Quality Smart Plan is an Endowment policy which provides the following benefits:
i. Death benefit payable in the event of death of the insured within the term of the policy.
ii. Survival benefit payable in the event insured survives till the end of the policy term.
The policy is designed such that the survival benefits automatically increase annually to protect the purchasing power of benefits using the Automatic Inflation Adjustor whiles the death benefits remain level.
The plan also allows the policyholder access to a short term loan. If the policy lapses after being in force for a specific number of years, a surrender value will be paid to the policyholder.
A supplementary benefit is available through the total and permanent disability rider.
Min /Max
Sum Assured
Min /Max
Age Entry
Min/Max
Term
Policy loans
Policy loans are available under this plan after the second policy anniversary. Maximum loan amount may not exceed 50% of the cash value paid till date.
Only one (1) loan transaction will be allowed in every two policy years. Additionally only one (1) outstanding loan will be permitted at any time. This means that a new loan may not be processed until the outstanding loan has been paid in full.
Rider
Total and Permanent Disability (optional)