7 & 10 yrs 10, 15 & 20 10-30 yrs 10,15 & 20 yrs 5-55 5-50 15-30 15-30 15, 20 & 25
Rs.1 Lakh Rs.1 Lakh FDNA FDNA FDNA 50,000/- 50,000/- 50,000/- 30,000/-
No Limit No Limit No limit FDNA FDNA No limit No limit No limit No limit No limit
Rs. 8000 Rs. 25,000 Rs. 24,000 FDNA FDNA FDNA FDNA
FDNA Same as the policy term Regular Regular/Single
FA + Bonus FA + Vested Bonus FA + Bonus
FA + Bonus FA + Bonus
After1 yr After1 yr After 3 years After 3 years After 3 years After 3 years After 3 years After 3 years After 3 years
No After 3 years Yes (90% of SV) Yes Yes Yes
Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D)
Reassuring Life Endowment Plan
Endowment with profit Ltd Pay End with Profits
Jeevan Mitra Double Cover
Jeevan Mitra Triple Cover
Bhavishya Jeevan
Unit Linked with Capital Guarantee
Unit Linked with Capital Guarantee
Traditional participating
Traditional participating
Traditional participating
Traditional participating
Traditional participating
Traditional participating
50,000/- for regular mode
Rs. 4000 (Rs. 6000 for with reversionary bonus
plan)
Varies from Rs. 2000 to Rs. 4000
Yearly, Half-Yearly or Monthly
Yearly, Half-Yearly or Monthly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly & Monthly
Annually, Half-Yearly & Quarterly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly,
Quarterly & Monthly
Yearly, Half yearly, Quarterly
& Monthly
Yearly, Half yearly,
Quarterly & Monthly
Yearly, Half yearly,
Quarterly & MonthlySame as the policy
termRegular (PPT ceases
at age 65)Same as the policy
termSame as the policy term
Same as the policy term
FA+ higher of the value of Unit Fund or
the guaranteed value of the unit
fund. For age < 7, SA is not paid. Rest
part is paid.
FA+ higher of the value of Unit Fund or
the guaranteed value of the unit
fund. For age < 7, SA is not paid. Rest
part is paid.
FA + Reversionary Bonus + Terminal
Bonus
FA+non-guaranteed bonus, if any.
Double the FA + Vested Bonus
(Double Accident Benefit is opted
for, triple the amount of FA)
Three times the FA +
Vested Bonus
FA + Vested Bonus
Higher of the value of Unit Fund or the
guaranteed value of the unit fund.
Higher of the value of Unit Fund or the
guaranteed value of the unit fund.
FA + Reversionary bonus + Terminal
bonus
FA+non-guaranteed bonus, if any.
FA + Vested bonus+ Final additional
bonus,if any
FA+ Vested bonus FA + Vested bonus
FA + Vested bonus
After 3 years, (Not below 30% of the
total premium paid(excluding 1st years premium and any extra premium
Yes, after the policy acquires SV.
After 2 yrs premiums are paid
No loan for policies issued to minors until
vesting
Sec 88, Sec10(10 D)
Sec 88, Sec10(10 D)
Sec 88, Sec10(10 D)
Sec 88, Sec10(10 D)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
None None None None
N/A N/A N/a N/a N/a N/a N/a N/a N/a N/a
1. Short pays offered Inbuilt accident cover
No WOP Rider
1. Accident & Disability Benefit 2. WOP Rider 3. CI Rider
1. Accident & Disability Benefit 2. CI Rider
1. Term 2. Accidental Death Benefit 3. Accidental Death & dismemberment4. Waiver of Premium
1. Accidental Death Benefit2. Accidental Death Dismemberment 3. Waiver of Premium 4. Term Benefit
1. Accident Benefit2. Inbuilt Disability Benefit
Inbuilt Accident Benefit
Apart from the additional benefits in InvestShield Life, this plan also offers the option to withdraw upto 10% from the Unit Fund from 6th yr onwards.
1. Choice of maturity term & PPT 2. Additional credits for policyholders 3. Top- Up Facility 4. Flexible contribution
1. Bonuses can be encashed before
maturity.
1. Inbuilt Disability Benefit
2. Bonuses declared every year can be
paid before maturity
1. No special features
1. Death Benefit is twice the FA
1. Triple the FA as Death Benefit
No special features
1. Few terms possible2. Low surrender value 3. No liquidity
1. High surrender charge2. No transparency in charges
1. High surrender charge2. No transparency in charges
1. High surrender charge2. No transparency in charges
1. High surrender charge2. No transparency in charges
1. High surrender charge2. No transparency in charges
1. High surrender charge2. No transparency in charges
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
LIFE INSURANCE CORPORATION MXNYLJeevan Anand Jeevan Sathi Jeevan Saral New Janaraksha Jeevan Pramukh Jeevan Shree-I Life Gain Plus To Age 60 policy
Traditional participating
18/65 20/50 FDNA 12/60 18/50 18/65 0/17 18/65 0/55 91 days/ 50 years
75 70 65 70 70 75 65 75 75 605-57 15-30 10-40 10-35 12-30 5,10,15,20 & 25 25-50 5-25 20 & 25 years To age 60
1,00,000/- 50,000/- 30,000/- 1,00,000/- 30,000/- 10 Lakhs 50,000/- Rs. 5,00,000 50,000/- 1,00,000/-
No limit No limit No limit No limit 10,00,000/- No limit No Limit No limit 5 crore
FDNA FDNA FDNA FDNA FDNA FDNA FDNA
Limited
FA
FA + Bonus Double the FA 110% of the FA + Bonus
After 3 years After 3 years After 3 years After 3 years After 1 yrs After 3 years
Yes Yes Yes Yes No Yes
Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D)
Double Endowment
Without Profits
Deferred Endowment
Traditional participating
Traditional participating
Traditional non-par
Traditional participating
Traditional participating
Keyman Insurance Plan
Traditional Children's Plan
Traditional Participating
Traditional participating
No Limit. Should be in multiples of 1
lakh.
Upto age 49- Rs 250 p.m. Age 50 & above-
Rs. 400 p.m.Yearly, Half yearly,
Quarterly & Monthly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly
& Monthly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly &
Monthly
Yearly, Half yearly, Quarterly &
Monthly
Yearly, Half yearly, Quarterly &
Monthly
Yearly, Half yearly, Quarterly &
Monthly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly & Monthly
Same as the policy term
Same as the policy term
Same as the policy term
Same as the policy term
Same as the policy term
For 20 yr policy-6,10 yrs For 25 yr policy-
6,10, 15 yrs
Same as the policy term
FA + Vested Bonus. If death
occurs after PPT, FA is paid.
Death of one: FA is paid + WOP & FA +
Bonus paid at maturity. Death of both: Equivalent
benefits paid.
250*Monthly premium + ROP(excluding 1st
year and extra premium) + Loyalty
Additions
FA+ Accrued Bonus
SA+Accured Guaranteed
Additions+Accrued Simple
Reversionary Bonus+Final
Additional Bonus, if
If death occurs within deferment
period, refund of all premiums without
any deduction. After deferment
period, SA is paid.
FA+Accured Bonuses+Accured
Guaranteed Additions @ Rs. 50 per 1000 FA for the
first five years
Before age 10 years- ROP with interestBefore completion of 5 policy years-FA + BonusAfter 5 policy years- Double FA+ Bonus
FA + Bonus (If below 18, ROP with interest)
FA + Vested bonus at the
end of premium
paying term
Maturity Face Amount + Loyalty Additions
FA + Accrued bonus
SA+Accured Guaranteed
Additions+Accrued Simple
Reversionary Bonus+Final
Policy vests in the name of the child
on his/her becoming major
FA+Accured Bonuses+Accured
Guaranteed Additions @ Rs. 50 per 1000 FA for the
first five years
FA + Bonus + Terminal bonus if any
After 3 years. GSV or Special SV (Discounted Maturity SA-If < 4 yrs 80%, 4th yr 90%, > 5 yrs 100% of the MFA)
After 3 yrs, SV is 90% of the
premiums paid
After 3 yrs, GSV is 90% of the
premiums paid for SP and 30% for RP
After 3 years(min 30% of the premiums paid,
excluding first year's premium)
Yes, after the policy acquires a Paid Up
Value.
Available upto 90% once the policy acquires cash SV
As soon as the policy acquires a cash SV.
Sec 88, Sec10(10 D)
Sec 88, Sec10(10 D)
Sec 88, Sec10(10 D)
Sec 88, Sec10(10 D)
Sec 80 C and 10(10D)
Sec 80 C and 10(10D)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
None None Not Available. WOP Rider ADD & Term Rider
N/a N/a N/a N/a N/a Can be done N/A Not Allowed N/a N/a
Inbuilt Double Accident
Benefit during the prem
paying term, till age 70
1. Accident Disability Benefit2. Term Assurance Benefit
Inbuilt Accident/Permanent Disability(double FA + bonus)
1. Accidental Death Benefit2. Accidental Death or Dismemberment3. Term4. Term R&C5. Payor Benefit (before age 18)6. WOP (after age 18)
1. Dread Disease2. Personal Accident Benefit3. Term4. Payor Benefit (before age 18)5. WOP (after age 18)6. Terminal Illness Benefit (Inbuilt)
1. Short pays possible (5-57 years)2. Additional FA paid if death occurs after the PPT3. Inbuilt Accident Benefit
1. Two lives (spouses) are covered.2. Cost efficient 3. FA is paid in case of first death and the policy continues with all its benefits
Premiums vary acc to the term of years, Premium paying term can be pre decided
1. Loyalty Additions2. Low surrender charge3. Flexibility in term
1. Risk cover can continue for 3 yrs even when the premiums are not paid (Provided 2 years prem have been paid)
1. Guaranteeed Additions @50% for the first five completed years. 2. Participation in profits from 6th year onwards.
Deferment at age 18 or 21
1. Attractive Death benefit after 5 policy years2. Bonus can be encashed before maturity or can be used to offset premium payments3. Four bonus options
1. Terminal Bonus2. Bonus can be encashed before maturity3. Four bonus options4. Terminal Illness Benefit
1. High surrender charge2. No transparency in charges
1. Only women belonging to category I can be insured2. No riders available3. No liquidity & No transparency in charges
1. High surrender charge2. No transparency in charges
1. No transparency in charges2. No control over investments3. High premiums for relatively low FA
1. High Surrender charge2. No transparency in charges3. No control over the investment
1. Low Surrender Value 2. No riders available
1. High Surrender charge2. No transparency in charges3. No control over the investment
1. High Surrender charge2. No transparency in charges3. No control over the investment
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
MXNYL MET LIFE OM KOTAK SBI TATA-AIGMet Saral Kotak Safe Investment Plan Sudarshan Invest Assure
Traditional participating Unit Linked Unit Linked Traditional participating Unit Linked
20/50 15/60 15/50 18/65 18/65 18/65 30 days-60 yrs
70 75 60 75 75 FDNA FDNA20 5 & 10 yr 10-30 10-30 10-30 15, 20 and 30 years
1,00,000/- Rs 1 Lakh ( Fixed) FDNA FDNA FDNA
5 crore FDNA FDNA FDNA
Rs. 2500 FDNA FDNA FDNA FDNA
Yearly, Half yearly, Quarterly Yearly, Half yearly, Quarterly
Same as the policy term Regular Same as the policy term FDNA
SA Higher of the FA or the PFV
SA FA + Bonus Additions Policy Fund Value
After 3 years Not Available After 3 years After 3 years FDNA
Not Available After 3 years After 3 years FDNA FDNA
Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D)
20 Years Endowment Participating Policy
Met Suvidha PAR & Non-PAR
Kotak Safe Investment Plan II
Om Kotak Endowment Plan
Traditional participating & non
PAR
Traditional non PAR
Traditional participating
12/62 for regular premium & 12-65
for single premium
15-30 yrs (5-30 for non PAR)
8-30 for regular premium & 5-30
for single premium
75,000/- for silver, 2,25,000 for gold
& 2,50,000 for platinum
Fixed SA (Option A) Increasing SA(Option B)
FA based on a multiple of the annual premium. Either 100% or 50% of the multiple can be chosen depending on age at
entry2,24,999/- for
Silver, 3,49,999 for Gold & No Limit for
PlatinumFor a male aged 20, premium rate is 52.36 per
1000 SA
Rs. 10000 p.a. (Rs 50000 for limited premium payment
mode)
Min regular premium is Rs. 12000
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly &
Monthly
Yearly & Half- Yearly
Yearly, Half yearly & Quarterly
Yearly, Half yearly, Quarterly
& Monthly
Yearly, Half yearly, Quarterly & Monthly
Single, Regular & Limited( 5 & 10
Pay)
Regular/Limited/Short pays of 3,5,7,10 or 15 yrs
Regular/Limited/Short pays of 3,5,7,10 or 15 yrs
Same as the policy term
FA + Non Guaranteed Bonus
FA + Reversionary Bonus + Terminal Bonus (100% SA
for non PAR)
Higher of the FA or the Policy Fund Value + value of units in the Supplementary
Account
Higher of the value in the Accumulation Account or
the SA
Option A: SA+vested bonus
Option B: Increasing SA at 5% along with vested bonus
Higher of the PFV or the FA less the partial withdrawals. (If age at the time of death is
less than a year 20% of the FA is paid. Similarly, if it is 1, 2 or 3 years, 40%, 60% & 80% of
FA + Non Guaranteed Bonus
FA + Reversionary Bonus + Terminal Bonus (100% SA
for non PAR)
Higher of the FA or the Policy Fund Value
Higher of the FA or the Policy Fund Value + value of units in the Supplementary
Account
Option A: SA+vested bonus
Option B: Increasing SA at 5% along with vested bonus
After 3 years & increasing thereafter if the policy is in
full force
Partial withdrawal after 1 yr & complete surrender after 3
yrs
After 6 years without any surrender penalty
Yes, once the policy acquires a cash SV
90% of the SV after 3 yrs
Yes, at any point of time. Loan amount is 50% of the SV subject to a minimum
amount of Rs. 10000
Sec 88, Sec10(10 D)
Sec 88, Sec10(10 D)
Sec 88, Sec 10(10D), 80D
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
FDNA None None
N/a FDNA N/A Not Available Not Available N/a
1. Personal Accident Benefit2. Term rider 3. Dread Disease Rider
1. Term/Preferred Term Benefit2. Accidental Death Benefit 3. Permanent Disability Benefit4. Critical Illness5. Life Guardian Benefit &6. Accidental Disability Guardian Benefit
1. Term/Preferred Term Benefit2. Accidental Death Benefit 3. Permanent Disability Benefit4. Critical Illness5. Life Guardian Benefit &6. Accidental Disability Guardian Benefit
1. Accidental Death Benefit 2. Term rider 3. Permanent Disability Benefit 4. Critical Illness 5. Life Guardian Benefit 6. Accidental Disability Guardian
1. Term benefit2. Critical Illness3. Accidental Death & 4. Total Permanent Disability
Min amount of lumpsum is Rs. 10000. Lump-sum
injection can be made at any point of time.
Increasing Face Amount option
1. Bonuses can be used to offset future premiums, or buy a term insurance policy, to increase the FA, Encash it or let it accumulate.2. Terminal Illness Benefit, 50% of the benefits payable s.t. 5 lakhs
Terminal Bonus is also paid
Convenient way to get SA of 1 lakh
without any medical or
underwriting requirements
1. Minimum guarantee of FA2. Premium Holiday3. Comprehensive set of riders
1. Short pays (3,5,7,10& 15 years)
2. Automatic cover maintenance
1. Short pays (3,5,7,10& 15 years)
2. Automatic cover maintenance
1. Option of increasing FA (By 5% every year), 2. Women get 5% rebate3. 30 day money back guarantee
1. Five investment Fund options2. Flexibility in Investments3. No surrender charge after the 6th year
1. High Surrender charge2. No transparency in charges3. No control over the investment
1. No bonus declared for first 2
years 2. Bonuses paid
only at maturity or earlier death,
3. High Surrender Charge
1. No Liquidity2. Bid offer spread
1. High Surrender charge2. No WOP
1. High Surrender charge2. No WOP3. No liquidity
1. High Surrender charge2. No transparency in charges3. No control over the investment
1. No riders2. Withdrawals would be s.t. surrender charge3. Premium Holiday is charged4. High Charges
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
TATA-AIGStarkid Shubhlife
Child Policy
12/65 30 days- 8 yrs 18/65
FDNA FDNA FDNA10 yrs 10,15,20,25 & 30 yrs
FDNA FDNA FDNA
FDNA FDNA FDNA
FDNA FDNA
FDNA
FDNA FDNA
FA + Bonus + GA FA+ vested bonus
FA + Bonus + GA FA+ vested bonus
FDNA FDNA FDNA
FDNA FDNA Yes
Sec 88, Sec10(10 D) Sec 88, Sec10(10 D) Sec 88, Sec10(10 D)
Assure Security and Growth Plans
Traditional participating
Traditional participating
10, 20 & 30 or upto age 60
Yearly, Half yearly, Quarterly & Monthly
Spread over the term of the policy or short
pays
Death before PPT- WOP Death after PPT
& before the child turns 18, 50% SA is
paid.
20% SA at age 18,19,20,21 &
22+guaranteed addition equal to 50%
of the premium
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005.
FDNA
FDNA FDNA FDNA
1. Accident Benefit2. Disability Benefit
1 Accidental Death 2.
Accidental Death & Disembursement 3. Term
Rider 4. CI Rider
1. Guaranteed Additions
Not enough data to comment on
Flexibility in PPT & term of the policy.
Guaranteed Additions at 3% p.a. from yr 1 payable every 2 yrs upto half the policy
term
For the policy to be eligible for bonus, it must be in force for atleast 10 yrs.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANY BSLI AMP SANMAR ALLIANZ BAJAJ HDFC ICICI ING VYSYAProducts Flexi Cash Flow Life Companion Dhana Shree Cash Gain Money Back Plan Cash Plus Cash Bak Maximizing Life
Product type Unit linked Unit Linked Traditional participating Traditional participating Traditional participating Unit linked Traditional participating
FEATURES30 days/65 30 Days/65 15/63 12/60 0/60 16/55 12/49
Max Maturity Age 75 75 70* 70 75 75 70* 65Term (years) 10-25 16,20,24 & 30 7 & 34 15, 20, 25 & 30 10-30 10-30 15 & 20 16, 20 & 24
75,000/- 25,000/- FDNA FDNA 75,000/- FDNA
No Limit No Limit No Limit No Limit FDNA FDNA No Limit FDNA
BENEFITSDeath FA + Policy Fund FA + Bonus FA + Bonus FA + PF FA + GA + Bonus FA + Bonus
Survival
Surrender Value After 2 years FDNA FDNA After 3 years
Riders
Policy Loan Yes No Not Available Not Available N/a Yes N/a Yes
Strengths
Traditional participating
Min/Max age at entry(years)
12/55 depending on the term & the package
chosen.
Minimum Face Amount(Rs.)
75,000/- (50,000/- for minors)
Rs. 50,000 for all packages
Maximum Face Amount(Rs.)
Premium paying frequency
Single Pay,Yearly, Half yearly,Quarterly or
Monthly
Yearly, Half yearly,Quarterly or Monthly, Short Pay
Yearly, Half-yearly & Quarterly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly or Quarterly
Yearly, Half yearly,Quarterly or
Monthly
Yearly, Half yearly,Quarterly or Monthly
Yearly, Half yearly,Quarterly or
Monthly
Face Amount + Policy Fund Value
1. Economy-FA 2. Gold (Double of FA), 3. Diamond (Triple of FA) &4. Platinum (Quadruple of FA)
Withdrawals possible after 3 policy years. In
addition a specific percentage of FA is made available for
withdrawals after every 5 years.Policy Fund is paid
at maturity.
Percentage of FA paid at the end of every year is
as follows: 16 year term-10%(4th yr) and 20%(8th & 12th yr) &
50% on maturity. 20 year term-10%(4th & 8th yr), 15%(12th & 16th yr) & 60% on maturity.
24 yr term-10%(4th,8th,12th,16th &
20th yr) and 80% on maturity.
At the end of 4rth year from risk commencement a % of FA and thereafter every 3 years a specified
amount is paid + Remaining % of FA +
vested bonus for full term at maturity
FA paid in 5 instalments. Total payout 125%
of FA + Bonus
Percentage of FA is paid every 5 years.
10 year term- 40%15 year term- 30%20 year term- 25%25 year term- 20%
30 year term- 15%
PF+ Investment made if more than the PF +
Option of withdrawing upto 10% of the PF after
the first 5 years.
Regular payments:1. 15 yr term (In the 3rd, 6th, 9th and 12th yr) 2. 20 yr term (In 4th, 8th, 12th and 16th yr) In the order of 10%, 15%, 20% & 25% 50%FA, GA + Bonus at maturity
Percentage of Face Amount paid every
1/4th of the period of the term chosen.
40% of the SA is paid
on maturity.
Can be surrendered at any point in time. No
surrender charge after 3rd year.
GSV is 30% of all premiums paid. In case of surrender after the first
survival benefit is received, is 30% after
receiving the said benefit.
After 3 years. GSV will be 35% of premiums paid (Excluding the 1st year, rider & extra
premiums).
After 3 yrs GSV is 20%
of total full yrs' premiums paid less 20% of all survival
benefits paid.
1. Accidental Death & Dismemberment2. Critical Illness or Critical Illness Plus3. Term benefit4. Waiver of Premium5. CI for women
Embedded Accidental Death & Disemberment Rider
1. Critical Illness Rider2. Accident Cover
1. Family Income Benefit2. Accidental Death Benefit3. Accidental Permanent Total/Partial Disability Benefit4. Waiver of Premium5. Critical Illness Benefit6. Hospital Cash Benefit
1. Critical Illness2. Double Face Amount3. Accidental Death Benefit4. Waiver of Premium
1. Critical Illness (Accelerated), 2. Major Surgical Assistance Rider3. Accident and Disability Benefit Rider4. Accident Benefit Cover 5. Income Benefit Rider 6. Waiver of Premium Rider
1. Accident & Disability Benefit 2. Critical Illness 3. Major Surgical Assistance
1. Accidental Death Benefit 2. Accidental Death, Disability & Dismemberment 3. Waiver of Premium 4. Term Benefit
1. Liquidity: Withdrawals possible anytime after 3 years2. No surrender charge after 4 years3. High upside potential with a minimum guarantee of 3%
1. FA guaranteed at maturity(subject to conditions). 2. Extra 5% of the policy value added to the policy fund if certain conditions are fulfilled as guaranteed additions
1. Bonus is paid on the entire Face Amount irrespective of the survival benefits2. Rebates for high Face Amount
1. Different levels of risk cover2. Comprehensive set of riders including FIB & HCB
FA + Bonus paid as death benefit irrespective of the
earlier payouts
1. Guarantee of 4% bonus credit on invested premium for the 1st year2. Choice between risk covers3. Income Benefit Rider
GA @ 3.5% compounded annually for the first 4 years
Option to let the bonus accumulate and earn interest, or receive it in cash or adjust it against future premiums
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANY BSLI AMP SANMAR ALLIANZ BAJAJ HDFC ICICI ING VYSYAProducts Flexi Cash Flow Life Companion Dhana Shree Cash Gain Money Back Plan Cash Plus Cash Bak Maximizing Life
Weaknesses
N/aRP & SP
N/a
After 3 yearsAccident Benefit
N/a
1. Payments on fixed intervals only2. No transparency in charges 3. No control on the investments
1. Payments on fixed intervals only2. No transparency in charges 3. No control on the investments
1. Payments on fixed intervals only2. No transparency in charges 3. No control on the investments
1. Low Surrender Value 2. High premiums for relatively low FA
1. Payouts on fixed intervals only2. Low surrender Value3. No control over investments
1. Low Surrender Value 2. Payouts at fixed intervals
Single pay, Yearly, Half yearly, Quarterly
or Monthly
10% of Face Amount every 5 years from commencement +
Vested Bonus + Additional Bonus
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANYProducts
Product type
FEATURES
Max Maturity AgeTerm (years)
BENEFITSDeath
Survival
Surrender Value
Riders
Policy Loan
Strengths
Min/Max age at entry(years)
Minimum Face Amount(Rs.)Maximum Face Amount(Rs.)
Premium paying frequency
LIC MET LIFEJeevan Rekha Jeevan Surabhi Jeevan Bharati Bima Gold Bima Bachat Met Sukh Met Bhavishya
Traditional Participating Traditional Traditional Traditional non PAR
13/65 14/58 13/50 14/55 18/50 14-63 15-66 15/55
N/a 70 70 70 70 75 75 75 FDNAWhole of life 12, 15,20 & 25 20 & 25 15, 20 & 25 15 & 20 yrs 12, 16 and 20 years 9, 12 and 15 years 20 FDNA
2,00,000/- 40,000/- 40,000/- 40,000/- 50,000 Rs. 40,000/- Rs. 20,000/- 50,000/-
No limit No Limit No Limit FDNA 25,00,000 No Limit No Limit
FDNA Single Pay
FA + Bonus Sum Assured Sum Assured SA+WOP
After three years FDNA FDNA FDNA After 3 years After 3 years FDNA
Accident Benefit FDNA None
N/a N/a FDNA N/a Yes Yes FDNA
Auto-Cover Facility. Guaranteed Additions
Jeevan Samriddhi
Money Back Policy Traditional
participating
20/50 for parent Option A: 0/8 Option B:0/12 for
1 Lakh (min annual premium Rs 6000)
No Limit ( SA in multiples of Rs. 5,000)
No Limit ( SA in multiples of Rs. 5,000)
Yearly, Half yearly,Quarterly or
Monthly
Yearly, Half yearly,Quarterl
y or Monthly
Yearly, Half yearly,Quarterly
or Monthly
Yearly, Half yearly,Quarterly or Monthly
Yearly, Half-Yearly, Quarterly, Monthly or
through salary deductions.
Yearly, Half yearly,Quarterly or
Monthly
Yearly, Half yearly,Quarterly
Face Amount + Vested bonus + Additional bonus
FA + Guaranteed Addition +
Loyalty Addition
FA + Reversionary Bonus + Terminal Bonus
SA+ Guaranteed Additions at 50 per 1000 SA for 1st 5
yrs + Bonus
FA + Guaranteed Additions
10% of Face Amount every 5 years from commencement +
Vested Bonus + Additional Bonus
Fixed % of FA at specified
intervals depending
upon the term + balance FA +
Guaranteed Addition +
Loyalty Addition at maturity
Regular payments:1. 20 yr term (In the 5th, 10th & 15th year), 2. 25 yr term (In the 5th, 10th, 15th & 20th year) Plus balance 40% & bonus at maturity.
Regular payments:1. 15 years term- 30% of the Face Amount (after 4th and 8th year), 2. 20 & 25 years term- 25% of the Face Amount (after 4,8,12 & 15th year ) Plus bonus at maturity for 20& 15 years term and at the end of 18th year for 25 year term.
20% SA at the end of 5/10 yrs for 15 yr term (balance payable on maturity+GA+Bonus) 20% SA at the end of 5/10/15 yrs for 20yr term (balance payable on maturity+GA+Bonus
For policy term 12 yrs- 15% of SA at the end of 4th & 8th policy year. For policy term 16 yrs- 15% of SA at the end of 4th, 8th and 12th policy year. For policy term 20 yrs- 10% of the SA at the end of each 4th, 8th, 12th and 16th policy year. Payment of total amount of premiums paid plus Loyalty Additions, if any, less the amount of survival benefits paid earlier on maturity.
For policy term 9 yrs- 15% of SA at the end of 3rd & 5th policy year. For policy term 12 yrs- 15% of SA at the end of 3rd, 6th and 9th policy year. For policy term 15 yrs- 15% of the SA at the end of each 3rd, 6th, 9th, 12th policy year. Payment of single premium paid (excluding any extra premium) plus Loyalty Additions, if any, will be paid on maturity.
20% of FA at the interval of 5 years & 40% + Guaranteed
Additions at maturity
Certain % of SA is paid out at specific
ages of the child plus Guaranteed Additions
of 50 per 1000 SA+terminal additions
of 20% of the guaranteed additions
provided for every premium paid yr
After 3 years. Guaranteed Surrender Value is 30% of
the total amount of premiums paid excluding
first year's and rider premium.
Available after one Policy Year. This Surrender Value is
equal to 90% of the single premium paid ( excluding
any extra premium).
Accident Benefit @ 1Re. Per thousand Face Amount s.t max of 10
lakhs
Accident Benefit (upto 5 lakhs)
Female CI Rider Congenital Disability
Benefit Inbuilt Double Accident Benefit
Accident Benefit Rider and Accidental Death and
Disability Rider
1. Accidental Death Benefit 2. Term Rider3. Waiver of Premium 4. Critical Illness
1. Accidental Death Benefit 2. CI (10) Rider 3. WOP Rider 4. Term Rider
No but housing loan available
Yes, after the policy acquires a paid-up value.
1. Combination of Whole Life and Money Back plan
Guaranteed Additions
1. Short premium paying term2. Risk cover increases every 5 years
Special plan designed for women Option to receive maturity proceeds in the form of an annuity Free insurance cover for 3 yrs if 1st 2 premiums are paid Option to encash survival benefits as & when needed.
Single Pay money back policy.
Guaranteed +Terminal Additions
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANYProducts
Weaknesses
LIC MET LIFEJeevan Rekha Jeevan Surabhi Jeevan Bharati Bima Gold Bima Bachat Met Sukh Met BhavishyaJeevan
SamriddhiMoney Back
Policy1. No transparency in charges2. No control over investments2. High Surrender Charge
1. Limited liquidity: Amounts paid at fixed intervals only2. No transparency in charges3. No control over investments
1. Limited liquidity: Amounts paid at fixed intervals only2. Low Surrender Value
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANYProducts
Product type
FEATURES
Max Maturity AgeTerm (years)
BENEFITSDeath
Survival
Surrender Value
Riders
Policy Loan
Strengths
Min/Max age at entry(years)
Minimum Face Amount(Rs.)Maximum Face Amount(Rs.)
Premium paying frequency
OM KOTAK SBI TATA AIGMoney Back Plan Young Sanjeevan Sanjeevan Money Back Policy Scholar II Sanjeevan Supreme Nirbhay Life
Traditional participating Traditional participating Traditional participating Traditional participating
18/60 25/60 40/65 15/60 18/60 (50 for Option D) 30 days- 55 yrs 6-55 years
75 70 75 70 70 75 75 7515, 20 & 25 10 10, 15 &20 10,15,20 or 25 yrs to age 21 of the child 10,15,20 or 25 yrs 21 12, 15 and 20 years
FDNA 50,000/- 1,00,000/- 50,000 50,000 50,000 Rs. 50,000 Rs. 50,000/-
No Limit 10 lakhs 10 lakhs 5 crore 1 crore 5 crore No Limit Rs. 4,00,000/-
Single Pay Single pay
SA+Bonus+WOP SA+ vested bonus Face Amount
FDNA FDNA FDNA FDNA FDNA
None
N/a Fund Value FDNA FDNA FDNA FDNA FDNAYes
Assure 21 yrs Money SaverTraditional
ParticipatingTraditional
ParticipatingTraditional
Participating
18/60 for parent 0/15 for child
Yearly, Half yearly or Quarterly
Yearly, Half yearly,Quarterly or
Monthly
Yearly, Half yearly,Quarterly or
Monthly
Regular/Single (PPT of 6 & 10 yrs)
Yearly, Half yearly,Quarterly or
Monthly
Yearly, Half yearly,Quarterly or Monthly
Face Amount (Increases by 7% each year)
FA less the survival benefits+ Bonus but
after deferment period
FA + Bonuses if any less the survival
benefits paid
SA+vested bonus without any deductions
Double the Face Amount + coupons promised. In case of
death during the first two years, death benefit is return
of premiums rolled up with 5% rate of simple interest p.a.
15 yr term- 25 % FA every 5 yrs & Balance FA + 20%
of FA as GA at maturity 20 yr term- 20% FA every 5 yrs & Balance FA + 30% of
FA as GA at maturity 25 yr term- 15% FA every 5 yrs & Balance FA + 40% of
FA as GA at maturity (The bonus addition if
any would also be paid at maturity for all)
20% of FA every year from 6th year for five
years
20% of FA every year from 6th year for five
years
Term 10 yrs- 110% of SA Term 15 yrs-115%
of SA Term 20 yrs-120% of SA Term 25
yrs-125% of SA
At age 18 of child- 25% of SA
Age 19-25% Age 20-25% Age 21- 25%+vested bonus
Guaranteed payout in 5 or 10 yrs depending
on the plan option+accumulated
bonus on the last instalment of survival
benefit.
10% of FA every three years, and the balance at maturity. If you live past 21 yrs of the
policy, 40% SA is paid at maturity(21st
anniversary) plus 10% guaranteed addition after
10 yrs of the policy+ Bonus
For a term of 12 years Every 4th Policy Year- 20% of the Face Amount Every 8th Policy Year- 40% of the Face Amount On maturity- 70% of the Face Amount For a term of 15 years Every 3rd, 6th, 9th and 12th Policy Year- 20% of the Face Amount On maturity- 50% of the Face Amount For a term of 20 years Every 3rd, 6th, 9th, 12th, 15th and 18th Policy Year- 10% of the Face Amount On maturity- 70% of the Face Amount
After 2 years. In the 2nd & 3rd year 90%, between 3rd and 4rth
95%
50% in 2nd & 3rd year, 75% in 4th and 5th year (For single pay 90% from 6th
year)
Guaranteed Surrender Value refers to guaranteed cash value of the Policy equal to 30% of the Premiums paid, excluding1st year of premium provided premium has been paid for atleast 3 consecutive years.
1. Term/Preferred Term Benefit2. Accidental Death Benefit 3. Permanent Disability Benefit4. Critical Illness5. Life Guardian Benefit &6. Accidental Disability Guardian Benefit
1. Accidental death 2. Total Permanent
Disability
1. Accidental Death 2.
Accidental Total Permanent Disability 3. CI Rider
4. WOP Rider
1. Accidental Death 2.
Accidental Total Permanent Disability 3. CI Rider
1. Term Rider 2.
Accident Rider (No Rider available for
single premium payment mode)
1. Term Benefit2. Accident Benefit &3. Disability Benefit
For issue ages below 18, the plan has an inbuilt Payor Benefit. For issue ages of 18 years and above, it has inbuilt Waiver of Premium and Accidental Death Benefits.
1. Death Benefit increases by 7% of FA annually2. Automatic Cover maintenance2. Comprehensive set of riders
1. No medical examination required below age 60, for FA less than Rs. 5,00,000/-
Various term options plus bonus
Receiving the SA as lumpsum or in 4
instalments Inbuilt WOP Rider
Four policy term options and different premium payment
term options
Available for both children and adults.
Guaranteed payout of 130% of the Sum Assured on maturity.Also a guaranteed payout of 330% in case of death and 430% of the Sum Assured in case of accidental death.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANYProducts
Weaknesses
OM KOTAK SBI TATA AIGMoney Back Plan Young Sanjeevan Sanjeevan Money Back Policy Scholar II Sanjeevan Supreme Nirbhay LifeAssure 21 yrs Money
Saver1. Limited liquidity: Amounts paid at fixed intervals only2. No transparency in charges3. No control over investments
In case of death Face Amoutn is paid after deducting the payouts already made.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANYProducts
Product type
FEATURES
Max Maturity AgeTerm (years)
BENEFITSDeath
Survival
Surrender Value
Riders
Policy Loan
Strengths
Min/Max age at entry(years)
Minimum Face Amount(Rs.)Maximum Face Amount(Rs.)
Premium paying frequency
ING VYSYALife Pay
Traditional participating
16, 20 & 24 yrs
Rs. 50,000
FDNA
FDNA
91 days- 55 yrs (16/20 yr plan) 91 days- 51 Yrs (24
yr Plan)
No Limit (subject to underwriting)
Yearly, Half yearly,Quarterly or
Monthly
If death after 10 yrs- SA+ paid-up additions
purchased through bonuses, if any If death below 10 yrs-
refund of all premiums paid with interest
16-yr plan- 10% SA paid every 4th yr, 20% every
8th yr, 30% every 12th yr and 50% on 16th yr. 20-
yr plan- 10% SA paid every 4th yr, 15% every 8th yr, 20% every 12th
yr, 25% on 16th yr & 40% at 20th yr. 24-yr plan-
10% SA paid every 4th yr, 10% every 8th yr, 15% every 12th yr, 15% on
16th yr, 20% at 20th yr & 40% on 24th yr. Along
with this, the SA of paid-up additions bought by
1. Personal Accidental Benefit2. Critical Illness or Critical Illness Plus3. Term benefit4. Waiver of Premium5. Payor Rider 6. Term renewable & convertible
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 September 8, 2005
MONEY BACK PRODUCTSCOMPANYProducts
Weaknesses
ING VYSYALife Pay
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANY BSLI ALLIANZ BAJAJ AMP SANMAR AVIVA HDFCProduct Name Flexi Secure Life Flexi Secure Life II Unit Gain Life Pension Swarna Vishranti Plan Pension Plus Unit Linked Pension
Product Type Unit Linked Unit Linked Unit Linked Unit Linked Traditional Participating Unit-Linked Unit Linked
Life Cover With & Without Life Cover With & Without Life Cover Without Life cover With Life cover With Life Cover With Life Cover Without Life CoverFEATURESPremium Type Single with Top-up Regular with Top-up Single with Top-up Regular with Top-up Single & Regular Single & Regular Regular Single & Regular payment Regular Single & Regular
18-65 18-65 18-65 18-65 18/65 18-65 18-65 18/ 60 (65 for single pay)Vesting Ages (Years) 50, 55, 58, 60, 65 & 70 50-70 years 45-70 45-70 45-70 45 - 70 50-70 50 to 70Term (years) Minimum 5 Minimum 10 Minimum 5 Minimum 10 5 - 40 5 - 40 5 to 40 5 to 52 Min 5 yrs
0/22,000 0/50,000 55,000 50,0000 5 times regular/ 1.01 times single
50,000/-1,00,000/-
N/a Rs. 1000/-
Not Allowed N/A No Limit N/a N/a Not applicable
20000/- 5,000/- 50,000 5,000/- 10,000 (for single & regular) 5000/- Rs 2500/No Limit 6000/- FA + PF
Top-ups (Rs.) Min 10,000/- Min 10,000/- 5,000/- 5,000/- N/a Allowed Rs 1000/- 5,000
Choice of Funds N/a Only one fund.
Switching of funds Allowed anytime. Two free switches Allowed anytime. Two free switches
3 free switches 3 free switches
Not applicable One free switch Not allowed Free switches
BENEFITSPolicy fund value Max ( Fund value/ Sum assured) Rs. 1000 + Policy Fund
No surrender in first 3 years.
Amount at Vesting Policy Fund Policy Fund Policy Fund Policy Fund Policy fund value Policy fund value Policy Fund
Riders Allowed
N/A
None None
Tax Benefits u/s Sec 80 CCC Sec 80 CCC
Sec 88CCC & 80D 80 CCC Sec 80CCC
Sec 80 CCC
Unit Gain Easy Pension
Bhagya Shree
With-Profit fund & Unit-Linked Fund
Negligible Life cover of Rs.1000
Min/Max age at 50, 55, 58, 60, 65 &
10years (5 for single pay)-40 Minimum Face Amount(Rs.)
Increase/Decrease in Face Amount
Yes, subject to the following:UnderwritingMin amt. of change Rs. 50,000/-No decrease for 2 years subsequent to the increase date.
Yes subject to following: Inc: w/o medical - every 3 years upto 4 times upto the age of 45. Quantum of increase is lower of 25% of sum assured or Rs 1 lac. With medical underwriting you can increase any amount upto age 60. Decrease can be done anytime subject to min decrease amount being 5 times annual premium for regular and
Minimum Premium (Rs.) (if regular pay-annual prem)
10,000 (for single & regular)
NourishGrowthEnrich
3% investment guarantee till vesting or death but not on surrender
NourishGrowthEnrich
1. Equity Index2. Equity Plus3. Debt PLus 4. Balanced plus 5. Cash plus
1. Equity Index2. Equity Plus3. Debt PLus 4. Balanced plus 5. Cash plus
1. Capital Secure Fund2. Balanced Fund
1. Defensive Managed2. Secure Managed3. Balanced Managed &4. Liquid
Death Benefits (during deferment period)
Higher of the Policy Fund or the Face
Amount
Higher of the Policy Fund or the Face
Amount
Higher of Policy Fund or 110% of the Single Premium
Higher of Policy Fund or 10 times the Premium
During the deferment period if the spouse is above 45 yrs will get the option to purchase an annuity to get regular income for life. Or else SA + Accrued Bonus
Risk cover + Account balance. Risk cover can be
a fixed cover or a decreasing one
Policy Value + Bonus (if with profit)
Surrender Benefits (during deferment period)
Policy Fund less 25% of the base coverage premium in the first year. Entire policy
fund available thereafter
Policy Fund less of 75% of base coverage
premium in the first year, 50%, 25% in the 2nd and 3rd year. No
surrender charge thereafter.
Policy Fund less 25% of the base coverage
premium in the first year. Entire policy fund
available thereafter
Policy Fund less of 75% of base coverage
premium in the first year, 50%, 25% in the 2nd and 3rd year. No
surrender charge thereafter.
No surrender in first 3 years.
After 3 full years premium have been paid. The Guaranteed minimum SV will be 30% of the premiums paid excluding 1st years premium paid and the premiums for the riders.
No surrender possible in first three yrs. For Capital Secure Fund: exit in 4th yr - 90% of A/C balance payable, 95% in 5th and entire balance 6th onwards. In Balanced Fund same as the other but reducing any mkt value
Policy Fund Value less the surrender charge
available after 2 policy years in case of a
regular pay. In case of Single Pay surrender
charge would be 5%, 3% & 1% in the 1st, 2nd and
3rd year
Before three years 20% of the outstanding premiums due
during these 3 years would be charged as cancellation
charge and the remainder of the policy fund would be paid.
Either full FA and Accrued bonuses are
used to buy immediate annuity or Option to take
33% of FA + Bonuses. Rest of the amount used
to buy immediate annuity, Open market
purchase
Higher of the Policy Fund or the Face Amount
Policy Fund + Bonus (if with profit)
1.Term2.Critical Illness or Critical Illness Plus3.ADD4.CI for women(Only with life cover option)
Term Rider, Critical Illness, ADD only with
life cover
1.Term2.Critical Illness or Critical Illness Plus
3.ADD4.CI for women
(Only with life cover option)
Accident Death Benefit Accidental perm. total/ partial disability Critical illness benefit Hospital cash
1.Family Income Benefit 2.Accidental Death Benefit3.Permanent Total/Partial Disability Benefit 4.Waiver of Premium Benefit
Accidental Death and Disability Rider. Min SA of
Rs 1 lac and a maximum of Rs 50 lacs
1. Annuity for life. 2. Annuity for life with 5,10 or 15 years certain payout. 3. Annuity for life with return of capital
1. Annuity for life. 2. Annuity for life with 5,10 or 15 years certain payout. 3. Annuity for life with return of capital
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANY BSLI ALLIANZ BAJAJ AMP SANMAR AVIVA HDFCProduct Name Flexi Secure Life Flexi Secure Life II Unit Gain Life Pension Swarna Vishranti Plan Pension Plus Unit Linked Pension Unit Gain Easy
Pension Bhagya Shree
Annuity options
* Reference sheet attached
1. Life Annuity guaranteed for 20 years and life thereafter 2. Life Annuity with return of purchase price less the payouts made till death of the Annuitant
1. Life Annuity guaranteed for 20 years and life thereafter 2. Life Annuity with return of purchase price less the payouts made till death of the Annuitant
1. Life Annuity (Swarna Raksha tied to the plan)
1. Annuity payable for life, 2. Annuity payable for 5/10/15 yrs certain and life thereafter, 3. Annuity payable for life with return of capital on death of annuitant
1. Life Annuity 2. Annuity guaranteed for 10 yrs and life thereafter
1. Life Annuity 2. Annuity certain and for life thereafter 3. Increasing Annuity4. Joint Life Annuity5. Life Annuity with ROPP#
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANYProduct Name
Product Type
Life CoverFEATURESPremium Type
Vesting Ages (Years)Term (years)
Top-ups (Rs.)
Choice of Funds
Switching of funds
BENEFITS
Amount at Vesting
Riders Allowed
Tax Benefits u/s
Min/Max age at
Minimum Face Amount(Rs.)
Increase/Decrease in Face Amount
Minimum Premium (Rs.) (if regular pay-annual prem)
Death Benefits (during deferment period)
Surrender Benefits (during deferment period)
HDFC ING VYSYA ICICIPersonal Pension Plan Best Years Retirement Secure Plus Pension Forever Life LifeLink Pension II LifeTime Pension II Invest Shield Golden Years
Unit Linked Unit Linked Non-linked Unit Linked Unit Linked Unit-Linked Unit Linked
With Life cover With & Without Life cover With & Without Life cover With Life Cover Without Life coverWith or without Life cover With or without Life Cover With Life Cover
Single Regular Single & Regular Regular Regular Single with Top-up Regular with Top-up Regular with Top-up Limited with Top-Up
35-60 18-60 18 to 65 18-60 (65 if no life cover) 18-60 18-72 18-60 (65 if no life cover) 18-6550-70 50-70 45 to 70 50-75 50-70 45-75 45-75 45-75 45-755-15 10-40 5 to 52 Min 10 years 5 to 30 Min 3 years Min 10 years 10 to 30 Min 5 yrsFDNA FDNA FDNA 50,000/- 50,000 0 0 0
N/a N/a N/a N/a N/a N/a
FDNA 2,400 10,000 FDNA 50,000/- 10,000 10,000
N/a N/a Min. Rs. 2,000/- N/a N/a 5,000/- 5,000/- Min Rs. 5,000/-
N/a N/a N/a
N/a Not applicable Only one fund N/a Four Free switches Four Free switches No switches allowed
Policy Fund
Policy Fund Policy Fund Policy Fund
None None None ADB, CI
Sec 80 CCC Section 80 CCC Sec 80 CCC Sec 80 CCC Sec 80CCC Sec 80C and 10(10D)
Trad par with Reversionary & Terminal bonuses
18-60 (65 if no life
Min of 5 times and max of 15 times the annual
premiumShift from one level to another is possible. Once switched to 0 death benefit cannot switch to
other option
No increase/decrease in Face Amount is allowed.
You can decrease the annual contribution by a max of 20% of the initial
premium chosen subject to conditions. You can also
increase the annual contribution without any
limits.5,000/- for Regular and 25,000 for
Single payRs. 60,000. For 3-yr term-
Rs. 1,00,000Min 2,500 Max 30 times annual
premiumOnly one fund (Capital Guaranteed plan)
1. Pension Preserver2. Pension Protector3. Pension Balancer &4. Pension Maximiser
1. Pension Preserver2. Pension Protector3. Pension Balancer &4. Pension Maximiser
Debt- Min 70% Equity Max. 30%
Maximiser II Protector II Balancer II
Preserver
Anytime. Four Free switches. Min switch amount- Rs. 10,000
Face Amount + Bonuses
Prem paid accum at 8% pa (subject to a
maximum FA+ Bonuses)
On death spouse can defer the purchase of annuity if the age of the
spouse is less than 45 years or encash up to 5% of the Benefit
Amount outstanding each year up to the age of 45 and then apply the balance at age 45 to purchase
annuity. If there is no spouse then
1. Basic: (Term-5) * Annual Premium + Policy Fund 2. Standard: (Term) * Annual Premium + Policy Fund 3. Enhanced: (Term+ 5) * Annual Premium + Policy Fund
FA + GA ( 3.5% pa of FA compounded
annually for the first 4 years+ Bonuses)
Higher of the Face Amount or the Policy
Fund
SA+ Higher of the value of Unit Fund or the
guaranteed Unit Fund
Higher of the Policy Fund Value or Value of Units.
Min guaranteed as 50% of the premium paid
excluding additional premium
No surrender possible in the first year
Min. guaranteed- 50% of premium paid
excluding any additional premium
Surrender possible only after three policy years. The guaranteed
surrender value would be 60% of the Policy Fund.
The guaranteed surrender value is 35% of all the premiums paid excluding the rider and extra premiums after the 3rd policy year. In addition company may provide the current surrender values as specified from time to time.
Min G'teed CSV after 3 years
As a % of the Policy Fund- 95, 96,97 in the 1st, 2nd and 3rd year respectively). No surrender charge
after 3 years
After 1 year. As a % of the Policy Fund-25, 40 & 60 in the 2nd, 3rd & 4th year respectively.
After 1 year. As a % of the Unit Fund value. 20, 30 &
40% after 2,3 & 4 yrs resp.
After 1st year. Surrender Value of the policy differs according to the year in
which premium is paid and is based as a percentage of
the value of units.
Face Amount + Reversionary
Bonus + Terminal bonus
Face Amount+ Reversionary Bonus +
Terminal bonus
Amount in the Individual Pension Account (Policy Fund)
FA + G'teed Addition + Vested Bonuses
Higher of the Unit Fund or the guaranteed Unit Fund
Policy fund value. 5 choices of annuity
payments 1. 100% lumpsum payment
2. 100% Structured Benefits 3. 100%
annuitization 4. 50% lumpsum 50%
Structured Benefits 5. 50% lumpsum
Term rider for upto a maximum of Rs. 1,00,000.
1.Critical Illness (Accelerated), 2.Major Surgical Assistance
Rider, 3.Accident and Disability Benefit Rider, 4.Accident
Benefit Cover, 5.Income Benefit Rider, 6.Waiver of Premium
Rider
Critical Illness, Major Surgical
Benefit,Accident & Disability benefit
Accident & Disability Benefit
Waiver of Premium
Accident & Disability Benefit
Waiver of Premium
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANYProduct Name
Annuity options
* Reference sheet attached
HDFC ING VYSYA ICICIPersonal Pension Plan Best Years Retirement Secure Plus Pension Forever Life LifeLink Pension II LifeTime Pension II Invest Shield Golden Years
1. Life Annuity 2. Annuity certain and for life thereafter 3. Increasing Annuity4. Joint Life Annuity5. Life Annuity with ROPP# 1. Life Annuity
2. Life Annuity with return of purchase price
1. Life Annuity2. Life Annuity with return of purchase price3. Annuity Certain for 5/10/15 years & Life; 4. Joint Life (Last Survivor) with return of purchase price5. Joint Life (Last Survivor) without return of purchase price
1. Annuity for Life 2. Life Annuity with return of Purchase
Price 3.Life Annuity guaranteed for 5/10/15 yrs 4. Joint Life,
Last Survivor 5. Joint Life, Last Survivor with return of purchase
price
1. Annuity for Life 2. Life Annuity with return of Purchase
Price 3.Life Annuity guaranteed for 5/10/15 yrs 4. Joint Life,
Last Survivor without return of purchase price 5.
Joint Life, Last Survivor
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANYProduct Name
Product Type
Life CoverFEATURESPremium Type
Vesting Ages (Years)Term (years)
Top-ups (Rs.)
Choice of Funds
Switching of funds
BENEFITS
Amount at Vesting
Riders Allowed
Tax Benefits u/s
Min/Max age at
Minimum Face Amount(Rs.)
Increase/Decrease in Face Amount
Minimum Premium (Rs.) (if regular pay-annual prem)
Death Benefits (during deferment period)
Surrender Benefits (during deferment period)
LIC MXNYL MET LIFE
Jeevan Nidhi Jeevan Akshay IV Future Plus Easy Life MET Pension
Deferred & Immediate Annuity Immediate Annuity Unit-linked Trad participating with bonuses
With Life Cover With Life Cover With Life Cover Without Life Cover Without Life Cover With & without life cover With Life Cover Without Life Cover
Single Regular Single Single Regular and Single
18-65 18-65 18-65 N/a N/a 18-65 20 to 60 yrs 18 to 6050-79 50-79 40-75 40-79 40-79 40-75 50-70 45 to 702-35 2-35 SP( 6 to 35) RP-(5 to 35) N/a N/a 10 - 40 yrs Min 1- years
50,000 50000 50,000 50,000
N/a N/a N/a N/a N/a N/a
10,000 2,500 N/a N/a 2,500 (RP) & 1,00,000 (SP) 4,000
N/a N/a N/a N/a Min 10,000/- N/a N/a
N/a N/a N/a N/a N/a N/a N/a
N/a N/a N/a N/a N/a N/a N/a
Fund Value
N/a N/a FDNA
N/a N/a Policy Fund Value
None None None None
Sec 80 CCC Sec 80 CCC Sec 80 CCC Sec 80 CCC Sec 80 CCC Sec 80 CCC Sec 80 CCC
New Jeevan Suraksha
New Jeevan Suraksha I & New Jeevan
Dhara I
New Jeevan Akshay III (closed for sale)
Trad par with Reversionary & Final additional bonuses
With Profits Deferred Annuity Plan
Trad participating with rev & terminal bonuses
Single and Regular payment Option
Single and Regular payment Option
Single, Short pays(3&5) & Regular
Min 5 for both single & regular 50,000. However, the minimum amount of annuity must be Rs.
3,000 p.a.
SP= SP RP= 5 to 20 times
the RPYes, in multiples of 5000. Max No Limit.
No increase is allowed. Decrease allowed once a year subject to the
minimum limits.
Annual- 3000 Single- 10000
RP: RS. 5000 SP: Rs. 10,000
Bond Fund Income Fund
Balanced Fund Growth Fund
3% investment guarantee on the Bond
Allowed anytime. Four free switches
Prems paid accum at 5%3 pa
compounded
Prems paid accum at 5% pa
compounded
SA+ Accrued Guaranteed Additions+ Simple
Reversionary Bonus+ Terminal Bonus
Depends on the option chosen to pay the annuity instalment & the
type of annuity chosen
Depends on the option chosen to pay the annuity instalment & the
type of annuity chosen
With Life Cover: SA+ Policy Value Without life cover:
Policy Value
Refund of premiums with interest @3% p.a as minimum guaranteed
rate s.t. max of SA + bonus
All the premiums + Reversionary bonuses +
Terminal bonuses (if death occurs after 10 years) is paid.
G'teed CSV is 90% of all prem4 paid excl year 1 prem
from years 3. Special CSV in year
1.
G'teed CSV is 90% of all prem paid excl year 1 prem. Special CSV after 2 full
years of premium paid.
Available after 3 yrs. GSV= 30% of premiums paid
excluding 1st yr premium for regular premium
GSV= 90% of single premium. Any extra
premiums paid will be excluded.
Surrender value is a percentage of the bid value of units & depends
on the duration since date of commencement in case of SP. For RP, it depends on the number of years for which premium is paid.
Minimum Guaranteed SV of 55% of premiums paid in Regular policies
& 80% of premium in Single Premium policy
Notional Cash Option plus
Reversionary bonus + Final add Bonus
Notional Cash Option plus
RB+Final add Bonus
SA+ Accrued Guaranteed Additions+ Simple
Reversionary Bonus+ Terminal Bonus with an
option to commute 1/3rd of this amount.
SA + Bonus. 25% could be commuted to take an annuity from
them or open market purchase
Face Amount + 10% of the FA as the GA (one time pay) + Reversionary bonuses if any (no bonuses declared in the
first 2 years) + Terminal bonus (% of accrued reversionary
bonus) if declared
Term Assurance Benefit Rider
1. Accident Death and Disability 2. Term Assurance 3. Critical Illness Rider
Accident Benefit CI Rider
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANYProduct Name
Annuity options
* Reference sheet attached
LIC MXNYL MET LIFE
Jeevan Nidhi Jeevan Akshay IV Future Plus Easy Life MET PensionNew Jeevan Suraksha
New Jeevan Suraksha I & New Jeevan
Dhara I
New Jeevan Akshay III (closed for sale)
FDNA Life Annuity1. Life Annuity 2. Life Annuity with return of purchase price 3. Annuity certain & Life; 4. Joint Life(Last Survivor) with return of purchase price 5. Life annuities increasing @ 3%pa simple
1. Annuity for Life 2. Annuity guaranteed for certain periods 3. Annuity with return of purchase price on death 4. Increasing Annuity 5. Joint Life Last Survivor Annuity
1. Annuity for life 2. Annuity guaranteed for 5/10/15/20 yrs and life thereafter3. Annuity for life with return of purchase price 4. Life Annuities increasing @ 3% p.a. simple 5. Annuity for life with a provision of 50% of the annuity to spouse for life on death
1. Annuity for life 2. Annuity for life with return of purchase price
1. Annuity for life 2. Annuity guaranteed for 5/10/15/20 yrs and life thereafter3. Annuity for life with return of purchase price
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANYProduct Name
Product Type
Life CoverFEATURESPremium Type
Vesting Ages (Years)Term (years)
Top-ups (Rs.)
Choice of Funds
Switching of funds
BENEFITS
Amount at Vesting
Riders Allowed
Tax Benefits u/s
Min/Max age at
Minimum Face Amount(Rs.)
Increase/Decrease in Face Amount
Minimum Premium (Rs.) (if regular pay-annual prem)
Death Benefits (during deferment period)
Surrender Benefits (during deferment period)
MET LIFE OM KOTAK SBI TATA-AIGMET Advantage Retirement Income Plan Retirement Income Plan Capital Multiplier Plan Nirvana Plus Nirvana
Unit-Linked Pension Plan Unit-Linked
With Life Cover With & without cover With/Without Life Cover With Life Cover With & Without Life Cover With Life Cover With Life Cover
Regular & Single Regular & Single Regular Regular Single and Regular payment Option Regular Regular
20/55 18/55 (60 for SP) 18-60 18-60 18 to 65 18 to 45 18/5545-65 45-75 45-65 Any age upto 65 50-70 55, 58 & 60 50-65
Min 10 years 10 (5 for SP)-30 5-30 FDNA 2-25 years To age 55, 58 & 60 10-47FDNA FDNA 0
50,00025,000
1 lakh, 2 lakhs & 4 lakhs50,000
FDNA FDNA N/a N/a N/a N/a N/a
4,000 10,000 3000/No Limit 3,570 FDNA
Yes, min 10,000 Allowed N/a N/a
N/a N/a N/a N/a N/a
Allowed Allowed N/a N/a N/a N/a N/a
N/a FDNA After 2 years After three years
None FDNA
Sec 80 CCC Sec 80 CCC & 80 D
Sec 80 CCC Sec 88 Sec 80 CCC Sec 80CCC Sec 80 CCC
Lifelong Pensions
Trad par with Reversionary & Final additional bonuses
Trad par with Reversionary & Terminal bonuses
Trad par with reversionary & Terminal bonuses
Trad par with Reversionary & Terminal bonuses
SP- 1 Lakh RP- 10,000
SP- 50,000 RP- 10,000
Top ups allowed. No min amt but max 25% of
FA
Top ups allowed. No min amt but max 25%
of FA
Top ups Allowed. Premium holiday available. Guaranteed
return for top-up1. Multiplier(100% equities) 2. Accelerator (80% equities, rest in debt) 3. Balancer (50% each in equties &
debt) 4. Moderator ( 20% equities,
rest in debt)
1. Gilt Fund 2. Bond Fund 3. Floating Rate Fund 4. Balanced
Fund 5. Money Market Fund
110% of the value of units. If the beneficiary is the spouse, she/he has the
option to receive death benefit in lumpsum in part or full. With the balance,
if any, an annuity can be purchased.
Higher of value of units or basic SA+ value of units in
supplementary account- With Cover
Value of units in Main & Supplementary Account for
without life cover
With cover - Max (FA, Accu A/C). W/o cover - Max(RoP, Accu A/C).
Commutation and annuity benefits will be
available.
Before vesting, Max (FA, Accu A/C)+10% of FA + Top ups with
interest. After vesting, 10% of FA + Accu A/C
Face Amount + Balance in Personal Pension Account (Only in case of with life cover). For
without life cover, only the personal pension account is
payable. The min. guaranteed return is present
FA + GA (10% of the FA added every 5 years) +
Bonuses if any.
Face Amount + Reversionary bonus
compounding from 5th year + Terminal bonus+ 10% Guaranteed addition
of 10% of the FA if the policy after 10 years
Balance in Accu A/C can be used to buy an
annuity after a surrender charge of 5% if early retirement is not
due to ill health
100% withdrawal on surrender after 3
years or upto 50% and the balance in
instalments of 0-25% every year
30% of the total premiums paid excluding the 1st
years premium provided 3 years premium have been
paid in full.
Value of units (Use 100% of them to buy annuities or commute 1/3rd & use the
balance to buy annuities)
Higher of basic SA or value of units in supplementary account
Max (FA, Accu A/c). 1/3rd commute and the
balance can be annuitised
100% withdrawal at vesting age or upto
50% and the balance in instalments of 0-
25% every year
Principal Sum + Min Guaranteed return of 4% p.a for first seven yrs compounded annually + Bonus. Thereafter rate will be declared annually (25% could be taken as a lumpsum and the rest annuitised)
FA + GA (10% of the FA added every 5 years) +
Bonuses if any
FA+ Reversionary Bonuses (from 5th year on comp.
Basis)+ Terminal bonus+10% GA
Term, ADB, CI, PDB, Accidental Death Guardian Benefit
Term, ADB, CI, PDB, WoP - death/TPD. CI
benefit is added to the accu account and the future premium are
reduced.
Term, ADB, CI, PDB, WoP - death/TPD. CI
benefit is added to the accu account and the future premium are
reduced.
Critical Illness benefit inbuilt for the first 3 years.
Its optional after three years and the policy
holder would pay additional amount for this
benefit.
Accident Rider, Term Rider, Critical Illness
Prepared by product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
INDIVIDUAL PERSONAL PENSION PLAN
COMPANYProduct Name
Annuity options
* Reference sheet attached
MET LIFE OM KOTAK SBI TATA-AIGMET Advantage Retirement Income Plan Retirement Income Plan Capital Multiplier Plan Nirvana Plus Nirvana Lifelong Pensions
1. Life Annuity 2. Life Annuity with
return of purchase price 3. Life Annuity with return of balance(purchase price less pensions received) 4. Annuity for 5 yrs certain & life thereafter 5. Annuity for 10 yrs certain &
life thereafter 6. Annuity for 15 yrs certain &
1. Life with return of purchase price is available with 6.11 % annual annuity rate (before deduction of charges)
No Annuity options but a drawdown
1. Life Annuity2. Annuity for a min guaranteed period of 5, 10, or 15 years & for life thereafter3. Increasing Annuity4. Family Pension Payment5. Life Annuity with return of purchase price less the annuities already paid
Invested in Monthly Income Plan
Life annuity with return of purchase price.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 July 29, 2005
SINGLE PREMIUM BOND
COMPANY BSLI BSLI ALLIANZ BAJAJ AVIVA ICICI LIC OM KOTAK
Product Name Single Premium Bond PrimeLife Premier LifeBond LifeBond Plus Life Link II Bima Nivesh 2005 Kotak Easy Growth Plan
Product type Unit Linked Unit Linked Participating Unitised & Unitlinked Unit Linked Unit Linked Participating Unit Linked
FEATURESMin/Max age at entry(years) 0/70 30 days/65 yrs 1/75 18/65 13/70
Max maturity age(years) 80 To age 70 70 N/a 70 65 75 Open contractTerm (years) 5&10 To age 70 Minimum 10 years No limit 5 to 25 years 5 & 10 Open contract
Minimum Face Amount(Rs.) 50,000/- 25,250/- 52,500/- 25,000/- 51,000/-
Maximum Face Amount(Rs.) No Limit No Limit No Limit No Limit No Limit No Limit No limit No limit
25,000/- Rs. 50,000/- 35,300/- 25,000/- Rs. 50,000 50,000/-
Investment funds N/a Not Applicable
Switching Two free switches Two free switches N/a N/a Not Applicable
BENEFITSDeath
Maturity Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund
Withdrawals Not allowed Not allowed Not allowed
Surrender Value No Surrender charge after 5 years After one year
Riders Available None None None Accidental Death Benefit No Riders Term Assurance Rider
Indicative Premium
NA Rs. 10,000 NA Rs. 10,000/- Rs. 10,000 5,000/- Not Applicable 10,000/-
Tax Benefit Section 88 Section 88 Section 88 & 10 (10 D) Section 8o C Section 88 & 10 (10 D)
Loan Availability None None 90% of the SV None None None yes YesStrengths
Weaknesses
All the products have tax benefits under sec 88 and sec 10(10D)Not included here areHDFC single pay whole life plan, Flexible BondSBI single pay Money Back Plan, Young Sanjeevan
Save Care, Single Premium Plan
0(risk commences at age 7)/60
0/ 62 (60 years for 500% Face Amount option)
18/60 (for 1.02 times life cover 75 years)
Min 5 years, To age 65yrs
26,250/-(105% of min premium)
Rs. 2,50,000( 5 times SP)
2,50,000( 5 times the Single Premium)
Minimum Premium Payable (Rs.)
Rs. 995 per 1000 SA for 5 yrs term & Rs, 976 per 1000 SA for 10-yr plan
50,000/- (For minors opting for 5 times live cover, initial single premium is restricted
to Rs. 5,00,000/-)
1. Protector 2. Builder 3. Enhancer
(Only Protector fund is available with 5 year term)
1. Assure 2. Protector 3.
Builder
1) Unitised fund 2) Unit Linked fund
Secure Fund Growth Fund Balanced Fund
( Investment guarantee on
the secure fund)
1. Preserver 2. Protector3. Balancer 4. Maximiser
1. Gilt Fund2. Bond Fund3. Balanced Fund4. Growth Fund
Two free switches. 0.5% of the amount switched
from 3rd switch onwards subject to a min of Rs.
100 per transaction.
Four free switches in a year. Minimum switching
amount Rs. 10,000/-
Unlimited (There is a bid-offer spread)
Higher of 105% of SA or Fund Value is paid
1. Upon the death of the Life Insured before the Policy Anniversary coinciding with or immediately following the date when the Life Insured attains the age
Face Amount (Minimum Guaranteed
return)
101% of the value of initial single premium units in the account + top ups if any. In case of joint life-it is paid only on second death
Higher of policy value or (SA less withdrawals). Value of units through additional single premiums will also be paid.
Higher of the Policy Fund and the Face Amount (105% or 500% of the
premium) less the withdrawals made if any.
Face Amount + Accrued Guaranteed Addition(Rs. 50 and Rs. 55 per 1000 for 5 and 10 years term respectively) + Loyalty
Additions if any
Higher of the PF or FA (1.2 times or 5 times the premium) less the
withdrawals made if any.
Higher of Fund Value or Single Premium Paid
Face Amount + Minimum Guaranteed
return + Accrued bonus
Face Amount + Guaranteed Additions + Loyalty Additions, if any
Yes, allowed after 3 years. Min amount of withdrawal is Rs. 25,000 subject to leaving Rs. 25,000 in
Withdrawals would be subject to a surrender charge in the first five
years.
Allowed after one year. Min amount is Rs. 5000 and balance in the policy fund after withdrawal is
Rs. 40,000. If
Allowed after one year. (limited to 25% of the PF in the first 5 years and would be charged Rs.
100/-)
From second year onwards. Min withdrawal amount =
Rs.10,000/- s.t. a min balance in the PF of Rs. 50,000/-
PF less 25% of premium paid in the first year
Policy Fund less the surrender charge would be payable. No surrender charge from 5th Policy Year
Not very clear about surrender values
Full policy value after 4th policy year.
During the 1st year-95% of the PF, 2nd year-96%, 3rd year-97% ano 100%
SV after 3rd year.
After one year. No surrender charge but Bid-offer spread
ADD, CI (4), Lady Rider and Term Rider
1. Critical Illness Benefit2. Accidental Death Benefit
3. Permanent Disability Benefit
Premium amount is selected by the policyholder
Premium amount is selected by the policyholder
Rs.580/- per 1000 Face Amount
Premium amount is selected by the policyholder
Premium amount is selected by the policyholder
Premium amount is selected by the
policyholder
Rs.976 per 1000 SA for 10-yr term
Premium amount is selected by the policyholder
Minimum Top Up amount (Rs.) Section 80 C and
Section 10(10D)Section 80 C and Section
10(10D)Section 80 C and Section
10(10D)
Capital is guaranteed, Three fund options, No surrender charge from the 2nd year,
Two free switches
Guaranteed Additions, Choice of six investment fund options, four riders
and facility of withdrawals
Min guaranteed return upto 3.54%, FA would
grow by way of compounded annual bonuses, High risk cover upto 142%
1. Can be taken on joint life second death basis (with spouse
only), 2. Selling price of units in the
unitised plan is guaranteed not to fall,
3. Partial withdrawals possible after 3 years
Investment Guarantee on the fund
1. Withdrawals allowed2. Four fund options
3. Multiple Allocations4. Four free switches
Rebates available of 1% of basic SA for
premium>Rs. 50,000 and Rs. 500 +1.5% of
premium if premium>Rs. 1 Lakh
1. Offers liquidity & flexibility in investment2. Riders available
No withdrawals (but the policyholder can surrender the policy from the second year without any charge in
case of emergency)
Limited upside potential, No control
over the investments, less transparent
charges, No liquidity
High administration charge, No guarantee in the unitlinked fund
No guarantee on the maturity value
1. No guarantee2. Bid-offer spread
Prepared by Product Development COM/08/05-06/0375 July 29, 2005.
SINGLE PREMIUM BOND (Charges & Fees)
COMPANY BIRLA SUN LIFE BSLI ICICI OM KOTAK MAHINDRA AVIVA
Product Name Single Premium Bond Lifelink II Kotak Easy Growth Plan Life Bond
Bid Offer spread No No No Yes- 0.10% to 0.43% FDNA
Premium Allocation
Year 1 97.5% 96.50% 97.5%
N/a 2% 1% 2.5%
Investment Management Fee (Percentage of the investment Fund)
1%
Administration ChargeMonthly charge Rs. 25/- Rs. 30/- Rs. 20/- Rs. 30/- None
Fund ChargeAnnual charge
0.5%None
None None 1.5% for the first 5 years. 0.5 years thereafter
Cost of Insurance (per thousand Face Amount- Annual charge)Male, 30 years 1.16 1.1 1.44 1.42
FDNAMale, 40 years 1.66 2.04 2.39 2.38
Male, 50 years 4.03 5.25 5.59 5.53
Surrender Charge
Year 1 25% 1.5% 5% 100% 10%
Year 2 0% 1.25% 4% 0% 8%
Year 3 0% 1% 3% 0% 6%
Year 4 0% 0% 0% 0% 4%
Year 5 0% 0% 0% 2%
Switching between the Funds
TwoTwo
Four Unlimited N/a
0.5% Rs. 100/- Rs. 100/- N/a
N/a- Not applicable or Not allowed
PrimeLife Premier
For premiums:50,000 to 99,999-95%
1,00,000 to 4,99,999-97%5,00,000 & above-98%
For premiums:<35,000-97%
35,000 to 99,999-99%1 lakh to 1,49,999-101%
1.5 lakhs to 24,99,999-102%25 lakhs to 9,999,999-103%1 crore to 49,999,999-104%5 crores and more-104.5%
Top-up Loading (% of top-up amount)
For Top-ups:Up to 1,49,999-101%
1.5 lakhs & above -102%
Enhancer-1%Builder-1%Protector-1%
Assure, Protector, Builder & Enhancer -1% Creator & Magnifier- 1.25%
Maximiser- 1.5%Balancer- 1%Protector- 0.75%Preserver- 0.75%
1. Growth Fund - 1.5%2. Balanced Fund - 1.3%3. Bond Fund - 1.2%4. Gilt Fund - 1%
Underwriting expense only for 5 times cover: As per age in the 1st year (0.2 -0.6% of
the FA)
Number of free switches per year
Charge for additional switches(Rs./ % of switching amt.)
Bid-offer spread applicable on every switch
Prepared by Product Development COM/08/05-06/0375 July 29, 2005.
AVIVA BAJAJ ALLIANZ BAJAJ ALLIANZ
Life Bond Plus Unit Gain SP Unit Gain Plus SP
None 5% No
100.0% 98.0%
100% 98.0%
Rs. 25/- 1.25% of FV Rs. 20 per month escalating at 5% p.a.
None None
0.1195-age 35 1.29 1.290.2728-age 45 2.26 2.260.7518-age 55 5.77 5.77
5%
3%
1%0%0%
Two Three Three
1% s.t. a min of Rs. 100/- 1% s.t. a min of Rs. 100/-
For premiums:<3,00,000-100%
3,00,000 to 9,99,999-101%10 lakh to 49,99,999-102%
50 lakhs to 9,999,999-103%
1 crore and more-104%
For Top-ups:For the same premium bands as above-100%
Secure Fund- 1.25% Balanced Fund- 1.25% Growth Fund- 1.25%
Equity 1% + 0.5%*Equity Gain- 1.5%+0.5%
Debt 1% + 0.1%*Balanced 1%
Cash 1%*Transaction charge
Equity Plus- 1.5% + 0.5%* Equity Index- 1% + 0.5%
Balanced- no specific charges Debt Plus- 0.7% + 0.1%
Cash Plus- 0.7% + 0.1%
1.75% p.a. of the value of units
No Surrender penalty for partial or full withdrawals.
No Surrender penalty for partial or full withdrawals.
0.5% of the amount switched subject to a minimum of Rs. 100
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 August 23, 2005
UNIT LINKED PENSION PLANS : CHARGES & FEESCOMPANY BIRLA SUN LIFE ICICI AVIVA ING VYSYA AMP SANMAR HDFC BAJAJ ALLIANZ KOTAK METLIFE LIC
Product Name Flexi Secure Life Retirement Plan Flexi SecureLife II Lifetime II- Pensions Lifelink II-Pensions Secure Plus-Pensions Invest Shield Golden Years Pension Plus Best Years Retirement Bhagyashree Met Advantage Future Plus
Bid offer Spread No No No No No No No 5% No No No No 0.01 to 0.5 % No No
Premium AllocationPremium Payment Term Single Regular Regular Single Regular Single Regular Regular Limited Regular Regular Regular Single Regular Single & Regular Single & Regular Single & Regular Single & Regular
Premium Allocation Rate Year 1 97% 80% 79% 96.5% 65% 90% 90% 94% 78% 85% (98% for single) 86.875%(97.5% for single) 80% (95% for single)
Year 2 N/A 98% 97.8% N/A N/A 85% 97% 95% N/a 78% 98% (nil for single) 97.2%(nil for single) 98%(nil for single)
Year 3 N/A 98% 97.8% N/A 99% N/A 85% Same as Year 2 97% 95% N/a 99% 98% (nil for single) 97.2%(nil for single) 98%(nil for single)
Year 4-Year 10 N/A 98% 97.8% N/A 99% N/A 95% 97% 95% N/a 99% 98% (nil for single) 97.2%(nil for single) 98%(nil for single)
Year 11+ N/A 98% 97.8% N/A 100% N/A 95% 100% for both bands 97% 95% N/a 99% 98% (nil for single) 97.2%(nil for single) 99%(nil for single)
Top-up Loading (% of top-up amount) 1% 1% 1% (No charge for top-ups made after 10 years) Higher of the PFV or FA 1% FA + PFV Higher of the PFV or FA 95% 99% 99% 98% 97.50% 99% 1%
Investment Management Fee (as a % of the investment Fund)1.25% 1.25% 1%
Administration ChargeMonthly charge Rs. 20 Rs. 20 Rs. 25/- Rs 40/- Rs. 60 per month Rs. 43/- None None Rs. 15/- Rs 20 Rs. 25/- Rs. 15/-
Face Amount Related ChargeNone None None None None None None None
Cost of Insurance (per thousand Face Amount- Annual charge)Male, 20 years 1.51 1.016 FDNA FDNA FDNA FDNA One year renewable charge 1.1 Details Not Available Details Not Available Details Not AvailableMale, 30 years 1.69 1.171 1.44 1.48 1.49 1.29Male, 40 years 2.99 2.15 2.39 2.54 2.5 2.26Male, 50 years 7.43 5.532 5.59 6.05 5.88 5.77
Surrender Charge
Percentage of base coverage premium Percentage of base coverage premium Percentage of value of investments % of value of Units Percentage of the Policy Fund FDNA N/A N/A For Single Premium
Year 1 25% 75% 25% 75% 100% 5% 90% 75% 100% 100% 100%
Year 2 0% 50% 0% 50% 75% 4% 80% 60% 100% 100% 100%
Year 3 0% 25% 0% 25% 60% 3% 70% 40% 100% 100% 100% 2 yrs or more- Nil
Year 4 0% 0% 0% 0% 40% 0% FDNA 60% 0% 40% 10% 0% 0% For Regular Premium
Year 5 0% 0% 0% 0% 0% 0% FDNA 50% 0% FDNA 5% 0% 0%
Year 6+ 0% 0% 0% 0% 0% 0% FDNA 40% & so on 0% FDNA 0% 0% 0%
Switching between the FundsNumber of free switches per year Two Two Four Four N/a N/a Four N/a N/a One Unlimited 3 FDNA One Four
0.5% 0.5% Rs. 100/- Rs. 100/- N/a N/a Rs. 100 N/a N/a 1% of the switching amount Nil 1% FDNA Rs. 100 per switch
Multiple AllocationNumber of free changes per year Two Two FDNA FDNA N/a N/a N/A N/a N/a N/a Unlimited 3 N/A N/A Not Allowed
Charge for additional change Rs. 100 Rs. 100 FDNA FDNA N/a N/a N/A N/a N/a N/a Nil 1% N/A N/A Not ApplicableN/A- Not Applicable
Personal Pension Plan-Unit Linked
Unit Gain Easy
Pension
Unit Gain Life
Pension
Unit-Linked Retirement Plan
For Premiums10000-49999- 78%
>=50,000-83%
For Premiums< 1,00,000- 95%
1,00,000 to 4,99,999-97% >=5,00,000-98%
<50000-73% >=50000-77%
For 3-yr term- 84.5%(1 lac-4,99,999) 85.5%(5 lac & above) For 5 & 7-yr term- 84.5% (60,000-99,999) 85.5%(1 lac & 4,99,999) 86.5% ( 5 lac
& above)
For Premiums< 7,500- 103%
7,500 to 9,999-104% >=10,000- 105%
RP- 5000-9000- 13%10000-19000-
10.5%20000-49000-9.25%50000-99000-
8.5%100000-499000-8.25%500000 & above-8% SP- 10000-19000-
4%20000-49000-3%50000-99000-
2.25%100000-499000-1.85%500000 & above-
For Premiums< 50,000- 85%>=50,000-88%
<50000-90% >=50000-92%
For 3-yr term- 95%(1 lac-4,99,999) 95%(5 lac & above) For 5 & 7-yr term- 96% (60,000-99,999) 96%(1 lac &
4,99,999) 96% ( 5 lac & above)
RP- Same as Year 1
SP- Not Applicable
<50000-98% >=50000-98%
RP- 2.5% for the above bands SP- Not applicable<50000-98%
>=50000-98%For 5 & 7 yr term- 98% ( all premium bands). Same rate for Year 5.
RP- 2.5% for the above bands SP- Not applicable
For 5 & 7 yr term- 100% ( all premium bands).
Same rate from 6th-10th Year.
RP- 2.5% for the above bands SP- Not applicable
1% ( no charge for top-ups made after 5 yrs)
Enhancer-1%Builder-1%
Protector-1%
1% p.a. for Nourish, Growth and Enrich Fund Options
Maximiser- 1.5%Balancer- 1%
Protector- 0.75%Preserver- 0.75%
Maximiser II- 1.5% Balancer II- 1%
Protector II- 0.75% Preserver- 0.75%
<=50,000-2.5%50,001 to 75,000- 2%
75,001 to 1 lakh-1.75%>1 lakh-1.5%
Capital Secure Fund- 1.5%
Balanced- 1.5%
Liquid Fund- 0.8%Secure managed- 0.8%
Defensive Managed- 0.8%Balanced Managed- 0.8%
Equity Index 1%Equity Plus 1.5%Debt PLus 0.7%Cash plus 0.7%
Gilt Fund-1.0% Bond Fund-1.2% Floating Rate Fund-1.2% Balanced Fund-1.3% Money Market Fund-0.6%
Preserver- 1.25% p.a. Protector-1.25% p.a. Moderator- 1.5% p.a. Balancer-1.5% p.a. Accelerator-1.75% p.a. Multiplier- 1.75% p.a.
Bond and Income Fund- 1% p.a. Balanced Fund- 1.25% p.a. Growth Fund- 1.5% p.a.
Rs. 35 p.m. In case of with Life Cover, a Face Amount Related charge of Rs. 2 per 1000 SA
will also be charged only in the first Policy Year.
Ist yr- For annual premium upto Rs.
20,000-13%.For the portion of premium in
excess of 20,000-3% of the annual premium. In subsequent yrs-8% for premium upto 20,000
For the portion of premium in excess of 20,000-2% For SP- Rs
None but a transaction charge of Rs. 60 is
deducted for quarterly structured benefits paid
out by cheque.
Initial management charge of 5% per annum
on the net initial units (Units purchased with
first years regular premium)
Initial one time charge of Rs. 700/-
Equity component 0.5%Debt component 0.1%
None but FA related charge of 0.08% of FA
for SP & varies according to age for RP
Re.1 per 1000 SA subject to a max of Rs. 1000 in each of the first two years
Face Amount is insignificant Rs. 1000/- No cost of insurance
charged. They may charge in future.
20% of the outstanding regular premiums due during the 3- years period
No surrender value in the first 3 years
No surrender value in the first 2 years
Less than 1 year- 4% of the bid value of units1 yr or more but less than 2 yrs- 2% of the bid value of units
If 1 full yr’s premium or less are paid- 60% of bid value of units
If more than 1 full yr’s but less than 2 full yr’s premium are paid- 40% of the bid value of units
Charge for additional switches(Rs./ % of switching amt.)
Higher of Rs. 400 or 0.05 to 0.08% of the
amount switched
Prepared by Product DevelopmentBirla Sun Life Insurance
18th January, 2005.
Prepared by Product Development Child Policies: Qualitative AnalysisCOM/08/05-06/0375
August 9, 2005.
CHILDREN PLANS IN THE MARKETCOMPANY BSLI BAJAJ ALLIANZ AMP SANMAR HDFC ING VYSYA ICICI LICPRODUCT My Child Child Gain Yuva Shree Children Policy YoungStar Komal Jeevan Jeevan Kishore Jeevan Chhaya
Type of plan Endowment & MoneyBack Money Back Money Back Endowment Unit-Linked Endowment Endowment Money Back Endowment Money Back Endowment Money Back
Life Insured Child Child Parent Parent Parent Parent Parent Parent Child Child ParentFeatures
Not Applicable 20/60 18/60 18/60(55 for Life&Health Option) 18/55 20/60 20/50 Not Applicable Not Applicable 18/40
Maturity age (years) 35 75 75 75(65 for Life & Health Option) 65 70 26 years 45 yrs 65
30 days to17 years Not Applicable Not Applicable Not Applicable Not Applicable 0 to 15 0 to 15 0 to 10 0 to 12 0
Terms available (years) To age 24 and To age 21 5 to 20 10 to 25 10 to 25 10 to 25 10 to 25 10 to 25 To age 26 15 to 35 18 to 25
Min FA 50,000 1,00,000 25,000 FDNA 1,00,000 2,50,000 1,00,000 50,000 50,000
Max FA No limit 5000000 No limit High cover is 20 times premium FDNA No Limit No limit 2,50,0000 No limit No limit
Min premium (Annual) No minimum premium limit 5,000 No minimum premium limit Rs. 1800 Rs. 10,000 6,000 18,000 Rs. 50,000 No minimum premium limit
Same as the policy term Same as the policy term Same as the policy term Same as the policy term Same as the policy term Single pay Regular/Single
Yearly, Half yearly and Quarterly Single pay
Benefits:Death Face Amount + Policy Fund
Pay out structure FA + Bonus at maturity
Surrender value After 3 years After 3 yrs After 3 years At any time After 3 years After 3 years After 3 years After 3 years
Creating Life child Protection Plan
Smart Kid Unit Linked Regular Premium and Regular Premium II
Smart Kid (Unit Linked) II
Entry age for parent(Min/Max)
20/50 for all four versions
Policy term+ age of policyholder should not
exceed 70 yrs
60 (22 to 25 years for the child)
Entry age for a child (years)
0 to13 for all four versions
10,15, 20 & 25 for moneyback To age 15, 20, 25, 30 &
35 for endowment
No limitations on the minimum or maximum SA
3 levels of premium- Low cover is 5 times premium , medium cover is 10 times premium & high cover is
20 times the premium
No minimum premium limit
No minimum premium limit
Premium paying terms (years)
Single Pay, Short Pay and regular pay.
Till child attains the age of 18(min. 5 yrs).
Premiums are paid till the child atains age of 18
Same as the policy term
Premium paying frequency
Single Pay, Yearly, Half yearly, Quarterly &
Monthly
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly and Quarterly( premiums for half yearly and Quarterly mode would be slightly
higher)
Yearly, Half yearly ,Quarterly and Monthly
Yearly, half yearly, Quarterly& Monthly
Yearly, half yearly, Quarterly& Monthly
Single pay, Yearly, Half-yearly, Quarterly, & Monthly
Single Pay, Yearly, Half
yearly, Quarterly&
Monthly
Yearly, Half yearly,
Quarterly& Monthly
> Below age 7= ROP > Ages 7 to 18= FA + Bonus >Ages 18 to 24= Outstanding payouts(For a nominal amount,in case of parents death additional Face Amount not more than 10 lacs would be paid to the child)
Face Amount is paid immediately + 4
instalments also paid at the intervals under the plan
Maturity Benefit: WOP & FA + Bonus at maturity, Accelerated Benefit: FA + Bonus paid immediately, policy ends Double Benefit: FA on death & WOP & FA + Bonus at maturity
Life Option:FA+WOP. On maturity, the policy fund value is paid. Life & Health Option: SA+WOPand the extra health benefit will lapse without value. On maturity, the policy fund value is paid.
Face Amount is paid on death. In addition Face
Amount + Compounded reversionary bonus+ Terminal Bonus at maturity is paid at
maturity
Face Amount paid immediately + WOP
(Inbuilt) + Policy Benefits continue
(withdrawal benefits). Withdrawal is allowed anytime after 5 years of
the policy.
On the death of a parent FA.( 5 times the premium for SP) + Policy benefits
continue.
Face Amount + Guaranteed Additions
Face Amount + Accrued Bonus +
Final addition bonus
Face Amount is paid
immediately (Apart from
fixed benefits)+WOP
Policy Fund at maturity. Withdrawals allowed after 3 years. Additional amount
is made available for withdrawals every 5 years for the Cash Flow variant.
Child Gain 24 & 24 Plus At 18=25%
FA+ Bonus, At 20&22=25% FA, At
24=40% Child
Gain 21& 21 Plus 20%FA+Bonus at 18, 25% at 19&20, 35% at
21.
FA paid in 4 instalments during last 4 yrs of the
policy. Each instalment = 1/4th of the FA
Policy Fund at maturity. Withdrawals allowed provided the
balance in policy account is Rs 15,000. Premiums paid can be
increased or reduced to even zero provided 3 yrs' premiums have
been paid in addition to the above requirement of Rs 15,000.
Either in lumpsum or in 3 or 5 equal instalments
after maturity
Payout Structures: For regular premium:
Option 1: FA paid in the last 5 yrs- 25% in th 1st yr, 20% in the last 4 yrs,
Option 2: Choose to receive the money at critical educational
milestones + Bonus+ Guaranteed additions @
3.5% of the SA compounded for the first
four years. For unit-linked regular premium and regular premium II,
through the Payor Benefit Rider.
Through the Payor Benefit Rider
Instalments at age 18, 20, 22, 24 and GA and loyalty
additions at age 26
FA + Accrued Bonus + Final addition bonus
25% SA paid at the end of the last 3 yrs. On maturity,
balance SA+bonus+
final additional
bonus, if any.
After 3 years, (2 years in case of 5 & 6 years
premium payment term) Guaranteed min SV is
30% of premiums paid.
After 1 year. Full policy value after 4 policy
years.
Full policy value after 4th policy year
Prepared by Product DevelopmentBirla Sun Life Insurance
18th January, 2005.
Prepared by Product Development Child Policies: Qualitative AnalysisCOM/08/05-06/0375
August 9, 2005.
COMPANY BSLI BAJAJ ALLIANZ AMP SANMAR HDFC ING VYSYA ICICI LICPRODUCT My Child Child Gain Yuva Shree Children Policy YoungStar Komal Jeevan Jeevan Kishore Jeevan Chhaya
Type of plan Endowment & MoneyBack Money Back Money Back Endowment Unit-Linked Endowment Endowment Money Back Endowment Money Back Endowment Money Back
Life Insured Child Child Parent Parent Parent Parent Parent Parent Child Child Parent
Creating Life child Protection Plan
Smart Kid Unit Linked Regular Premium and Regular Premium II
Smart Kid (Unit Linked) II
Riders Waiver of Premium Inbuilt Waiver of Premium None
Policy Loan Available after 3 years No FDNA FDNA Available after 3 years FDNA FDNA No No No
Comments
Note:SV= Surrender ValueSA= Sum AssuredFDNA= Further data not available.
(Inbuilt additional benefits) 1. WOP
2. Family Income Benefit
1. Critical Conditions Cover & 2. Accident Cover
Inbuilt Critical Illness Rider ( Extra Health Option)
1. WOP (Inbuilt)2. Term Rider3. Accidental Death 4. Accidental Death, Disability & Dismemberment
1. WOP (Inbuilt)2. Income Benefit Rider3. Accident and Disability Benefit
1. Income Benefit Rider2. Accident and Disability Benefit3. Waiver of premium rider(TPD)
1. WOP 2. Term Rider
1. WOP (Inbuilt) 2. Accidental Death Benefit
90% of SV available after 3 years
Flexibility to withdraw money when the need arises and not on a pre determined
date.
Rebates on high Sum Assured
Compound reversionary bonus
A legal guardian can also take this policy for a child, No medical examination is
required
Child becomes owner of the
policy on attaining age 18.
Ideal for a parent who
wants to provide money
for his daughter's marriage.
Prepared by Product DevelopmentBirla Sun Life Insurance
18th January, 2005.
Prepared by Product Development Child Policies: Qualitative AnalysisCOM/08/05-06/0375
August 9, 2005.
CHILDREN PLANS IN THE MARKETCOMPANYPRODUCT
Type of plan
Life InsuredFeatures
Maturity age (years)
Terms available (years)
Min FA
Max FA
Min premium (Annual)
Benefits:Death
Pay out structure
Surrender value
Entry age for parent(Min/Max)
Entry age for a child (years)
Premium paying terms (years)
Premium paying frequency
LIC SBI LIFE TATA AIG KOTAK AVIVA METLIFE MAX NEW YORK LIFEJeevan Anurag Scholar II MahaLife Gold Assure Career Builder Assure Educare Starkid Child Advantage Plan Young Achiever Met Bhavishya Stepping Stones
Endowment Endowment Money Back Money Back Money Back Money Back Money Back Endowment Money Back Endowment Endowment Money Back Endowment Money Back
Parent Child Parent Parent Child/Parent Child/Parent Child Child Child Child Parent Parent Child Parent
18/60 Not applicable 20/60 18/60 Max 55 yrs Max 60 years Not Applicable Not Applicable Not Applicable Not Applicable 21/55 20/50 Not Applicable 21/60
70 65 70 70 To age 21 100 27 18 & 21 To age 22 FDNA FDNA To age 18 & 24 FDNA
Not applicable 0 to 17 Not applicable 0 to 15 30 days 30 days 30 days- 15 yrs 30 days- 8 yrs 0-17 yrs 0-17 yrs Not applicable
5 to 25 25 to 50 To age 18 21 yrs Whole of Life To age 27 To age 18 & 21 To age 22 10-30 yrs FDNA To age 18 & 24 11-26 yrs
50,000 50,000 50,000 50000 Rs. 50,000 Rs. 50,000 Rs. 50,000 Rs. 50,000 FDNA FDNA Rs. 36,000 1,00,000 50,000
No limit No limit No limit 10000000 No Limit No Limit No Limit No Limit FDNA 25,00,000 100,00,000 No Limit 100,00,000 No Limit
No minimum limit No minimum limit No minimum limit No minimum limit FDNA FDNA Rs. 6,000 6000 Rs. 2,500 p.m. Rs. 2,500 p.m.
Same as the policy term 10 yrs
FDNA
Face Amount SA SA SA
After 3 years After 3 years After 3 years After 3 years After 3 years After 3 years FDNA Yes FDNA After 3 yrs.
Marriage Endowment/ Educational Annuity
Children's Deferred Endowment Plan
Assure 21 Yrs Money Saver
Childrens' Endowment 18 & 24
65 (For child 21 or 25 yrs)
Educare 18: 30 days-8 yrs Educare 21:30 days-
11 yrs
0 (8 in case of Option A)/12
91 days- 13 yrs for age 18 option & 15 yrs for
age 24 option.
10 to 25 For Single Premium
5 Yrs
21 minus age of the child at entry or 25
minus age of child at entry as the case may be. Min tern is 8 yrs.
1,00,000- Regular 75,000- Single
No minimum premium limit
No minimum premium limit
No minimum premium limit
No minimum premium limit
Same as the policy term
Single, Regular and Limited - 10(7),
15(12), 20 (17), 25 (22) {n-3, where n is
the policy year}
Until the child attains the age of 18 years
Same as the policy term
Limited- only for the first 15 years
Same as the policy term
Same as the policy term
Same as the policy term
Same as the policy term
Same as the policy term
Same as the policy term
Same as the policy term
Yearly, Half yearly, Quarterly & Monthly
Yearly, Half yearly, Quarterly &
Monthly
Single Pay, Yearly, Half yearly, Quarterly &
Monthly or through Salary deductions
Yearly, Half yearly & Quarterly and Single
Premium
Yearly, Half-yearly, Quarterly and
Monthly
Yearly, Half-yearly, Quarterly and
Monthly
Yearly, Half-yearly, Quarterly and
Monthly
Yearly, Half-yearly, Quarterly and
Monthly
Yearly, Half yearly & Quarterly
Yearly, Half yearly & Quarterly
Yearly, Half yearly & Quarterly
Yearly, Half yearly,& Quarterly, Monthly &
single pay.
Yearly, Half yearly,& Quarterly & Monthly.
Face Amount + Bonus payable in lumpsum or in 10 hlf-yrly instalments at
the option of the beneficiary
During deferment period all the
premiums paid are refunded, After
deferment period sum assured is paid
3 options: immediate lumpsum payment of
FA+bonus, payment in 4 equal instalments of 25% of FA when the child attains 18 to 21
years, waiver of premiums to preserve the periodical benefits
SA irrespective of any withdrawals made.
50% SA to child if he is below 18 yrs.
Higher of SA or the accumulation account if the insured is more
than 18 yrs or the policy has been in
force for more than 5 yrs. If policy is less
than 5 yrs old & insured <18 yrs, then higher of the SV and
refund of all premiums is paid.
SA+ policy fund value or else this money can
continue to earn returns. If the nominee
is a minor, the beneficiary has the option of making
partial withdrawals subject to a minimum
policy value.
SA+WOP+ Fixed term benefits to
continue.
Refund of all premiums+interest+ accrued bonuses, if
any.
SA+bonus immediately+WOP+al
l pending survival benefits remain
unaffected.
FA + Bonus payable in lumpsum or in 10 hlf-yrly instalments at the option
of the life assured
During deferment period all the
premiums paid are refunded, After
deferment period sum assured is paid
20% of the Basic Sum assured during last 3 Policy years. At maturity 40% of
the Basic sum assured with
reversionary bonus and Terminal bonus.
25% of FA paid in 4 years from age 18 or 21
yrs (bonus in last instalment yr). Also
option to fully receive complete FA + bonus
10% of the SA is paid every 3 yrs, with the balance on maturity. There is also a 10% guaranteed addition after 10 yrs of the policy. On 21st
anniversary, you get remaining 40% of the
SA.
Premiums are paid only for the 1st 15 yrs. Guaranteed addition of 5% on SA from 10th yr onwards till
death. Plus non-guaranteed cash
dividends from 6th yr onwards
20%SA on child's18th birthday,20% on 21st birthday, 20% on 24th
birthday & 40% on 27th birthday. Also a
guaranteed addition of 10%SA on maturity or
death. Plus reversionary &
terminal bonuses is payable
10%SA guaranteed on death or maturity+
20%SA as education benefit at maturity+
non-guaranteed reversionary &
terminal bonuses.
20%SA at ages 18,19,20,21&22 +
guaranteed addition of 50% of premium+ sharing of profits
through reversionary & terminal bonuses.
On maturity, SA+ bonus addition is paid.
On maturity, policy fund value or the
option of continuing the unit account for a max period of 5 yrs
after maturity. A final bonus may also be
paid for with profits policy.
2 options to receive benefits depending on
the funding requirement. There are
fixed term benefits, periodic additions and
term additions.
Assures a guaranteed sum on 18th & 24th birthday of the life insured I.e. Face Amount+Bonus
5 yrs before maturity- 30% of SA
2 yrs before maturity- 35% of SA
At maturity- 35% of
SA+30% guaranteed addition +non
guaranteed bonus, if any.
After 3 years , 90% of Premium paid
excluding 1st years premium
After 3 years , 30% of Premium paid
excluding 1st years premium. 90% in
case of Single Pay.
Yes, after 2 policy years. A final bonus may also be paid on surrender in case of with profits policy.
Cash value on surrender (min 30% of
all premiums paid)
Prepared by Product DevelopmentBirla Sun Life Insurance
18th January, 2005.
Prepared by Product Development Child Policies: Qualitative AnalysisCOM/08/05-06/0375
August 9, 2005.
COMPANYPRODUCT
Type of plan
Life InsuredRiders
Policy Loan
Comments
Note:SV= Surrender ValueSA= Sum AssuredFDNA= Further data not available.
LIC SBI LIFE TATA AIG KOTAK AVIVA METLIFE MAX NEW YORK LIFEJeevan Anurag Scholar II MahaLife Gold Assure Career Builder Assure Educare Starkid Child Advantage Plan Young Achiever Met Bhavishya Stepping Stones
Endowment Endowment Money Back Money Back Money Back Money Back Money Back Endowment Money Back Endowment Endowment Money Back Endowment Money Back
Parent Child Parent Parent Child/Parent Child/Parent Child Child Child Child Parent Parent Child Parent
Marriage Endowment/ Educational Annuity
Children's Deferred Endowment Plan
Assure 21 Yrs Money Saver
Childrens' Endowment 18 & 24
Accident Benefit WOP Payor Benefit Rider Payor Benefit Rider Payor Benefit Rider Payor Benefit Rider.
Available after 3 years No FDNA FDNA Yes FDNA FDNA FDNA FDNA FDNA FDNA
1. Accidental death and Disability
benefit 2. Term Assurance 3. Critical illness
1. Accidental death and accidental total Permanent Disability 2. Premium Waiver Benefit 3. Critical illness
1. Payor Benefit Rider 2. Term Rider
3. Accident & Disability Rider 4. CI Rider
(only for parent)
1. Term Rider 2. Accident &
Disability Rider 3. CI Rider
Life Guardian Benefit & Accident Disability
Guardian Benefit
Inflation Indexation Rider
Accidental Death, CI, WOP( Accidental disability) & Term
Rider.
Accidental Death Benefit, CI, Term,
Term R&C & WOP Rider.
Permissible after the Policy acquires paid up value but before starting of payment of assured benefits.
Yes, after 3 policy years.
Yes, after the policy has acquired a cash
SV.
The maturity/survival benefits are paid only at the end of the selected
term irrespective of whether the policyholder
dies or survives the policy term where it can be
invested in an annuity.
Deferment at age 18 or 21
Option to delay the benefits and continue the policy even after
the maturiy date.
Policy will automatically vest in the name of the child
at age 18.
2 non-forfeiture options- Reduced
Paid-Up & Extended Term Insurance.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal LifeFEATURES
Regular Regular Regular Regular Regular Single Premium Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit
Yes, can change the level of cover Yes
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life
Regular Regular Regular Regular Regular Single Premium Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed
BENEFITS
Death
Name of ProductType Of Plan
Premium typeAge at Entry (Min/Max)
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Premium Paying Term
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain PlusName of Product
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value
None After three years
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus
5. Cash Fund 5. Cash Plus5. Growth Fund
Four Not Applicable No limit Three
Available Not Available Yes Yes Yes Yes
N/A
Cash Surrender Value after 3 years After three years After three years
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Investment Funds
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Change in Deposit Allocation
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain PlusName of Product Cash Surrender Value after 3 years After three years After three years
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Anytime s.t. the surrender charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
* IRDA has asked Bajaj to discontinue selling this
product.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Easy Growth Plan
Whole Life
Single Premium
0-75(60 for 5 times life cover)
N/a
Rs. 50,000
Whole of Life
Single pay
Min Rs. 10,000
OM KOTAK MAHINDRA
Premiums based on face amount
With One Times Life Cover: Higher of value
of units or guraranteed death benefit, less any
withdrawal. With Five Times Life Cover: Higher of
value of units or guranteed death benefit, less any
withdrawal.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Easy Growth Plan
OM KOTAK MAHINDRA
Policy Fund Value
1. Gilt Fund
2. Bond Fund
3. Balanced Fund4. Growth Fund
5. Aggressive Growth Fund
No
N/a
Anytime after 1st yr. No withdrawal charges from 2nd yr onwards.
Min amount of withdrawal is Rs.
10,000 leaving behind a value of Rs. 50,000
in the policy.
No Limit (But there is a bid offer spread)
1. Critical Illness Benefit 2. Accidental Death Benefit 3.
Pemanent Disability Benefit
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Easy Growth Plan
OM KOTAK MAHINDRA
N/a
A minimum guarantee of the Face Amount
makes this plan attractive.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II Easy Growth Plan
OM KOTAK MAHINDRA
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Flexi Plan
Endowment
Limited Premium
14-65
Min Rs. 50,000
Rs. 50,000
10 years - 30 years
OM KOTAK MAHINDRA
Allowed at each policy anniversary.
Increase in FA subject to
underwriting.
Limited- 3,5,7,10 or 15 yrs.
Min. Rs. 10,000, therafter in
multiples of Rs. 10,000
SA+ market value of units less any
unpaid premiums.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Flexi Plan
OM KOTAK MAHINDRA
1. Money Market Fund
2. Floating Rate Fund3. Gilt Fund
4. Bond Fund5. Balanced Fund6. Growth Fund
No
Higher of the Saor market value of
units
Part withdrawal afte yr 1. Min Rs.
10,000. Max subject to leaving a balance of Rs.
10,000 in the Main Account.
No Limit (But there is a bid offer
spread)
1. Critical Illness Benefit 2. Accidental Death Benefit 3.
Pemanent Disability Benefit 4. Life Guardian Benefit
5. Accidental Disability
Guardian Benefit.
Plan will acquire surrender value at the end of yr 1. For later years, the SV differs according to the surrender charge.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Flexi Plan
OM KOTAK MAHINDRAPlan will acquire
surrender value at the end of yr 1. For later years, the SV differs according to the surrender charge.
Automatic Cover Maintenance
Facility to keep the policy in force
in case the premiums remain
unpaid after 3 policy years.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
OM KOTAK MAHINDRA
Endowment
Limited
14-65
FDNA
5 and 10 years
3 Pay
Kotak Priviliged Assurance Plan
5 or 10 times as per the term chosen
Rs. 5,00,000 p.a for 5 yr term and Rs.2,50,000 for 10 yr term for ages below 18.
Min Rs. 25,000/lumpsum paid at any point of time
does not exceed 25% of the total basic regular premium
paid upto that date
SA + Value of units in the main and supplementary
account
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
OM KOTAK MAHINDRA
Kotak Priviliged Assurance Plan
Advantage Plus FundAdvantage Fund
Allowed
None
Where the annual premium remains unchanged
throughout the premium payment period, higher of total premiums paid in the main account or value of
units in the main account on the date of maturity and
value of units in the supplementary account on
the date of maturity.Otherwise only the value of units will be paid.
After third policy year in multiples of Rs.
25,000.Maximum of 2 withdrawals allowed in a
year.
Advantage Multiplier Fund ( only with the 10 yr term)
Anytime. Two free switches in a Policy Year.
Lock-in period for 3 years. 4th year-penalty is 2% 5th year- penalty is 1%. No surrender
penalty in the 5th year.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
OM KOTAK MAHINDRA
Kotak Priviliged Assurance Plan
Lock-in period for 3 years. 4th year-penalty is 2% 5th year- penalty is 1%. No surrender
penalty in the 5th year.
Capital guarantee over 5 years with an upside in
equity upto 80% ( for the 10 yr term)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
MET LIFE
Met Ultimate
Whole Life
N/a
N/a
To age 100
10 pay or 20 pay
N/a
Limited pay(5) with top-up
Allowed once a year anytime
after three policy years.
Increase would be subject to underwriting
Quote: Face Amount based
The three death benefit options: Option A: Level Death Benefit (Higher of the PF or the FA) (PPT=10 yrs)Option B: Increasing Death Benefit (PF + FA) (PPT=20 yrs)Option C: Cost of Living AdjustmentDeath Benefit (Higher of the 110% PF or FA) Where the FA increases by 5%(simple interest) every year for 20 yrs.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
MET LIFE
Met Ultimate
One Fund option
N/a
N/a
N/a
N/a
Policy Fund (Minimum
guarantee of 3.5% net p.a..
Guaranteed 5% credit in the first
2 years if bought in the year 2004. +
Bonus Additions if any.
Allowed after two policy years
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
MET LIFE
Met UltimateN/a
Ø The minimum guarantee of 3.5% (net) p.a. throughout the policy term.Ø For policies issued in 2004, a minimum rate of 5% p.a. will be credited for 2 years. Ø The policy also features Bonus additions (non-guaranteed).
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
MAX NEW YORK LIFE
Life Maker
Endowment
Regular
12years -60 years
Allowed
Rs. 15000
10 years - 58 years
Regular
Allowed
Min Sum Assured: Rs. 100000
Option 1: Level insurance cover: Higher of Insurance cover or value of units. Option 2: Increasing insurance cover: Sum of Insurance cover and value of units.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
MAX NEW YORK LIFE
Life Maker
Policy Fund
FDNA
1. Secured Fund
2. Conservative Fund
3. Balanced Fund4. Growth Fund
FDNA
Allowed - First two switches are free.
1.Personal Accident Benefit (PAB) rider 2.Dread Disease
(DD) rider
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
MAX NEW YORK LIFE
Life MakerFDNA
Bid-offer spread present
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
LIC
Bima Plus
Endowment
Single
12years -55 years
N/a
Rs. 20,000/-
10 years
Single pay
N/a
Rs. 20,000/-/Rs. 2,00,000/-
First 6 mths 30%SA + FV; next 6 mths
60%SA + FV; 100% SA+FV
thereafter except for
death in the 10th year 105%
SA + FV; If death is
accidental then 100% SA+FV irrespective of
the term
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
LIC
Bima Plus
Fund Value
None
1. Secured Fund
2. Balanced Fund
3. Risk Fund
No
None free (But two during the
policy term subject to a gap
of 2 years)
Inbuilt Accident Benefit Rider
Surrender anytime. No surrender
charge after 4 years.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
LIC
Bima PlusSurrender
anytime. No surrender
charge after 4 years.
It is a plan with no underwriting
required precisely why
the policy holder cannot take this plan for high Face
Amount.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
LIC
Bima Plus
Endowment
Regular
12years -55 years
N/a
Rs. 5,000/-
10 years
N/a
Rs. 50,000/-/Rs. 2,00,000/-
Regular pay(10 years)
First 6 mths 30%SA + FV; next 6 mths
60%SA + FV; 100% SA+FV
thereafter except for death in the 10th year 105%
SA + FV; If death is
accidental then 100% SA+FV irrespective of
the term
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
LIC
Bima Plus
Fund Value
None
1. Secured Fund
2. Balanced Fund
3. Risk Fund
No
None free (But two during the
policy term subject to a gap
of 2 years)
Inbuilt Accident Benefit Rider
Surrender anytime. No
surrender charge after 4 years.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
LIC
Bima PlusSurrender
anytime. No surrender charge
after 4 years.
It is a plan with no underwriting
required precisely why the
policy holder cannot take this
plan for high Face Amount.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
HDFC
Unit Linked Endowment
Endowment
Regular
18-60 yrs
Not Allowed
Rs. 10,000 annually
10-30 yrs.
Min Rs. 5,000
SA is based on the amount of premium with a low of 5 times premium to a high of
20 times premium.
Regular(Quarterly, Half-yearly, yearly).
Higher of the SA or the poliy fund value
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
HDFC
Unit Linked Endowment
Policy Fund Value
1. Liquid Fund
2. Secure Managed
3. Defensive Managed4. Balanced Managed
5. Growth Fund.
No
Allowed. Min amount is Rs. 10,000
Any no. of times. Premium re-direction instruction can
also be given.
Inbuilt Critical Illness & Accident Benefit Rider
Can be done anytime during the policy term. On
surrender of the policy before 3 yrs' premiums
have been paid, 25% of the outstanding premium
during this 3-yr period is charged.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
HDFC
Unit Linked Endowment
Can be done anytime during the policy term. On
surrender of the policy before 3 yrs' premiums
have been paid, 25% of the outstanding premium
during this 3-yr period is charged.
Riders are inbuilt in the plan.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
HDFC
Unit Linked Endowment
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
SBI LIFE
Horizon
Endowment
Regular
14-60 yrs(max maturity age-70)
Not Allowed
10-40 yrs.
SA + the poliy fund value
Min Rs. 1,20,000 Max Rs.
10,00,000.
Rs. 12,000 annually Max. Rs. 1,00,000
Regular(Monthly,Quarterly, Half-yearly). Yearly from
term 16 to 40.
Min Rs. 1,000 Max. equal to annualised regular
premium.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
SBI LIFE
Horizon
Policy Fund Value
1. Equity Fund
2. Bond Fund
3. Money Market Fund
Not Allowed
No
Not Available
Allowed after 3 policy yrs. First 2 withdrawals are
free.
Available from 2nd yr onwards & the policy ends
immediately.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
SBI LIFE
Horizon
This plan does not provide any flexibility as to
investment funds nor does it offer any riders.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
AMP SANMAR
Kanashree
Endowment
Regular/ Single
30 days- 65 yrs.
5-40 yrs.
Min Rs. 2500.
Min. for regular premium- Regular premium + 1 Lac Min for single premium- Single Premium + Rs. 5000
Decrease allowed to a min of 1 lac for
regular premium & Rs. 5000 for single
premium. Increasing the SA is
subject to undewriting.
Min Rs. 25000 for single premium Min
Rs. 10000 for regular mode
annually.
Regular(Quarterly, Half-yearly, yearly). & single premium
Higher of the SA or the poliy fund value
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
AMP SANMAR
Kanashree
Policy Fund Value
1. Capital Secure Fund
2. Balanced Fund
3. Growth Fund4. Equity Fund
No
2 partial withdrawals upto Rs. 5000 allowed after 3 premium
payments.Required balance after
withdrawal- Rs. 10000 or more. Rs. 100 per withdrawal
is charged.
One switch pre policy yr is free.
Subsequent switches charged at
1% of the switch subject to a min of Rs 100 & a max of
Rs 1000.
Accidental Death & Total Permanent Disability Benefit
Can be done anytime without any surrender
charges. For regular premium, atleast 3 yrs' premiums are
to be paid.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
AMP SANMAR
Kanashree
Can be done anytime without any surrender
charges. For regular premium, atleast 3 yrs' premiums are
to be paid.
This plan has lower charges & also the facility of premium
redirection.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
ICICI Pru Life
LifeLink II
Endowment
Single
Not Allowed
Rs. 25,000/-
Single
Min Rs. 5,000
0-62 yrs(60 in 500%SA option)
26,250/-(105% of initial premium) or 500% of initial premium
Max No limit
Min. 5 yrs.
Max maturity age-65 yrs(60 yrs
in 500% SA option)
Higher of initial death benefit or Fund Value is paid
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
ICICI Pru Life
LifeLink II
Policy Fund Value
1. Protector
2. Balancer
3. Preserver4. Maximiser
No
Not Available
Partial withdrawals
allowed after 1 policy yr &
limited to 25% of the unit value in the 1st 5 yrs of policy. A charge of Rs 100 will be
levied per withdrawal for the 1st 5 yrs. After 5 yrs, no restrictions on
partial withdrawals.
4 free switches in a yr. Min amount is
Rs. 10,000.
Can be done after payment of single premium.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
ICICI Pru Life
LifeLink IICan be done after payment of single premium.
There are no riders available.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
LifeTime II
Whole Life
Regular
Allowed
Rs. 18,000/-
Whole of Life
Regular
Min Rs. 5,000
0(18 yrs for level II SA)-60 yrs(35 yrs
for level II SA)2 levels of SA- a constant multiple of premium & an
increasing multiple.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any
withdrawals
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
LifeTime II
N/a
1. Protector II
2. Balancer II
3. Preserver 4. Maximiser II
No
Partial withdrawals allowed after 3
premiums are paid at no cost.
However, min amount of
withdrawal is Rs. 2000.
4 free switches in a yr. Min amount is Rs. 10,000. Additional switches charged
at Rs. 100 per switch.
Accident & Disability Rider
Waiver of Premium Rider
Critical Illness Rider
Major Surgical Assistance
Benefit Rider
Can be done after first yr.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
LifeTime IICan be done after first yr.
Cover begins at age 7 and ceases
at age 70
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Invest Shield Life
Endowment
Regular
0-55 yrs
Not Allowed
Rs. 8000 p.a.
10-30 yrs
Regular
Min Rs. 2500.
SA based on a multiple of the annual
contribution
Higher of Fund Value or the guaranteed value of the unit fund.(If age<7 yrs) If age>7 yrs, SA+ Higher of Fund Value or the guaranteed value of the unit fund
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Invest Shield Life
Not Allowed
Not Allowed
No
Higher of Fund Value or the guaranteed value of the unit fund.
Debt(min 70%)
Equity (max 30%)
Accident & Disability
Rider Waiver of Premium
Rider
Critical Illness Rider
Can be done after first yr.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Invest Shield LifeCan be done after first yr.
Facility to increase or
decrease the annual
contribution
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Invest Shield Cash
Endowment
Regular
0-60 yrs
Not Allowed
Rs. 8000 p.a.
10-30 yrs
Regular
Min Rs. 2500.
SA based on a multiple of the
annual contribution
Higher of Fund Value or the guaranteed value of the unit fund.(If age<7 yrs) If age>7 yrs, SA+ Higher of Fund Value or the guaranteed value of the unit fund
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Invest Shield Cash
Not Allowed
No
Higher of Fund Value or the guaranteed value of the unit fund.
Partial withdrawals can
be made from 6th yr onwards till the
end of policy term. Option to
withdraw 10% of the value of the units from the unit fund. Can
avail this option once every yr.Debt& money
market instruments(100
%)
Accident & Disability Rider
Waiver of Premium Rider
Critical Illness Rider
Can be done after first yr.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Invest Shield CashCan be done after first yr.
Facility to increase or
decrease the annual
contribution + liquidity.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Invest Shield Gold
Endowment
Limited
0-60 yrs
Not Allowed
Rs 25,000 p.a.
Limited (5,7 or 10 yrs)
Min Rs. 2500.
SA based on a multiple of the
annual contribution
10,15 or 20 yrs corresponding
with 5,7 & 10 yrs resp premium
payment terms.
Higher of Fund Value or the guaranteed value of the unit fund.(If age<7 yrs) If age>7 yrs, SA+ Higher of Fund Value or the guaranteed value of the unit fund
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Invest Shield Gold
Debt(min 70%)
Equity (max 30%)
Not Allowed
No
Higher of Fund Value or the guaranteed value of the unit fund.
Partial withdrawals can be made from 6th yr onwards till the end of policy term. Option to
withdraw 10% of the value of the
units from the unit fund. Can avail this option once
every yr.
Accident & Disability Rider
Critical Illness Rider
Can be done after first yr.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Invest Shield GoldCan be done after first yr.
Facility to increase or decrease the
annual contribution +
liquidity.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Premier Life
Endowment
Limited
18-60 yrs
Not Allowed
Rs. 60000 p.a.
Limited (3,5,7 or 10 yrs)
Limited (3,5,7 or 10 yrs)
SA based on a multiple of the
annual contribution (min multiple of 1 & max multiple of 25 times the annual
contribution) Min SA
Allowed. Charged at 1% of the top-up
amount. No charges for top-ups made
after 5 yrs.
Higher of SA(less any withdrawals) or value of units.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Premier Life
Policy fund value
1. Protector
2. Balancer
3. Preserver4. Maximiser
No
Partial withdrawals allowed after 3 policy yrs but
subject to SV. Min amount is Rs 10,000. 2 free withdrawals.
Additional withdrawals at 0.25% of the
withdrawal sub to a max of Rs. 1,000 is
charged.
4 free switches in a yr. Min amount is Rs. 10,000. Additional
switches charged at Rs. 100 per switch.
Accident & Disability Rider
Critical Illness Rider
Can be done after first yr.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Premier LifeCan be done after first yr.
Facility to increase or decrease the
annual contribution + liquidity.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Secure Plus
Endowment
Regular
0-60 yrs
Not Applicable
Rs. 6000 p.a.
10-30 yrs
Regular
Not Allowed
Min. Rs. 50,000
Max No limit
FA + PFV (3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard: (Term)*Annual premium 3. Enhanced: (Term + 5) * Annual premium)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Secure Plus
Not Allowed
Equity- max 20%
Not Allowed
No
Policy Fund + Investments made by the policyholder if it is more than the Policy Fund
Debt& cash-min 80%
1. Critical Illness (Accelerated) 2. Major Surgical Assistance 3. Accident and Disability Benefit4. Accident Benefit Cover5. Income Benefit 6. Waiver of Premium
After 3 years, 35% of all premiums
paid excluding the 1st year premium,
rider and extra premiums.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Secure Plus
After 3 years, 35% of all premiums
paid excluding the 1st year premium,
rider and extra premiums.
Unique facility of receiving maturity
proceeds as a lumpsum or over a
period of 3 or 5 yrs.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II Secure Plus
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Cash Plus
Money Back
Regular
0-60 yrs
FDNA
FDNA
Rs. 8400 p.a.
10-30 yrs
Regular
Not AllowedFA + PFV (3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard: (Term)*Annual premium 3. Enhanced: (Term + 5) * Annual premium)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Cash Plus
Not Allowed
Not Allowed
Policy Fund + Investments made by the
policyholder if it is more than the Policy Fund
Option of withdrawal from the
accumulated value of the
policy every yr, after 1st 5 yrs of the policy. An option to
withdraw 10% of the
accumulated value in the
policy till that yr.
Debt & cash- max 100%
1. Critical Illness (Accelerated) 2. Major Surgical Assistance 3. Accident and Disability Benefit4. Accident Benefit Cover
Guaranteed SV= 35% of all premiums paid excluding 1st yr's premium, rider benefits premium &
extra premiums, if
any.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Cash Plus
Guaranteed SV= 35% of all premiums paid excluding 1st yr's premium, rider benefits premium &
extra premiums, if
any.
Unique facility of receiving
maturity proceeds as a lumpsum or
over a period of 3 or 5 yrs.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II Cash Plus
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
ING VYSYA
Freedom
Money Back
Regular
8-65 yrs
Not Allowed
Rs. 15,000 p.a.
5-25 yrs
Min Rs. 5000
Min Rs 75,000
Max equal to one & a half times the
regular premium
Regular( Yearly, Half-yearly, quarterly & monthly)
Higher of SA or the balance in the fund account called the Individual Policy Account (IPA).
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
ING VYSYA
Freedom
Not Allowed
1. Debt Fund
2. Secure Fund
4. Growth Fund
Not Allowed
Yes
Maturity at age 70. Policy fund value is paid. In addition, 25% of the balance
in IPA is paid on the completion of 10,15,20 & 25 yrs resp.
3. Balanced Fund
2 free switches. Additional
switches are charged at 0.1% of the
amount switched sub to
a min of Rs. 100.
Can surrender the policy
anytime after 1st policy yr. There is the additional surrender
benefit upto a max of 25% of the balance in
the IPA less charges
provided the value of
remaining units is atleast Rs.
25000 anytime during the 6th
& 10th yr.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
ING VYSYA
Freedom
Can surrender the policy
anytime after 1st policy yr. There is the additional surrender
benefit upto a max of 25% of the balance in
the IPA less charges
provided the value of
remaining units is atleast Rs.
25000 anytime during the 6th
& 10th yr.Partial Survival Benefit.
However, this benefit will have to be exercised
within 5 yrs or it will lapse.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
ING VYSYA
Freedom
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
Whole of Life Money Back Endowment Endowment Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Variable Universal Life Endowment Endowment Whole Life Endowment Whole Life Endowment Endowment EndowmentFEATURES
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single Regular Regular Limited pay(5) with top-up Single Regular Limited Limited Regular Regular
0-60 0 -60 0 -60 18-60 0-60 0-67 0-60 0-69 30 days -60 years 18 years to 65years 18years-60 years 18years-50 years 18years-50 years 18years-60 years 18years-65 years 18years-65 years
1,26,000/No limit FDNA FDNA Rs. 50,000/ No limit Rs. 50,000/- / No limit Rs.20,000/- /No Limit Rs. 1,25,000/- / No limit FDNA FDNA
Yes, can change the level of cover Yes Not Available. Not Available. N/a N/a N/a Not allowed No N/a N/a
Rs. 18,000/- Rs.8400/- Rs.6000/- Rs. 10,000/- Rs. 10,000/- Rs. 25,000 Rs. 25000/- Rs. 25,000 p.a. Rs. 25,000 SP Rs. 5000 p.a. Rs. 12,000/- Rs. 25,000/- Rs.10,000/- Rs. 12000/Max Rs. 60000 Rs. 10,000/-
Terms Whole of Life 10 -30 years 10 -30 years 10 -30 years Whole Life Whole Life Whole Life Whole Life To age 70 To age 70 To age 70 10 years - 50 years Whole of life 10,15 & 20 Whole of life 10 years - 30 years 10 years - 30 years
Regular Regular Regular Regular Regular Single Premium Regular Single Premium Regular Single with top-ups Regular Regular 5 years Single pay Regular 10,15,20,25 & 30 yrs3,5, 10,15,20,25 & 30 yrs Regular
5,000 / No limit None None Rs. 5,000/-/No limit Rs. 10,000 / No limit Allowed Rs. 5,000/Equal to SP Rs. 5,000 Rs. 1,000 / No limit Rs.10,000 / No limit FDNA Not Applicable. 10,000 / No limit FDNA N/a N/a
BENEFITS
Death
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
Type Of Plan
Premium typeAge at Entry (Min/Max)
0-65 ( Risk commences at age 7). Min policy
term is 5.
0-64 ( Risk commences at age 7). Min policy
term is 6.
0-65 ( Risk commences at age 7). Min policy
term is 5.
Face Amount (Min/Max)
Minimum SA= 1.01* Single Premium Maximum SA = y* Singlepremium where y varies as per
age band.
Minimum SA= 1.01* Annual Premium Maximum SA = y* Annual premium where y varies as
per age band.
Minimum SA= 1.01* Single Premium
Amount Maximum SA =
y* Single premium where y varies as per
age band.
5 times the annualised premium/y times the annualised premium where y varies as per different age bands.
1.1 times the single premium or (Rs. 50,000+ single
premium) whichever is higher/y times the single premium where y varies
as per different age bands.
5 times the annualised premium or Rs. 50,000 whichever is higher/y times the annualised
premium where y varies as per different age
bands.
Fixed at 120 times the monthly premium
10 times the annual premium subject to a max of Rs. 6,00,000
Rs. 1,25,000 for Premium Payment Term (PPT) greater than or equal to 10
yrs. For PPT of 3 or 5 yrs, min SA is 10
lakhs.
Premiums based on face amount
Change in Face Amount
Yes (Also an option of increasing FA option available for ages 18 to 35- FA increases by 15% from the beginning of
4th to 10th year s.t. a max of 3 lakhs.
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease possible s.t. minimum allowed
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01 times the Single
premium. Increase in SA after decease in SA is
subject to underwriting
Increase possible every 3 years upto 4 times. (Amount
lower of the 25% of the original Sum Assured &
1,00,000), Decrease in sum assured is allowed in
multiples of Rs. 1000. After decease the SA must be
atleast 5 times the Annual premium. Increase in SA
after decease in SA is subject to underwriting
Decrease in sum assured is allowed in multiples of Rs. 1000. After decease the SA must be atleast 1.01
times the Single premium. Increase in
SA after decease in SA is subject to underwriting
Not Available. However, an option to reduce
regular premium after two full years' premium payments is received, is
available.
Allowed on certain occassions and on
request upto age 65 or start of the last
year of PPT whichever is earlier.
Min Premium Payable
Annual : Rs. 15000
Half yearly :Rs.7500
Quaterly : Rs. 3750 Monthly :
Rs 1500
Rs. 12,000/- p.a./Max Rs. 1,20,000
Rs. 25,000/- for PPT of 10, 15, 20, 25 or 30 years and Rs. 2
Lakhs for PPT of 3 or 5 yrs/ No max limit on
annual premium
Q - Rs. 2620, Semi Annually- Rs. 5115, Annual- Rs.10000
15 years, 20 years & 30 years
10 -30 years. The product is an
endowment product to age 70.
Premium Paying Term
Regular and short pays - 3,5,7,10 and 15
pays
Top up premium (Min/Max)
Min- Rs. 10,000( 100% allocated to the funds)
Allowed- Min Amt Rs. 5000
Rs. 5,000/Annual premium multiplied by the premium paying
term under the policy.
Higher of Policy Fund or the Face Amount (Fixed or
Increasing) chosen less any withdrawals
SA + FV(3 level of covers -1.Basic: (Term-5)*Annual premium, 2. Standard:
(Term)*Annual premium & 3. Enhanced: (Term + 5) * Annual premium)
Higher of the Policy Fund or the Face Amount
Higher of the Face Amount or Policy Fund Value less
withdrawals. (If younger than 7years or older than 70 yrs
only the policy fund would be payable)
Higher of Sum Assured less partial withdrawals or the bid price of units.
If 7>Age<70 then the bid price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the
price of units. If 7>Age<70 then the price of the units is
paid.
Higher of Sum Assured less partial withdrawals or the price of units. If
7>Age<70 then the bid price of the units
are payable.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher.
Sum Assured less partial withdrawals, if any,
made within 24 months prior to date of death or value of units whichever
is higher. Age< 7 yrs, only Policy Value is paid.
Sum Assured + Value of units. If age<7, then only value of units is
payable.
Higher of the Policy Fund or the Face Amount less the
partial withdrawals. • If age at
the time of death is less than a year 20% of the Face Amount is paid. Similarly, if it is
1, 2 or 3 years
If death occurs in the 1st year, 110% of the
premium paid is payable but in case of an accidental death in the first year or death
after the first year higher of the Face
Amount or the policy fund is paid.
Higher of the Face Amount or the Policy
Fund
Higher of SA or policy value. If death within
yr 1, 110% of the annual premium.
Higher of the SA or fund value. If death occurs within yr 1, 110% of regular
premiums paid or fund value in respect of regular premiums paid, whichever is
higher.
Greater of the Fund Value in respect of
regular premiums or SA. Value of units attributable to the additional single
premium would also be payable.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + the amount in supplementary
account less withdrawal
Future Perfect
Endowment
Regular
8-55 yrs
Not Allowed
Rs. 15,000 p.a.
5-25 yrs
Min Rs. 5000
Min Rs 75,000 Max equal to
one & a half times the regular premium chosen.
However, after
Regular( Yearly, Half-yearly, quarterly & monthly)
Higher of SA or the balance in the fund account called the Individual Policy Account (IPA). On death before age 12, only IPA balance is payable.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II
N/a Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Policy Fund Value Not Applicable
None After three years After three years N/a
1. Preserver
Only one fund
1. Liquid 1. Equity 1. Equity Fund 1. Equity Index Plus 1. Equity Index Plus 1. Equity Index Fund 1. Equity Fund 1. Equity Index Fund 1. Equity 1. Secure
Secure Fund
1. Secure Fund 1. Secure Fund 1. Money Market Fund 1. Money Market Fund
2.Protector 2. Secure Managed 2. Debt 2. Equity Gain Fund 2. Equity Fund Plus 2. Equity Fund Plus 2. Equity Plus Fund 2. Equity Gain Fund 2. Pure Equity Fund 2.Income 2. Balance 2. Growth Fund 2. Growth Fund 2. Gilt Fund 2. Gilt Fund
3.Balancer 3. Defensive Managed 3. Balanced 3. Debt Fund 3. Debt Plus 3. Debt Plus 3. Debt Plus Fund 3. Debt Fund 3. Debt Plus Fund 3.Liquid 3. Growth 3. Balanced Fund 3. Balanced Fund 3.Balanced Fund 3.Balanced Fund4. Maximiser 4. Balanced Managed 4. Cash 4. Balanced Fund 4. Balanced Plus 4. Balanced Plus 4. Balanced Plus Fund 4. Balanced Fund 4. Balanced Plus Fund 4.Growth 4.Growth Fund 4.Growth Fund
5. Cash Fund 5. Cash Plus 5. Cash Plus 5. Balanced 5. Bond Fund5. Growth Fund
Four Not Applicable No limit Three One Not applicable Not Applicable.
Available Not Available Yes Yes Yes Yes Yes No Not Applicable. No No
N/A N/A None N/a N/a
Cash Surrender Value after 3 years After three years After three years No surrender charges
Maturity/Survival/ Vesting
Higher of the Accumulated value (Guaranteed bonuses declared ) or value of
investments
Policy Fund. (In case of secure fund option higher of the policy
fund and the premiums allocated in
this fund less the withdrawals)
Policy Fund(In unitised product
guranatee the value not to fall below a
certain %)
Higher of policy value or min maturity value
equal to annual premium*policy term
less any partial withdrawals.
Value of all units including those of additional single premiums, if any.
Higher of the Face Amount or the Fund
Value
Higher of the Face Amount or the Fund
Value + market value of the units in supplementary
account
Withdrawals
Yes, after first 3 full years. Min withdrawal amount of Rs.
2,000/-
Can withdraw upto 10% of the Accumulated
value after the first 5 years
Allowed provided fund balance after withdrawal and charges does not fall below the Face Amount
Full or partial withdrawal is allowed anytime after
payment of single premium. Min amount of
withdrawal is Rs.1000 and a minimum balance of Rs. 10000 should be maintained in all the
funds.
Full or partial withdrawal is allowed anytime after
payment of single premium Min amount of withdrawal is
Rs.1000 and a minimum balance of Rs. 10000 should
be maintained in all the funds.
Min amount of withdrawal is Rs.1000
and a minimum balance of Rs. 10000 should be maintained
in all the funds.
Partial or full withdrawals allowed after one year from
commencement provided regular
premiums (including top-ups) have been paid for 2 full yrs. Min amount of withdrawal is Rs. 1,000 and a minimum balance of Rs. 25,000 must be
maintained.
Partial or full withdrawals allowed after one year. Min
amount of withdrawal is Rs. 5,000 and a
minimum balance of Rs. 20,000 must be
maintained.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years. Four withdrawals in a year
After three years with reduction in the Face
Amount
Allowed only once for 15 & 20 yr term
during the last five policy years. Fund
value after withdrawal should not
be less than Rs. 20,000.
Allowed after 10 yrs.Min amount is Rs. 5000 & min balance
after withdrawal should not be less than Rs. 50,000
Allowed after 2 yrs. Min amount of
withdrawal is Rs. 5,000 provided the
fund value of accumulation units immediately after deduction of the
amount withdrawn is not less than Rs.
50,000.
Option to withdraw money from the fund,
through partial or complete surrender of
units
Investment Funds
One Investment Fund option
Fund Switch (Free Switches in a year)
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be
charged at 1% of the switch amount or Rs.
100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount or
Rs. 100 whichever is higher.
Three subject to min amt of Rs. 5000 or the fund value whicever is lower. Further swicthes will be charged at 1% of the switch amount
or Rs. 100 whichever is higher.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Three free switches every Policy Year subject to a minimum switching amount of Rs. 5,000 or
the fund value, whichever is lower.
Yes, Two free changes in a year
One(Can either switch 100% of the
fund to another fund or the min amt switched & the
balance in the fund should not be less
than 10,000.
Two(Can either switch 100% of the
fund to another fund .The min amt
switched & the balance in the fund should not be less
than 10,000.)
No Limit (But there is a bid offer spread)
No Limit (But there is a bid offer spread)
Change in Deposit Allocation
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Possible at any Policy Anniversary. The
apportionment to any Fund must be atlest 5%
of the investible amount.
Available upto two times a year.
Available upto two times a year.
However, the min allocation in each
selected fund must be 10%.
Riders Available
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit
4. Waiver of Premium
1. Critical Illness (Accelerated) 2. Major Surgical Assistance
3. Accident and Disability Benefit4. Accident Benefit Cover
5. Income Benefit 6. Waiver of Premium
1. Accidental Death Benefit
2. Critical Illness Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death2. Accidental Permanent
Total/Partial Disability3. Critical Illness
4. Hospital Cash Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death Benefit 2. Accidental
Total & Partial Permanent Disability
Benefit 3. Critical Illness Benefit 4. Hospital Cash
Benefit
1. Accidental Death & Dismemberment
2. Critical Illness & Permanent Total
Disability 3. Hospital Cash
Benefit
Inbuilt Accidental Death & Permanent Total Disability rider.
Accidental Death Benefit
AD&D, CI & PTD and HCB.
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental
Disability Guardian Benefit
1. Term/Preferred Term Benefit
2. Accidental Death Benefit
3. Permanent Disability Benefit4. Critical Illness
Benefit5. Life Guardian
Benefit6. Accidental Disability
Guardian Benefit
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.
Future Perfect
Not Allowed
1. Debt Fund
2. Secure Fund
3. Balanced Fund4. Growth Fund
Not Allowed
Yes
Maturity at age 80. Policy fund value is paid. In
addition, on attaining age 60,
5% of the balance in the
IPA is paid initially &
increasing by 0.5% thereafter
for every yr.
2 free switches. Additional
switches are charged at 0.1% of the amount
switched sub to a min of Rs. 100.
Can surrender the policy
anytime after 1st policy yr. There is the additional
surrender benefit upto a max of
25% of the balance in the
IPA less charges provided the
value of remaining units
is atleast Rs. 25000 2 times
between the 6th yr & due date of
1st survival benefit.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan IICash Surrender Value after 3 years After three years After three years No surrender charges
Comments
Surrender Value
Surrender possible after one year
Anytime after payment of first premium. No surrender charges.
Available after one year from commencement provided two regular premiums have been paid including top-ups. The surrender penalty is 100% in the first year, 25% in the second year, 15% in the third year, 10% in the 4th year, 5% in the 5th year and 0% thereafter.
Available after one year from commencement . The surrender penalty is 100% in the first year, 10% in the second year, 8% in the third year, 6% in the 4th year, 4% in the 5th year, 2% in the 6th yr and 0% thereafter.
The account value can be withdrawn after 3 full
years from commencement. There is no surrender penalty
for early exit.
After two years s.t. surrender charges
Anytime after one policy year
After two years s.t. surrender charges
Yes, after 2 policy years. SV equal to value of units less early redemption
charge.
Full surrender value after two years s.t. surrender charges
Full surrender value after two years s.t. surrender charges
After 3 years. Surrender charge of 2.5% of the FV. No Surrender Charge after 10th year.
After 3 years. Surrender charge of 2.5% of the Amount withdrawn. No Surrender Charge after 10th year.Anytime s.t. the surrender
charges
Cover begins at age 7 and ceases at age 70
Guaranteed Bonus is credited annually. In the first year this bonus is fixed at 4%.
The plan has a fund management charge of
0.8% which is the lowest in the market
The flexibility of Unit Gain plan comes at very high
price.
Addition of the Pure Equity Fund based on Islamic principles. This fund will not invests in companies dealing with
gambling, contests, liquor, entertainment, hotels, banks and FI's.
LifeLong has few unique features like -
It can be taken as single as well as joint
life and the Face Amount and the premium can be
indexed to inflation.
Only one fund. No facility for top-ups. Minimum maturity amount makes this
plan attractive.
Capital Guarantee on the investments
made in Secure fund. Facility of partial
withdrawals available only after 10 policy
years.
SA is reduced on each partial
withdrawal. All the flexibilities come
along with a price.
A minimum guarantee of the Face Amount
makes this plan attractive.
A minimum guarantee of the Face Amount
makes this plan attractive.
* IRDA has asked Bajaj to discontinue selling this
product.
Future Perfect
Can surrender the policy
anytime after 1st policy yr. There is the additional
surrender benefit upto a max of
25% of the balance in the
IPA less charges provided the
value of remaining units
is atleast Rs. 25000 2 times
between the 6th yr & due date of
1st survival benefit.
This plan has no withdrawal/liquidi
ty benefit.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
COMPANY ICICI HDFC STANDARD ALLIANZ BAJAJ TATA AIG AVIVA AVIVA AVIVA AVIVA AVIVA
LifeTime II Cash Plus Secure Plus. Endowment Unit Linked Unit Gain Unit Gain SP Unit Gain Plus Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Invest Assure LifeBond 5 Life LongTreasure Plus Save Guard Freedom Life
OM KOTAK MAHINDRA
OM KOTAK MAHINDRA
Name of Product
Kotak Safe investment plan
Kotak Safe Investment Plan II Future Perfect
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Individual Unit Linked Products
Company BIRLA SUN LIFE INSURANCEProduct Name ClassicLife Premier PrimeLife LifeCompanion SimplyLifeBid Offer Spread No No No No No
Premium Allocation
Premium Payment Term 5-9 payYear 1 97.0% 70.1% 45.4% 35% 87% 96.50% 65% 75%
Year 2 N/A 95.0% 92.5% 92.5% 96% N/A 20% 97.8%
Year 3 N/A 95.0% 92.5% 92.5% 96% N/A 20% 97.8%
Year 4+ N/A 95.0% 95.0% 95.0% 98% N/A 15% 97.8%
Top-up allocation 98% 98.0% 98.0% Not Allowed Not Allowed
1% p.a. for Balancer Fund
Administration Charge
Rs. 22/- per month Rs. 60 p.m. None Rs. 60 p.m.
Face Amount related Charge
None
Cost of Insurance (per thousand Face Amount- Annual charge)
30 years 1.17 1.11 1.171 1.17 1.28840 years 2.15 2.04 2.15 2.15 2.36550 years 5.53 5.25 5.532 5.53 6.085Surrender Charge % of the annualised premium % of the Premium % of Single Premium % of policy premium % of annualised first yr premium
Year 1 100% 25% 2% 100% 15%Year 2 100% 15% 1.5% 25% 14%Year 3 10% 1.25% 10% 11%Year 4 7% 1% 0% 9%Year 5+ 0% 5%. Year 6- 3%. Year 7 onwards-Nil Nil 0%
Flexi Plans (Save Plus, Cash Flow and Life Line)
Single Pay
10-14 pay
15-pay or greater
Nil premium load from Policy Year 6 onwards.
Investment Management Fee (as a % of the investment Fund)
Enhancer-1%Builder-1%
Protector-1%
1% p.a. for Protector, Builder and Enhancer and 1.25% p.a. for Creator
and Magnifier Funds.
1% for Assure, Protector, Builder and Enhancer and 1.25% for Creator
and Magnifier Fund.
1% p.a. charged by adjustment of daily unit prices for Balancer Fund
For premium 20,000-49,999- Rs. 35 For premium 50,000-
99,999- Rs. 25 For premium 1,00,000 and above- Rs. 20
2.88/- per 1000 of the FA in the 1st 10 yrs except the 2nd yr where it is 15.24/- per 1000
of the FA. (From the 11th year onwards this will increase subject to a maximum of 3.75%
per year)
Rs. 2 per 1000 SA for Policy Years 1-3 only for premium 25,000-49,999. For premium 50,000-99,999- 1.25.
For premium 1 lac to 3,99,999- 0.40. For premium 4 lac and above-
0.30
Rs. 8 per 1000 SA in 1st 5 yrs. In next 5 yrs, Rs. 6 and thereafter Rs.
3.75 per 1000 SA.
Rs. 5.5 per 1000 FA charged for Policy Years 1-5 and Nil from 6
onwards
24% in the 25th month, It reduces by 1% for every month thereafter
7% for yr 5, 4% from yr 6 and Nil onwards
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Switching between the Funds
One Two Two Not Applicable Two
Rs. 100 Rs. 100 Rs. 100 Not Applicable Rs. 100
N/a Two Two Not Applicable N/a
Rs. 100 Rs. 100 Not Applicable* IRDA has asked Bajaj to discontinue selling this product.
Number of free switches per year
Charge for additional switches(Rs./ % of switching amt.)Change in Deposit Allocation PercentageNumber of free changes per year
Charge for additional change
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
LIC ICICI
Jeevan Plus Lifetime II Secure Plus/Cash plus Invest Shield Life Invest Shield Cash
No No No No No
Regular Single Regular Regular Regular Regular
43.0%
Same as Year 1 Not Applicable 96% 85%
97.5% for the same bands as above Not Applicable 96% 85% 97% for all slabs 97% for all slabs
97.5% for the same bands as above Not Applicable 96% 95% 97% for all slabs 97% for all slabs
98.75% 98.75% 99.0% N/a 99% 99%
N/a For debt and equity funds- 1.25%
Administration ChargeRs. 60/- per month 1.25% of FV Rs. 50 per month Rs. 50 per month
0.10% per 1000 SA under the basic plan in each of the first 2 years. None N/A N/A
Level 1 FA Level 2 FA
1.46 1.44 1.61 1.48
2.57 2.39 2.73 2.54 FDNA FDNA
6.56 5.59 6.46 6.05
% of bid value of units % of the Policy Fund
30% 1% 100%
N/a
100% 100%
0% 0% 75% 90% 90%
0% 0% 60% 70% 70%
0% 0% 40% 60% 60%
0% 0% 0%50% & so on 50% & so on
5,000-9,000- 82% 10,000-19,000- 84% 20,000- 49,000- 85%
50,000 and above- 85.5%
25,000- 49,000- 95% 50,000- 99,000- 96% 1,00,000- 4,99,000- 96.40%
5,00,000 & above- 96.70%
Upto 35,999- 81%36,000 to 99,999-83%
1,00,000-4,99,999-85%5,00,000 & above-88%
<15000- 70% 15000-24999-72% 25000-49999-75%
>50000 - 77%
<15000- 70% 15000-24999-72% 25000-49999-75%
>50000 - 77%
For the same slabs as above, the rates are 90% for the 1st slab and
92% for the next 3 slabs.
For the same slabs as above, the rates are 90% for the 1st slab and
92% for the next 3 slabs.
6th to 10th year- 98%11th year and thereafter-99%
Bond Fund- 1% p.a. Secured Fund- 1% p.a. Balanced Fund - 1.25% p.a.
Growth Fund - 1.5% p.a.
Maximiser-1.5%Balancer-1%
Protector-0.75%Preserver-0.75%
For debt and money market funds- 1.25%
Rs. 15 p.m. 1% per 1000 SA under the basic plan subject to a maximum of Rs. 1000 in each of the first 2 years.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Switching between the Funds
Four Four N/a N/a N/a
Rs. 100 Rs. 100/- N/a N/a N/a
Not Applicable FDNA N/a N/a N/a
Not Applicable FDNA N/a N/a N/a
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
HDFC Allianz Bajaj
Invest Shield Gold Premier Life Life Link II Endowment-Unit Linked Unit Gain Unit Gain SP Unit Gain Plus
No No No No 5% 5% No
Limited Limited Single Regular Regular Single Regular
73.0% 30.0% 100.0% 76.0%
N/A 73.0% 98% N/A 97%
Same as Year 2 Same as Year 2 N/A 99% 99% N/A 97%
97% for all slabs & 1% thereafter N/A 99% 100% N/A 97%
99% 99% 99% 100% 100% 98%
For debt and equity funds- 1.25%
Administration ChargeRs. 50 per month Rs. 60 per month Rs. 20 per month Rs. 15/- per month 1.25% of FV 1.25% of FV
N/A N/A N/A None None None None
1.44 1.71 1.29 1.29 1.29
FDNA FDNA 2.39 1.40 2.26 2.26 2.26
5.59 3.50 5.77 5.77 5.77
% of the Policy Fund
100% 100% 5% 100%
90% 25% 4% 100%
70% 60% 3% 100%
60% 40% 0% 0%
50% & so on 100% 0%0%
<50000- 81% <500000- 85%
>=500000-88%
For a 3 yr term 60000-499999-87% >=500000-89% For a 5 & 7 yr term, 88% and
90% resp. for the same slabs.
50000-99999- 95% 100000-499999- 97%
500000 & above- 98%
For the same slabs as above, the rates are 92.5% for the 1st slab &
95% for the next 2 slabs.
For a 3 yr term for the same slabs the rate is 96%
For a 5 & 7 yr term, the rate is 97%
For a 5 & 7 yr term, the rate is 98% for the 4th and 5th yr & 100%
therafter.
99% After 5 yrs- 100%
Maximiser- 1.5% Balancer- 1% Protector- 0.75%
Preserver- 0.75%
Maximiser- 1.5% Balancer- 1% Protector- 0.75%
Preserver- 0.75%
Liquid Fund- 0.8%Secure managed- 0.8%
Defensive Managed- 0.8%Balanced Managed- 0.8%
Equity 1% + 0.5%*Debt 1% + 0.1%*
Balanced 1%Cash 1%
*Transaction charge
Equity 1% + 0.5%*Equity Gain- 1.5%+0.5%
Debt 1% + 0.1%*Balanced 1%
Cash 1%*Transaction charge
Equity Plus- 1.5% + 0.5%* Equity Index- 1% + 0.5% Balanced- no specific charges Debt Plus- 0.7% + 0.1%
Cash Plus- 0.7% + 0.1%
Rs. 20 per month escalating at 5% p.a.
20% of the outstanding regular premiums due during the 3- years
period
No Surrender penalty for partial or full withdrawals.
No Surrender penalty for partial or full withdrawals.
0%(May charge 10% of the bid value in future)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Switching between the Funds
N/a Four Four Unlimited Three Three Three
N/a Rs. 100 per switch Rs. 100 per switch 0.0% 1% s.t. a min of Rs. 100/- 1% s.t. a min of Rs. 100/- 1% s.t. a min of Rs. 100/-
N/a N/a N/a FDNA Yes Yes Yes
N/a N/a N/a FDNA None None None
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Aviva
Unit Gain Plus SP* UnitGain Super UnitGain Premier SP FamilyGain Life Long Life Bond-5 Treasure Plus
No No No No 5% None 5%
Single Regular Single Regular Regular Limited pay(5) Regular
98.0% 105.0% 30.0% 100%
N/A 95% for all the above packs NA 97% 100%
N/A 95% for all the above packs NA 97% 100%
N/A Yr 4-5 -96% for all the above packs NA 97% 100%
Yr 6+- 98% for all the above packs NA 97%
98% 98% 100% 98% 101% 100% Not Applicable
Secure Fund- 1.5%
Administration ChargeNo fixed charge per month Rs. 59/- per month
None None None None None None None
1.29 1.74 1.74 1.74 FDNA FDNA FDNA
2.26 2.82 2.82 2.82 4.25 4.25 FDNA
5.77 6.53 6.53 6.53 FDNA FDNA FDNA
100% 100% 0%
25% 10% 0%
15% 8% 0%
10% 6% 0%
5% Yr 5 and 0% thereafter 0%
Silver- 88% Gold- 90%
Diamond- 92% Platinum- 93%
For premiums< 50,000 - 98%
50,000 to 99,999 - 99% 1,00,000 & above - 100%
These allocation % would decrease by 1% for each band of contribution for the
Quarterly & Monthly premium paying mode
Varies with the premium size & the premium paying frequency.
Equity Plus- 1.5% + 0.5%* Equity Index- 1% + 0.5% Balanced- no specific charges Debt Plus- 0.7% + 0.1%
Cash Plus- 0.7% + 0.1%
Equity Plus Fund- 1.5%+0.5% transaction charge
Equity Index Fund- 1%+0.5% transaction charge
Debt Plus Fund- 0.7% + 0.1% transaction charge
Balanced Fund- according to the proportion in the underlying funds.
2.25%. Fund admin charge of 1% p.a. of the net assets value of the
funds for first 5 yrs only. Transaction charge of 0.5% of the equity
investment and 0.1% of the debt investments.
Pure Equity Fund- 1.5%+0.5% transaction charge
Equity Index Fund- 1%+0.5% transaction charge
Debt Plus Fund- 0.7% + 0.1% transaction charge
Balanced Fund- according to the proportion in the underlying funds.
5% p.a. for two years1% p.a. on both initial units and
accumulation units.
5% per annum for first 5 years. 1.25% per annum on both initial units and
accumulation units.
Rs. 20 per month escalating at 5% p.a.
Rs. 50 per month escalating at 5% p.a.
Rs. 50 per month escalating at 5% p.a.
Rs. 50 per month (Annual increase s.t. to a max. of 15% of the previous level of
charge)
Rs. 37/- per month and an additional management charge of 5% on the net
initial units of the policy.
No Surrender penalty for partial or full withdrawals.
If surrendered in the first 5 years the surrender charge would be 1-1/(1.05)n where n is the
outstanding premium paying term and fraction thereof I.e 5-elapsed
period
If surrendered in the first 5 years the surrender charge would be 1-1/(1.05)n
where n is the outstanding premium paying term and fraction thereof I.e 5-elapsed
period
On Surrende, different levels of early redemption charges will be deducted
depending upon balance term of the policy.
4% Yr 5, 2% in the 6th yr and 0% thereafter
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Switching between the Funds
Three Three Three Three N/a One Not Applicable
1% s.t. a min of Rs. 100/- Rs. 100 per switch Rs. 100 per switch Rs. 100 per switch N/a 0.5% (s.t.a minimum of Rs. 100/- ) Not Applicable
Yes FDNA FDNA FDNA N/a FDNA Not Applicable
None FDNA FDNA FDNA N/a FDNA Not Applicable
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Aviva LIC MET LIFE OM KOTAK
Save Guard Freedom Life Bima Plus Met Ultimate Met Smart Kotak Safe Investment plan
5% 2% 5% N/a No Yes- 0.10% to 0.43%
Limited Pay Limited Pay Single Regular 10 years 20 years 10 years 20 years Regular
FDNA 95.0% 93% 91% 93% 93% 86%
N/a 95% 93% 91% 93% 93% 96.5%
95% 93% 91% 93% 93% 96.5%
99% 93% 91% 93% 93% 96.5%
2% in the last year
101% 101% for all the above premium amounts 98.5% 98.5% 96.5% 96.5% N/a
1.35%
Administration ChargeFDNA
None None Rs. 4 per 1000 SA for first yr only
0.15540 for age 35 0.1045 for age 25 FDNA N/a FDNA 1.42
0.35468 for age 45 0.1315 for age 35 FDNA N/a 2.38
0.97738 for age 55 0.3001 for age 45 FDNA N/a 5.53
% of the Policy Fund
4% 10% Not available N/A 100%
3% 6% 100%
2% 4.5% 100%
1% 3% 2.5%
0% 0% 2.5% (No SC after10th yr.)
Varies with the premium size & the premium paying frequency.
<1,00,000=100.5% >=1,00,000 and <3,00,000=101%
>=3,00,000 and <100,00,000=102% >=
100,00,000=103%
1.5% on all three funds namely Secure, Growth & Balanced.
1.0% p.a.on all three funds namely Secure, Growth & Balanced.
Risk Fund -1%Balanced Fund -1%Secured Fund -1%
Preserver-1.25% Protector-1.25% Moderator-1.5% Balancer-1.5% Accelerator-1.75% Multiplier-
1.75%
1. Money Market- 0.6%2. Gilt Fund- 1.0%
3. Balanced Fund- 1.3%4. Growth Fund- 1.5%
Rs. 42/- per month and an additional management charge of 5% on the net
initial units of the policy.
Rs. 60 p.m. reviewable from time to time in line with the WPI. After the PPT, this charge will reduce to 60% of the charge applicable
for premium paying policies. For paid up policies also this charge will reduce to 60% of that applicable for inforce policies during
the PPT.
Rs. 200/- per month in the first year. And Rs. 75/- per month thereafter.
Fixed Rs 200 p.m. in yr 1 & from yr 2 onwards Rs 75 p.m.
For annual Premiums Up to Rs. 20,000 - 7% & 4% (In the 1st & 2nd yr & onwards respectively)> 20,000- 3% & 2% (In the 1st & 2nd yr onwards respectively)
None but a 5% p.a. of initial units during the PPT or 20 yrs whichever is lower and nil
thereafter will be charged as initial management charges.
Charged for the first 10 years:Option A: Rs. 3.5/- per 1000 FAOption B: Rs. 5/- per 1000 FAOption C: Rs. 4/- per 1000 FA
Underwriting expense as per age in the 1st year (0.2 -0.6% of the FA)
An early redemption charge for all surrendered initial units. Surrender penalty
in case of top-up is 5%, 3% & 1% resp in yr1,2 & 3. No surrender penalty after three
years. Processing fee for withdrawals subject to a max of Rs. 200.
An early redemption charge for all surrendered initial units. Surrender penalty
in case of top-up is 5%, 3% & 1% resp in yr1,2 & 3. No surrender penalty after three
years. Processing fee for withdrawals subject to a max of Rs. 200.
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Switching between the Funds
One Two N/a Unlimited
2.0% N/a None (There is a bid/offer spread)
Two times a year Two times a year N/a N/a N/a N/a
FDNA FDNA N/a N/a N/a N/a
None (2 switches during a policy term with a gap of atleast 2 yrs between
switches)
None(can switch anytime within 3 months)
0.5% of the amount switched subject to a minimum of Rs. 100.
0.5% of the amount switched subject to a minimum of Rs. 100.
Greater of Rs 400 or 0.05 to 0.08% of the amount switched
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Tata AIG
Kotak Safe Investment Plan II Kotak Flexi Plan Kotak Easy Growth Plan Kotak Privileged Assurance Plan Invest Assure
Yes- 0.10% to 0.43% Yes- 0.1% to 0.58% Yes- 0.1% to 0.43% No None
Regular/ Limited Limited Single Limited 30 years 20 years 15 years
86% Details Not Available 93%
96.5% For the same term slabs as above- 95.625% Details Not Available 97% 75% 75%
96.5% Same as yr 2 Details Not Available 97% 99%
96.5% Same as yr 2 Details Not Available NA 99%
97.50% 97.50% Details Not Available 98% Same as the regular premium allocation
Administration ChargeRs. 30 per month None Rs. 38/- per month (Would increase every year)
None None None
1.42 1.42 1.42 1.17
2.38 2.38 2.38 2.15
5.53 5.53 5.53 5.53
30 years 20 years 15 years
100% 100% Lock in period of 3 yrs 100% (% of Policy Fund)
100% 50% No Surrender Charges
100% 50% 50% to 35% 40% to 28%
2.5% 2.5% 2% of the value of units 30% to 18% 24% to 12%
2.5% (No SC after10th yr.) 2.5% & 0% thereafer 1% of the value of units 16% to 10% 8% to 2%
For a 3 yr term- 72% 5-7 yrs- 58% 10-14- 44%
15 & more- 35%
50% for ages 0 to
45
For ages:0 to 45-50% 46 to 54-50% (+ 2.5% for each age) Age 55 - 75%
For ages:0 to 45 - 60% 46 to 49 - 60% (+2.5% each age)Age 50 - 72.50% 51 to 54 - 72.5% (+1.5% each age) 55 - 80% 56-59-80%(+0.5%for each age) Age 60- 82.5%For ages:0 to 50 - 80%, 51 to 54 - 80% (+ 1% each age) 55 - 85%, 56 to 59 - 85% (+ 0.5% each age)
1. Money Market- 0.6%2. Gilt Fund- 1.0%
3. Balanced Fund- 1.3%4. Growth Fund- 1.5%
1. Money market- 0.6% 2. Gilt Fund- 1% 3. Floating Rate Fund- 1.2% 4.Bond Fund- 1.2% 5. Balanced Fund- 1.3% 6. Growth Fund- 1.5%
1. Gilt Fund- 1% 2. Bond Fund- 1.2% 3. Balanced Fund- 1.3% 4. Growth Fund- 1.5%
5. Aggressive Growth Fund-1.6%
Advantage India Fund, Advantage Multiplier Fund and Advantage Plus Fund - 1.25% and
1.75% as capital guarantee charge
Equity 1.75% + 0.35*Income 1.25% + 0.25*Liquid 0.90% + 0.18*Growth 1.60% + 0.32*
Balanced 1.40% + 0.28** Management Fee specified in their illustration.
For Annual Premiums Up to Rs. 20,000 - 7% & 4% (In the 1st & 2nd yr & onwards respectively)> 20,000- 3% & 2% (In the 1st & 2nd yr onwards respectively)
For Annual Premiums Up to Rs. 20,000 - 7% & 4% (In the 1st & 2nd yr & onwards respectively)> 20,000- 3% & 2% (In the 1st & 2nd yr onwards respectively)
Underwriting expense as per age in the 1st year (0.2 -0.6% of the FA)
Age 0-35 0.2% of SA Age 36-45- 0.3% Age 46-59-
0.4% Age 60+ - 0.6%
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Switching between the Funds
Unlimited Unlimited Unlimited Two Four
None (There is a bid/offer spread) None (There is a bid/offer spread) None (There is a bid/offer spread) Rs. 500
N/a N/a N/a Allowed N/a
N/a N/a N/a Nil N/a
Rs.1000 + (0.5%, 0.4%, 0.3%, 0.25% and 0% of the FV transferred into Equity, Growth, Balanced, Income & Liquid respectively)
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
MAX NEW YORK LIFE ING VYSYA SBI LIFE AMP SANMAR
Life Maker Freedom Future Perfect Horizon Kanaka Shree
5% No No No No
Regular Regular Regular Regular Regular/Single
0.75% of annual premium 55% of annual premium 85%
0.8% of annual premium 92.5% of annual premium 90%
1% of annual premium 92.5% of annual premium 90%
N/A 96% of annual premium N/a 95%
101% 99% 99% 99% 98%
0.90 to 1.25%
Rs. 15 per month Rs. 25 per month Rs. 25 per month Rs. 70 per month Rs. 40 per month
None None
1.46
FDNA FDNA FDNA 2.57 FDNA
6.55
One yr's premium 5% 5% 100% 100%
One yr's premium 2.50% 2.50% 10% 50%
One half yr's premium 2.50% 2.50% 5% 20%
Nil 2.50% 2.50% 1% 0%
Nil 2.5% & 1% thereafter 2.5% & 1% thereafter 1% 0%
<=30000- 55% 30000-50000-58.5%
>50000- 60%
For a 5-9 yr term, 90% 10-14 yr- 85%
15+ yr- 80%
<=30000- 92.5% 30000-50000-92.5%
>50000- 93.5%
For a 5-9 yr term, 95% 10-14 yr- 95%
15+ yr- 95%
<=30000- 96% 30000-50000-97%
>50000-97%
For a 5-9 yr term, 95% 10-14 yr- 95%
15+ yr- 95%
For a 5-9 yr term, 95% 10-14 yr- 95%
15+ yr- 95%
Debt Plan- 0.75% Secure Plan- 1%
Balanced Plan- 1.25% Growth Plan- 1.25%
Debt Plan- 0.75% Secure Plan- 1% Balanced Plan- 1.25%
Growth Plan- 1.25%
Equity Fund- 1.5% Bond Fund-1%
Money Market Fund- 0.25%
Capital Secure- 1.5% Balanced- 1.5% Growth- 1.75%
Equity- 1.75%
0.15% to 0.25% depending on plan tenor.
Rs. 700 fixed & Rs. 50 per lakh of SA or part thereof
Rs. 700 fixed & Rs. 50 per lakh of SA or part thereof
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 21st January, 2005.
Two Two Two Not Allowed One
N/A 0.1% subject to a minimum of Rs. 100 0.1% subject to a minimum of Rs. 100 Not Applicable 1% subject to a min. of Rs 100
Yes N/a N/a N/a Yes
Nil N/a N/a N/a No
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 February 7, 2005
TERM MORTGAGE PRODUCTS IN THE MARKETNon-Participating Mortgage reducing term Assurance
COMPANY AMP SANMAR ALLIANZ BAJAJ HDFC LIC MET LIFE
Product Vanishree Vanishree Plus Loan Protector Loan Cover Term Assurance Mortgage Redemption Plan Met Mortgage Protector
Features
Entry Age (min/max) 21/55 (21/60 for SP) 21/55 (21/60 for SP) 20/55 18/55(60 yrs for single pay) 20/50 18/60
Max Age at maturity 65 65 65 65 65 65
Term (Min) 5 years(SP) 10 years (RP) 2 years(SP) 5 years (RP) 10 years FDNA 5 years
Term (Max) 15 years(SP) 30 years (RP) 30 years To age 60 FDNA 25 years
Premium Paying Term FDNA FDNA
Face Amount (Min/Max) FDNA FDNA 2,00,000/No limit FDNA 50,000/10,00,000 50,000/ No Limit
Mode of Payment
Benefits:Death Benefit
Refund of Premium No No No No
Additional Benefits None None Critical Illness (Accelerated) None None
Tax Benefits Section 88 Section 88 Section 88 Section 88 Section 88
Comments Can only be taken on male life.
Features not provided by the companies in India:
The option to cover the monthly mortgage repayments should the policy holder be out of work because of an accident or critical illness for more than a specified period and would be paid for a maximum of certain specific time period.
5 years(SP) 10 years (RP)15 years(SP) 30 years (RP) For 2/3rd of the term or
One time paymentFor 2/3rd of the term For 2/3rd of the term For 2/3rd of the term
(Regular pay) or One time payment
Yrly, hlf-yrly, Qrtrly, Mthly or Single pay
Yrly, hlf-yrly, Qrtrly, Mthly or Single pay
Yrly, hlf-yrly, Qrtrly, Mthly or Single pay
Yrly, hlf-yrly, Qrtrly or single pay
Yrly, hlf-yrly, Qrtrly, Mthly (Salary saving scheme)
Yrly, hlf-yrly, Qrtrly, Mthly or Single pay
Outstanding loan at the beginning of the
financial yr paid as per the prepared schedule.
Outstanding loan at the beginning of the financial yr
paid as per the prepared schedule
Outstanding loan at the beginning of the financial
yr paid as per the prepared schedule.
Outstanding loan at the beginning of the financial yr
paid as per the prepared schedule.
Outstanding loan at the beginning of the financial yr paid
as per the prepared schedule.
Outstanding loan at the beginning of the financial
yr paid as per the prepared schedule.
ROP at maturity (excluding rider & extra premiums)
In the event of prepayment of the loan
specified % of SP (guaranteed) is paid.1. Accident Benefit (TPD &
WOP)Section 88 & Section 10 (10
D)1. In case of TPD, 1/10th of the FA is paid annually for 10 years and premiums are waived s.t. max. of Rs. 40,000/-2. Riders are not available with SP plan
No refund even in case of a single pay in case of pre-
payment
Can be taken on joint life (First claim)
Option to increase the mortgage later during the term. The legal and general Assurance Society Limited incorporates such a feature where it gives an option to the policy holder to increase the cover
Prepared by Product DevelopmentBirla Sun Life Insurance
COM/08/05-06/0375 February 7, 2005
The option to cover the monthly mortgage repayments should the policy holder be out of work because of an accident or critical illness for more than a specified period and would be paid for a maximum of certain specific time period.
Prepared By Product DevelopmentBirla Sun Life Insurance
Women's productCOM/08/05-06/0375
February 7, 2005
WOMENS POLICIESCompany BSLI LICProduct Woman First Jeevan BhartiFEATURESMin Entry Age 20 years 18Max Entry age 45 years 50Age at maturity 55 70Min SA 1,00,000 50,000Max SA 2,50,000/- 2500000Terms 20 years 15 & 20
Premium paying Term20 years Same as policy term
Premium paying FrequenYearly
BENEFITS
On Death Face Amount + Policy Fund
On Survival
On Maturity
Special Benefits
Policy Loan Available Not Available (Housing Loan available)Surrender Value
Tax Benefits Under Sec10(10D) & Sec 88Comments
Yearly, half-yearly, Quarterly & Monthly
FA+ GA(@50/1000 for first 5 yrs) + Bonus
20% of the Face Amount every five years. Withdrawals allowed after three policy years.
20% of FA at the end of every five year, balance at maturity + GA + Bonus
Policy Fund. Min guarantee of 3% net of policy fees &
Charges
FA less the survival benefits paid + GA + Bonus
Critical Illness benefit including women specific
illnesses, Congenital Disability Benefit,
Pregnancy complications & Accidental death &
dismemberment Benefit
**Female Critical Illness, *Congenital Disability Benefit, Double Accident
Benefit
Policy fund less the surrender charges. No
surrender charge after 4 years
Policy can be surrendered for cash if it has been in force for atleast 3 years
Under Sec10(10D) & Sec High liquidity, Low
surrender charges, only plan to cover pregnancy
complications, Transparent and flexible
Free insurance cover for 3 yrs if 3 yrs prem paid, Large SA rebate, Option to encash survival benefits as and when needed, Prem can be paid in advance,
prem rebate of 4% per annum, can avail maturity benefits as annuity*The list of Congenital disabilities : Downs syndrome ; Spina Bifida ; Tetralogy of fallot ;
Oesophageal Atresia & Tracheo-oesaphageal Fistula ; Anal Atresia ; Imperforate anus ; Cleft Palate with or without Cleft Lip. **List of female critical illnesses covered Breast Cancer ; Ovarian/Fallopian Tube Cancer ; Cervical Cancer ; Uterine Cancer ; Vaginal / Vulval Cancer) for female CI
Abbreviations used in the sheets
SA Sum AssuredFA Face AmountPF Policy FundFV Fund ValueSV Surrender ValueFDNA Further Data Not AvailableN/a Not Applicable or Not allowedGA Guaranteed AdditionsSP Single PayRP Regular PayPFV Policy Fund ValueROP Return of PremiumWOP Waiver of PremiumCI Critical IllnessHCB Hospital Cash BenefitFIB Family Income Benefit
Kindly note that the sources of information for the data available in these sheets are:
Product Brochures, Websites, Call centres, and