What does it do?
The policy increases sum assured by 10 percent after every five years of the policy. Nominee will receive increased sum assured in case of policyholder’s death.
Applicant has an option to take an additional Accidental Death Benefit where the insurer will pay an extra sum over and above the basic sum assured, if death takes place due to an accident within 120 days of its occurrence. Accidental Death benefit will be equal to the basic sum assured upto maximum of Rs 50 lakh. Accidental Death Benefit will not increase with time.
The policy does not pay any surrender or maturity value if the insured survives the term.
Pros
This policy can be bought online.
Women and non-smokers can avail discount on premium.
Optional Accidental Death Benefit widens the scope of coverage.
