Bajaj Life Smart Secure ROP

Fund Value Plus the total premiums paid~ towards Accidental Death Benefit, Accidental Total Permanent Disability and Terminal illness with Term Booster shall be payable to you on Maturity Date provided Life Assured is alive and all due premiums have been paid, and the policy is in-force.

In case of unfortunate death of the Life Assured during the Policy Term, provided all due premiums have been paid and policy is in force the Death Benefit payable will be a sum of the following:

    i. Higher of Prevailing Sum Assured* or Regular Premium Fund Value; plus

    ii. Higher of Top-up Premium fund value or Top-up premium Sum Assured plus

    iii. Sum Assured of Terminal illness with Term Booster, if any

Death Benefit shall not be less than Guaranteed Benefit i.e. 105% of the Total Premiums Paid including Top-Up premiums, if any, received up to the date of death.

NOTE:

   a. If the TI with TB Benefit gets paid on the diagnosis of Terminal Illness, then, the TI with TB cover will terminate immediately and automatically on payment of this benefit. The benefits of all the remaining covers in the policy (if any) will continue. No future premium payment will be required with respect to the Accidental Death Benefit and Accidental Total Permanent Disability Benefit.

   b. If the TI with TB Benefit has been paid on occurrence of death of the Life Assured, all other covers in the policy (if any) will terminate immediately and automatically on payment of the benefit.

*The Sum Assured chosen by the policyholder at inception of the Policy will be reduced to the extent of the partial withdrawals made from the Regular Premium Fund during the two (2) year’s period immediately preceding the date of death of the Life Assured. The partial withdrawal made from the Top-Up Premium Fund shall not be deducted for calculating this Sum Assured.

In addition to the benefit mentioned under Death Benefit section, In the event of death due to an accident of the Life Assured during the Policy Term, if all due premiums are paid up to date and the policy is in-force, higher of ADB Sum Assured or Guaranteed Benefit will be paid and cover with respect to ADB along with all covers in the policy (if any) will terminate immediately and automatic on the payment of the benefit.

In the event of Total Permanent Disability of the Life Assured due to an accident during the Policy Term, if all due premiums are paid up to date and the policy is in-force higher of ATPD Sum Assured or Guaranteed Benefit will be paid and the ATPD risk cover will terminate immediately and automatically on payment of this benefit, and the benefits of all other covers (if any) will continue with due premium payment with respect to the continuing covers.

Guaranteed Benefit, for each cover, is 105% of Total Premiums paid with respect to that cover.

Guaranteed^@ Wealth Booster²

Premium Allocation Charges deducted during the Policy Term are accumulated at a guaranteed rate of 7% per year (compounded annually) and will be added to your fund value at the end of the 15^th policy year.

Return of Mortality Charge (ROMC) – We will add the Mortality charge deducted during the Policy Term to your fund value as per the table given below –

^{^}The Return of Mortality Charge% in the table refer to the % of the total Mortality charge deducted till the end of the mentioned Policy Year Less Mortality Charges already returned in previous policy years (if any).

Loyalty Additions

To reward your long-term commitment with us, we’ll add a Loyalty Additions to your fund value starting from the end of the 10^th Policy Year and every 10^th Policy Years thereafter, continuing until your Policy Term ends. Loyalty Additions will be added to your fund value as per the table below:

The above benefits will not be applicable if the policy is surrendered, discontinued or paid – up.

If policy term is >= 25 years, the proportion of the average of the daily Regular Premium Fund Value during the previous 3 years (including the current year) will be added into the funds in last 5 policy years.