Product Information
Saving And Investment Plans
Monthly Insurance Plan(MIP)
Synopsis:
A plan that helps you save monthly for a limited period to create big corpus for your future needs. Besides this, you get Guaranteed Yearly Additions and Bonuses to further enhance your savings along with Life cover and Tax Benefits.
Features:
- Savings 1) Build up a corpus for your future goals with monthly savings
- Protection for your family 1) Get life cover of at least 10 times the annualised premium for the entire policy term 2) Enhance your life cover with optional Rider
- Liquidity Avail loan facility to meet unforeseen needs
- Tax benefits Get tax benefits on investment and on returns, as per the applicable income tax laws
2) Get Guaranteed Yearly Additions accrued at the beginning of each policy year
3) Get Compounded Revisionary Bonus and Terminal Bonus to further enhance your savings
4) Receive a lump sum benefit at maturity of the Policy
Eligibility:
|
Plan Parameters |
Minimum |
Maximum |
|
|
Age at Entry (years) |
0 years (30 days) |
50 |
|
|
Age at Maturity (years) |
18 |
70 |
|
|
Policy Term (years) |
15 and 20 |
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|
Premium Payment Term (years) |
7 for Policy term 15 and 10 for policy term 20 |
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