INL Nishchit Bhavishya

The IndusInd Nippon Life Nishchit Bhavishya Plan is a Non-Linked Non-Participating Individual Saving Life Insurance Plan that provides guaranteed benefits that ensure your financial needs and goals are taken care off while providing you and your family with long term protection from life's uncertainties.

The plan offers a choice of two plan variants at inception of the policy.

a. Variant 1:
This variant provides income benefit post premium payment term along with a lump sum maturity benefit.

b. Variant 2:
This variant provides two money back payouts at 4th and 8th year before the income benefit starts from the 12th year and a lumpsum benefit is also paid at maturity.

During Premium Payment Term:
In case of unfortunate death of the Life Assured provided the Policy is In-force i.e., all due premiums have been paid as on the date of death, the Claimant(s) shall receive higher of:

• Sum Assured on Death; and
• 132% of the Total Premiums Paid as on date of death of the Life Assured

Where, Sum Assured on Death is higher of:

• 11 times the Annualized Premium, and
• 2 times of Base Sum Assured

Post Premium Payment Term:
In case of unfortunate death of the Life Assured provided the Policy is In-force i.e., all due premiums have been paid as on the date of death, the Claimant(s) shall receive higher of:

• Sum Assured on Death; and
• 132% of the Total Premiums Paid as on date of death of the Life Assured; and
• Base Sum Assured plus FixedLoyalty Addition, if any
  Where, Sum Assured on Death is higher of:
• 11 times the Annualized Premium, and
• Base Sum Assured

Fixed Loyalty Addition as a percentage of Base Sum Assured is as follows:
 

The Policy will terminate on payment of the Death Benefit to the Claimant(s).

• Variant 1:
  Income Benefit
  On survival of the Life Assured, provided all due premiums are paid in full, Income Benefit shall be payable at the end of each policy year starting after Premium Payment Term till one year prior to end of the Policy Term. The Income Benefit shall be a percentage of Annualized Premium, increasing at a simple rate of 5% per annum.
  • Variant 2:
    Money Back Benefit
    On survival of the Life Assured, provided all due premiums are paid in full, Money Back benefit, as a percentage of Annualized Premium,shall be payable at the end of 4th and 8th Policy Year.

    Policy Year	Money Back Benefit (% of Annualized Premium)
    4	75%
    8	125%

Income Benefit:
On survival of the Life Assured, provided all due premiums are paid in full, Income Benefit shall be payable at the end of each policy year starting from end of 12th policy year till one year prior to end of the Policy Term. The Income Benefit shall be a percentage of Annualized Premium, increasing at a simple rate of 5% per annum.

On survival of the life assured till the end of the policy term, provided all due premiums are paid in full, Sum Assured on Maturity plus Fixed Loyalty Addition, if any, shall be payable.
Loyalty Addition, if any, shall be payable.
Where, Sum Assured on Maturity is equal to Base Sum Assured.
Fixed Loyalty Addition as a percentage of Base Sum Assured is as follows: