If you choose the Regular Pay option for premium payment, 0.30% of Fund Value shall be added to your fund by the creation of additional units, at the end of every policy year starting from the 11th policy year. The loyalty additions increase by 0.02% (absolute) each year thereafter. The additional units shall be created in different funds in proportion to the Fund Value at the time of credit. In case of revival of policies, the loyalty additions for previous years will be paid based on the Fund Value prevailing at the revival date.
*Fund Value = Summation of [Accumulated Units in Fund(s) x NAV of respective Fund(s) as on the Maturity Date]
Note: In case the Maturity Date is a non-working day for the Company or markets then the next working day’s NAV will be applicable.
NAV (Net Asset Value) of a ULIP is the total value of its holdings in the market on any given day (it is calculated daily). The value of NAV is dependent on the value of the fund. As the value of the fund changes according to market conditions, the NAV value changes. You can check your fund and NAV performance here.
**Single Pay, 5 Pay, and Regular Pay - are the three Premium Payment Term (the period for which you will invest in this policy) options available under this policy. More details are available under the Premium Payment Options.