Flexi Savings Plan Service

Benefits of Flexi-Savings Plan

3 Plan Options to Receive Guaranteed¹ Income

As flexible as your needs! Choose flexibility with 3 plan options – Flexi-Income, Flexi-Income PRO & Large Sum Option. Flexi-Income Option & Flexi-Income PRO offers regular income every year, starting from the chosen Income Start Year (ISY) till the end of policy term. The regular income under Flexi-Income & Flexi-Income PRO comprises of Guaranteed Income, if applicable, Cash Bonus⁵, if any and Reversionary Bonus⁷ Payout, if any along with maturity benefit. In Flexi-Income PRO you get guaranteed Lumpsum at periodic Intervals. Large Sum Option offers maturity benefit at the end of policy term. 

Series of Guaranteed¹ Lumpsum

Sign up for your trail of happiness! The Flexi-Income PRO option offers survival benefit that is equal to regular income + guaranteed¹ lumpsum. This lumpsum is payable in the interval of 5 years as cash payouts. The regular income is paid out every year from Income Start Year (ISY) till maturity. This regular income comprises of Guaranteed¹ Income, and Cash Bonus⁵ and Reversionary Bonus⁷, if applicable.

Early Income Pay-out

Don’t wait, start early! This plan offers Income Start Year (ISY) as early as 2^nd policy year under Flexi-Income Option and Flexi-Income PRO Option. With these options, you can choose to start receiving your income on the 2^nd or 5^th or (PPT+1)^th policy year.  

Accrual of Survival Benefits

Accumulate your survival benefit as per your preference! At any point during the policy term, you have the option to accumulate the survival benefits instead of cash payouts. You can choose to withdraw the entire accrued survival benefit at any point during the policy term. These benefits are also payable at the time of termination of the policy in the form of death, maturity, or surrender.

Protect Your Loved Ones Right!

Roti, kapda, makaan aur life cover! This plan offers Life Cover Continuation Benefit to extend life cover even beyond your policy term ends. Meaning, increased family’s financial security! If Life Cover Continuation Benefit is opted, the maturity benefit payable would be equal to Sum Assured on Maturity^## (SAM) plus Loyalty Sum Assured on Maturity (applicable only for Plan Option ‘Large Sum Option’) plus accrued Reversionary Bonus, if any plus Terminal Bonus, if any less Life Cover Continuation Benefit Cost provided the policy is in-force. All other plan benefits remain unchanged.

Tax Benefits³

Everything’s better with tax³ exemptions! Premiums paid are eligible for tax benefit under section 80C and the maturity benefit is eligible for tax benefit under section 10(10D).