0 Frequently Asked Questions - Super Cash gain

1: What type of product is Super Cash Gain?

Super CashGain is a Non-Linked, Participating, Limited Premium Payment

Endowment Plan.

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

Minimum age at entry is 0 years and maximum age at entry is 65 years for the base plan.

3: What is the policy term available?

Three policy terms available is 20 yrs.

4:What is the premium paying term available?

Premium Paying Term shall be policy term minus 5 years. i.e 15yrs

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

Minimum Regular Premium is Rs.10900 per Yearly Installment, 5900 HLY, 13400 yearly, and 25900 yearly and above

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 Sum Assured and Base Sum Assured?

Base Sum Assured is the benefit amount the policyholder needs to choose at inception of the policy for receiving the survival benefits, the maturity benefit and, if applicable, the surrender benefit under the plan.

Sum Assured is the minimum benefit amount payable upon death of the Life Assured and is a multiple of the Base Sum Assured under the plan. The multiple will depend on the plan variant (Silver, Gold, Diamond or Platinum) chosen by the policyholder at the inception of the policy.

8: What are the various plan variants and the respective Sum Assured allowed under the variants?

The plan has the following four (4) plan variants:

a) Silver - with Sum Assured equal to Base Sum Assured

b) Gold - with Sum assured equal to twice the Base Sum Assured

c) Diamond - with Sum Assured equal to thrice the Base Sum Assured

d) Platinum - with Sum assured equal to quadruple Base Sum Assured

The Surrender Value, Survival Benefit and the Maturity Benefit will be determined on the basis of the Base Sum Assured under the policy.

9: What are Compound Reversionary Bonus, Interim Bonus and Terminal Bonus?

The Company will carry out annual valuation (as per the current IRDA regulation) at the end of each financial year and may declare following bonuses for the policies where all the due premiums have been paid.

a. Compound Reversionary Bonus:

This is a regular bonus expressed as a percentage

And is applied to the Base Sum Assured and the compound reversionary bonus amount already attached to your policy. The compound reversionary bonus, once declared, shall vest in the policy immediately, provided all due premiums have been paid and shall be payable as part of the death benefit or the maturity benefit.

b. Interim Bonus:

The Company may pay interim bonus as well for the policies, where any premium has been paid after the last valuation date and the death or maturity benefit is payable before the next valuation date.

c. Terminal Bonus:

If the policy has completed 10 years or more and all due premiums have been paid, the company may pay a terminal bonus as well on the termination of the policy. This will be payable only as part of the death benefit or the maturity benefit.

10: What are reduced Base Sum Assured and Reduced Sum Assured?

Reduced Base Sum Assured:

This is applicable when the Policyholder discontinues the premium payment under the policy after paying at least 3 years' premiums in full. This amount is arrived at, as on due date of first unpaid premium, by multiplying the prevailing Base Sum Assured with a paid up value factor (as per Annexure A). The paid up value factor shall depend upon the number of years the premiums have been paid in full and the premium payment term.

Reduced Sum Assured:

This is also applicable only if the Policyholder discontinue the

Premium payment under the policy after paying at least three years' premiums in full. This is the minimum benefit amount payable upon death of the Life Assured under a paid up policy. (As per Annexure A). The paid up value factor shall depend upon the number of years the premiums have been paid in full and the total premium payment term.

11: 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:

Plan Variants Sum Assured equal to	Silver	Gold	Diamond	Platinum
	Base Sum Assured	Double the Base Sum Assured	Triple the Base Sum Assured	Quadruple the Base Sum Assured.

Any premium collected in advance but not due (at the time of death) will be refunded along with the death benefit. The amount refunded will be advance premiums which are paid-but-not- yet-due, as paid, shall be refunded. If the policy is in auto cover, the above death benefit shall

Be reduced by all the due-but-unpaid premiums along with applicable interest.

 In case of death of the Life Assured while the policy is paid up, the company will pay the Reduced Sum Assured plus the vested bonus to the nominee.

 In case of death of the Life Assured after the policy has been converted to a Single Premium Term Cover with Return Of Premium (SPTC with ROP), the company shall pay the revised Sum Assured, i.e., the Sum Assured ascertained at the time of such conversion of the policy.

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

12: What is the Survival Benefit under the plan?

If all premiums till the due date of the cash-back payment have been paid, the

Policyholder will receive 20% of the Base Sum Assured as cash-back at the end of each of the following policy years.

Policy Term	1st Cash back	2nd Cash back	3rd Cash back	Maturity benefit
20yrs	5th yr	10th yr	15th yr	20th yr

If the policy is lapsed or paid-up, the cash back shall not be payable. If policy is in auto-cover, the cash-back will be 20% of the Base Sum Assured less all the premiums due-but-unpaid along with applicable interest (to the extent of the cash back amount).

13: What is the Maturity Benefit under the plan?

Provided all due premiums have been paid, 40% of the Base Sum Assured plus applicable bonus shall be paid to the Policyholder on maturity date.

However, if the policy is paid up, then, the maturity benefit payable shall be the Reduced Base Sum Assured plus the vested bonus. In case the policy is converted to a SPTC with ROP, the maturity benefit shall be the single premium, as determined as on the date of such conversion

14: 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 & provided the policy has not been converted to a SPTC(Single Premium Term Cover) with ROP(Return of Premium).

15: 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.

16: Is there an option of additional riders?

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

a) Comprehensive Accidental Protection benefit

b) Supplementary Death Benefit

c) Family Income Benefit

d) Critical Illness benefit

e) Hospital cash benefit

17: 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

18: What happens if the Policyholder is unable to pay regular premiums after first 3 policy years' premium has been paid?

If at least 3 full years' premiums are paid in full and subsequent premiums are not paid, then the policy will be subjected to the following:

a) AUTO COVER: The policy shall remain in-force for the full Sum Assured, except for the additional rider benefit(s), if any, for 2 successive years (auto cover period) from the due date of first unpaid premium

b) PAID-UP VALUE: If the Policyholder fails to restart premiums payment during the auto cover period, the policy shall be converted to a paid up policy on completion of auto-cover period. The Base Sum Assured and the Sum Assured will be reduced to the Reduced Base Sum Assured and the Reduced Sum Assured respectively, by multiplying the prevailing Base Sum Assured and the Sum Assured by a paid up value factor.

19: What happens if the Policyholder is unable to pay regular premiums after first 5 policy years' premium has been paid?

If at least 5 years' premiums are paid & subsequent premiums are not paid, after the expiry of the auto-cover period, the Policyholder can select from the following options:

(I) continue the policy as a paid-up policy

Or

(ii) Opt to convert the policy into a SPTC with ROP provided the outstanding term of the policy is at least 5 years by giving a written notice to the company at least 30 days before the end of the auto-cover period. If the Policyholder fails to choose and communicate to the Company about the option chosen from options (i) and (ii) above, the default option will be option (i), wherein the policy shall continue as a paid-up policy.

20: 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.

21: 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.