FAQ

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Smart Legacy 5/5

If the policyholder purchases Smart Saving 5/2, the premium has to be paid for 2 years and will get the Tax Saving benefit for 2 years meanwhile if the policyholder purchases Smart Legacy 5/5, the premium has to be paid for 5 years and will get the Tax Saving benefit for 5 years.
If the insured does not confront any claimable situation, the insured is entitled to survival benefit (annual coupon) for Smart Saving 5/2. If the insured chooses Smart Legacy 5/5, the survival benefit (annual coupon) is not granted but instead 555% of Initial Sum Assured is given as Maturity Benefit in a lump sum.

This product is suitable especially for the middle-aged customers who wants to get life insurance coverage while saving money since the premium rate is the same fixed rate regardless of age range and occupation class.

The insured must notify the company within 60 days from the date of those events along with the complete documents mentioned in the policy provision. After the insured has informed the company about the claim requisition, the company will provide the benefit within (15) working days to the insured person or the beneficiary after conducting investigations and related working processes. The policy will be terminated, and there will be no more insurance coverage from the day after the benefit is taken.

The initial sum assured cannot be altered in any way, but the premium payment mode and the beneficiary can be changed under the terms and conditions of the policy.

Personal Accident Rider can be purchased with Smart Legacy 5/5 so that not only an additional death benefits can be claimed but also in the case that the insured has encountered whether minor or major injuries, the insured can claim certain percentage of Rider’s Sum Assured.