| 1. Can I withdraw my money before the policy tenure expires? |
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| 2. Can I switch between funds? How many times can I switch? What are the charges for it? |
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| 3. What are the various charges under iGain III? |
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| 1. Can I withdraw my money before the policy tenure expires? |
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You have the option to make unlimited number of partial withdrawals, anytime after the fifth policy year subject to:
- The minimum amount of partial withdrawal is Rs. 5,000 and your regular premium fund value does not fall below three (3) times of the annual premium (NAV) across all funds after a partial withdrawal.
- All partial withdrawals will be first made from eligible top up premium fund value, if any on First in First out (FIFO) basis. Once the eligible top up premium fund value is exhausted, further partial withdrawals will be made from the regular premium fund value.
- In Investor Selectable Portfolio Strategy, you can choose the fund(s) you want to make partial withdrawals from.
- In case of Wheel of Life Portfolio Strategy the withdrawal of units from your funds will be done in the same proportion as the value of the Units held in that fund as on date of withdrawal. You will not have any choice to opt the fund from which the partial withdrawal of units is to be done.
- In case of minor life, partial withdrawal is allowed after attaining age 18 years
- Miscellaneous charge, as mentioned in the Charges table below will be applicable for the option.
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| 2. Can I switch between funds? How many times can I switch? What are the charges for it? |
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If you have chosen Investor selectable portfolio strategy:
- You have the flexibility to switch units between your investment funds according to your risk appetite and investment decisions. You can make unlimited free switches.
- The minimum switching amount is Rs. 5000 or the value of units in the fund to be switched from, whichever is lower
- You can switch in/out of this Portfolio Strategy at any Policy Anniversary by giving a 30-day advance notice to us.
If you have chosen Wheel of Life portfolio strategy:
- You will not have the option to switch units between funds or change the proportion of premium to various funds
- You can switch in/out of this Portfolio Strategy at any Policy Anniversary by giving a 30-day advance notice to us.
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| 3. What are the various charges under iGain III |
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Various charges under iGain III are: |
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| Charges table |
Details |
| Premium Allocation Charge |
| Regular Premium due in Policy Year |
1 to 5 |
6 onwards |
| Premium Allocation Charge |
2.0% |
0% |
All top up premiums will have a allocation rate of 99% |
| Policy Administration Charge (PAC) |
Rs. 32 per month inflating at 5% per annum at each policy anniversary The charge will be deducted at each monthly anniversary by cancellation of units. |
| Fund Management Charge (FMC) |
| Fund |
Fund Management Charge per
annum (as %age of fund value) |
| Equity Growth Fund II |
1.35% |
| Accelerator Mid Cap Fund II |
1.35% |
| Pure Stock Fund |
1.35% |
| Asset Allocation Fund |
1.25% |
| Bluechip Equity Fund |
1.25% |
| Liquid Fund |
0.95% |
| Bond Fund |
0.95% |
This charge would be adjusted in the unit price. |
| Surrender Charge (after 5th year) |
NIL |
| Switching Charge |
NIL |
| Miscellaneous Charge |
The miscellaneous charge of Rs.100/- per transaction in respect of change in premium paying term, change in premium payment frequency, decrease in sum assured, partial withdrawal or issuance of copy of policy document will be charged. |
| Mortality Charge |
Mortality Charge will be deducted at each monthly anniversary by cancellation of units. Sample mortality charges per annum per thousand of sum at risk for a healthy male life is shown below:
| Age (yrs) |
20 |
30 |
40 |
50 |
| Rs. |
1.72 |
1.91 |
3.14 |
7.37 |
Sum at risk is equal to Regular Premium Sum assured minus Regular Premium Fund Value Plus Top Up Premium Sum assured minus Top Up Premium Fund Value
An additional risk charge of Re. 1.00 per thousand of sum assured will be charged towards the inbuilt accidental death cover. |
| Rider Charge |
Please refer to Additional Rider Benefit brochures for rider charge details. |
| Service Tax |
Service tax will be applicable on mortality charge, rider premium charge (if any) and fund management charge. |
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