0 Frequently Asked Questions - Cash Gain

1: What type of product is Cash Gain?

Cash Gain is a regular premium payment participating money back plan with minimum guaranteed benefits at survival on certain years during the policy term (including maturity) or on death whichever is earlier.

2: What is the minimum and maximum entry age for this plan?

Minimum age at entry is 15 years and maximum age at entry is 55 years .

3: What is the policy term available?

The policy term available is 15 yrs

4: What is the premium paying term available?

Premium Paying Term shall be policy term i.e 15 years.

5: What is the minimum and maximum premium for this plan?

Minimum Regular Premium is Rs. 6650 per Yearly Installment.

Maximum Premium: No Limit

6: What is the Sum Assured under this plan?

Minimum Sum Assured is Rs. 50,000 and Maximum Sum Assured is unlimited.

7. What are Bonus, Interim Bonus and Terminal Bonus?

ANNUAL BONUS:

At the end of each financial year the Company will declare a rate of reversionary bonus expressed as a percentage. This percentage will be applied to the sum assured plus existing declared reversionary bonuses to determine the amount of reversionary bonus to be added to the policy at the year-end. That is, compound reversionary bonus will be allowed.

INTERIM BONUS:

In the event of a claim part way through a financial year or before the valuation result is declared, an interim bonus will be payable as per the actuary's recommendation in the earlier valuation report (which is likely to be proportional to the premium paid during this period).

TERMINAL BONUS:

Furthermore, on death after 15 policy years or on maturity, the company may pay terminal bonus for in force policies as per recommendation of the actuary in the valuation report.

8: What is the Death Benefit under the plan?

In case of death of the Life Assured during the policy term, provided the policy is in-Force for full Sum Assured, the company shall pay the Sum Assured plus the applicable bonus, if any, to the nominee. The Sum Assured shall depend upon the plan variant chosen by the Policyholder and is a multiple of the Base Sum Assured, as per the table below:

The death payouts would be as follows for the various Pakages
Package	Death Benefit
CashGain Economy	Sum Assured + declared compound reversionary bonuses + interim bonus + a possible terminal bonus*
CashGain Gold	Double Sum Assured + declared compound reversionary bonuses + interim bonus + a possible terminal bonus*
CashGain Diamond	Triple Sum Assured + declared compound reversionary bonuses + interim bonus + a possible terminal bonus*
CashGain Platinum	Quadruple Sum Assured + declared compound reversionary bonuses + interim bonus + a possible terminal bonus*
*In case of death after 15 full policy years, the company may pay terminal bonus for in-force policies.
The policy terminates on death of the life assured

No death benefit shall be payable in case the policy is lapsed.

9: What is the Survival & maturity Benefit under the plan?

If all premiums till the due date of the cash-back payment have been paid, the Policyholder will receive specified percentage of Sum assured as cash-back at the end of each of the following policy years.

Term	No of years at the end of which Cash Benefit Becomes Due
	1st Cash Benefit	2nd Cash Benefit	3rd Cash Benefit	4th Cash Benefit	Maturity Benefit
15 yrs	3yrs	6yrs	9yrs	12yrs	15yrs
% of Sum Assured Payable as Benefits	10%	15%	25%	25%	50% + Bonus*

If the policy is lapsed or paid-up, the cash back shall not be payable.

11. Whether this death cover can be increased?

The policyholder has the option to include additional death coverage of 50% of the basic sum assured at each of the following three occasions:

��marriage,

��birth of the first child and

��birth of the second child.

The additional death coverage is not subject to underwriting. The premium for the additional death coverage will be based on rates available at that time. The additional death coverage does not increase the basic sum assured or the double/triple/quadruple cover inbuilt into CashGain Gold/Diamond/Platinum.

12: Can this policy be surrendered?

Yes, The Policyholder has the option to surrender the policy anytime after 3 years, provided at least 3 years' premiums have been paid .

13: Can the Survival Benefit be adjusted against the premium due?

Yes. The Policyholder may utilize the cash back to pay premium(s) that is/are due immediately and/or in the future. Any residual amount after adjustment to premium(s) will be paid out to him.

14: Is there an option of additional riders?

Yes. The Policyholder has the option to choose the following riders:

a) Comprehensive Accidental Protection benefit

b) Family Income Benefit

d) Critical Illness benefit

e) Waiver of Premium

15: What happens if the Policyholder is unable to pay regular premiums during the first 3 policy years?

If at least 3 full years' premiums are not paid, then the policy will immediately lapse at the expiry of the grace period and no benefits under the plan will be payable. The Policyholder can revive the policy during the revival period of 2 years from the due date of first unpaid premium, subject to the revival conditions

16: When and how can the policyholder revive the policy?

A Policy, which has lapsed for non-payment of premium, may be revived subject to the following conditions;

a) The application for revival is made within 2 years from the due date of the first unpaid premium but before the maturity date;

b) Payment of all due premiums along with applicable interest at such rate as the company may decide from time to time.

c) Satisfactory evidence of good health, at the Policyholder's expense, is submitted;

d) The revival of the policy may be on terms different from those applicable to the policy before it got lapsed depending upon the prevailing underwriting norms of the Company.

e) The Company may at its sole and absolute discretion refuse to revive the Policy.

17: When will the policy terminate?

This Policy shall automatically terminate on the earlier occurrence of either of the following events:

a) On the Full Surrender of the policy.

b) On expiry of the revival period, if three full years' premiums have not been paid.

c) On foreclosure, if the paid-up Base Sum Assured plus accrued bonus is less Rs. 1,000.

d) On the death of the Life Assured.

e) On the Maturity Date.