iProtect Super - FAQ

How does this plan work?

• Death Benefit + Terminal Illness
• It's a pure investment plan.
• It provides only maturity benefits.
• It covers only accidental death.

On survival of the Life Assured till the Date of Maturity what is the maturity benefit offered to the customer under this policy?

• No Maturity is payable in this product
• The Sum Assured is paid.
• Total premiums paid are refunded.
• A percentage of the Sum Assured is paid.

What is the grace period for premium payment available under this plan?

• The Grace Period for payment of premium is 15 days for monthly mode of premium payment and 30 days for other frequencies of premium payment,1 commencing from the premium due date.
• 30 days for all payment modes.
• 15 days for all payment modes.
• 60 days for all payment modes.

What happens if the life assured dies during the grace period?

• In case of death of the Life Assured during the Grace Period, applicable Death Benefit will be payable.
• The policy is cancelled.
• Only the premiums paid are refunded.
• A reduced death benefit is paid.

What is the freelook period associated with the plan?

• 30 days from the date of receipt of the Policy Document.
• 15 days from policy issuance.
• 60 days from premium payment.
• 90 days from policy receipt.

During the freelook period, what is the amount payable to the customer?

• Refund the premium paid after deduction of Stamp duty, proportionate risk premium for the period of cover and the expenses borne by2 the company on medical tests, if any.
• The full premium paid.
• Premium paid minus a surrender charge.
• Only the stamp duty is refunded.

Can one avail a loan against this plan?

• No, loan is not available in the product.
• Yes, up to 50% of the premiums paid.
• Yes, up to the surrender value.
• Yes, with a co-applicant.

Can one avail any kind of tax benefits under this policy?

• Yes, tax benefits may be applicable on premiums paid and benefits received as per the prevailing tax laws.
• No, insurance plans are not tax-deductible.
• Only on the benefits received.
• Only on the premiums paid, not benefits.

Can we enhance the protection under this plan by attaching a rider along with this plan?

• Yes,2 types of benefits under this plan - a. Accidental Death Benefit b. Accidental Total and Permanent Disability Benefit
• No, riders are not allowed.
• Only health riders can be attached.
• Only critical illness riders can be attached.

Can the tax benefits be availed under the rider too?

• Yes, tax benefits can be availed on the premiums paid and benefits received under the rider too.
• No, riders do not offer tax benefits.
• Only on the rider premiums paid.
• Only on the rider benefits received.