Disclosure of Product

This is a life insurance product which has two distinct elements i.e., Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit linked fund(s).

Free Look Period

If you cancel your policy within a free look period of 14 days from the date of the documents receipt, you are entitled for a full refund of premium less any expenses incurred by EFU Life in connection with our medical or clinical examinations.

Opportunity for Growth

• EFU Guaranteed Growth Fund – Fund Categorization: Money Market Fund, Risk Profile: Low
• EFU Income Growth Fund – Fund Categorization: Income Fund, Risk Profile: Low
• EFU Managed Growth Fund – Fund Categorization: Balanced, Risk Profile: Medium
• EFU Aggressive Fund – Fund Categorization: Aggressive Fund, Risk Profile: High

Multiple Fund Option:

Under this option, you have the facility to select a mix of two unit-linked funds of the plan. Total premiums under your policy will be allowed to be distributed among the funds in multiples of 10%. This means that the fund split can be 90/10, 80/20, 70/30, 60/40, or 50/50. *EFU Guaranteed Growth Fund will be selected by default.

Benefits:

Continuation Benefit:

In the unfortunate event of the death of the assured parent during the savings term, a built-in Continuation Benefit ensures that the targeted fund is achieved at the maturity of the plan. EFU Life will continue to make the remaining unpaid basic premium towards the plan so that the investment is not discontinued. This ensures that the required funds are available for the child’s marriage even in the parent’s absence.

Enhancement Bonus:

In the 16 years, EFU Life will add an Enhancement Bonus to the plan equal to 15% of the average basic plan premium paid.

Child Support Bonus:

The plan provides valuable Child Support bonuses during the plan’s term to boost fund accumulation. The bonus is allocated, as a percentage of the average Basic Plan contribution paid, in the 11th, 16th, and 21st years of the policy, provided the plan is continued without any breaks. The extra unit allocation is as follows:

Maturity Benefit:

At maturity, the plan provides the accumulated fund value, which can be taken in a lump sum. If funds are not required immediately for marriage, the amount can be left to accumulate with EFU Life for a maximum period of one year. At the end of the one-year period, EFU Life will pay the accumulated value and a “Maturity Investment Bonus” of 20% of the annual average premium.

Optional Benefits:

To customize the plan according to the needs of individual customers, several additional benefit riders are available which can be attached to the plan:

• Accidental Death Benefit:
  In case of the accidental death of the life assured, this rider provides an additional lump sum benefit.
• Accidental Death and Disability Plus Benefit:
  This rider provides an additional lump sum benefit in case of an accidental death or disability (permanent & total) that makes you permanently disabled.
• Additional Term Assurance: This rider increases the level of life cover by providing an additional amount in the range of 50% to 200% of the Main Plan Sum Assured, in case of the death of the Life Assured.
• Income Benefit:
  In the unfortunate event of the death of the policyholder/life assured, this additional benefit will provide a quarterly income to your dependents to maintain a decent lifestyle.
• Waiver of Premium:
  In case the life assured is unable to follow any occupation due to sickness or accident, the premium would be paid by EFU Life.

*Any one accidental rider can be selected.

Unit Allocation

The proportion of premium for investment in units varies by policy year and is as follows.

Fund Acceleration Premium (FAP):

The plan gives the flexibility to top-up the savings by depositing surplus funds as a lump sum premium called “Fund Acceleration Premium” (FAP). Payments can be made at any time during the policy term to increase the cash value of the plan. Individuals can park their excess cash into the plan through FAP and enjoy the investment returns from the selected fund. The combination of regular savings and occasional lump sum premium provides the much-needed financial freedom to save according to one’s convenience. The minimum payment of FAP is Rs. 24,000.

100% of FAP payments are allocated to purchase units in the selected fund.

Access to Savings at All Times:

The plan provides complete access to the accumulated fund value at all times. After the premiums have been paid for two full years, the fund can be withdrawn for its full or partial value.

Complete Surrender:

The customer has the right to encash all the units in their fund. In such an event, the units will be encashed at the current bid price, and the plan will be cancelled.

Indexation:

Under this option, the regular premium will increase every year by 5% of the prior year’s premium until the age of 55 years, without any medical evidence.

Claim:

In case of an unfortunate event, you may file your claim intimation through any JS Bank Branch walk-in, visiting the EFU Head Office, or by visiting any of the EFU branches in the country. For a swift process, you may also call us at our call center (021-111-338-111) or simply visit our website, fill in the intimation form, and email it to us at [email protected]. You can also contact the JS Bank call center at (021 111 654 321) or email [email protected]. Thereafter, you will be contacted for the next steps.

What are the charges?
Charges:

Disclaimer:

• This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by JS Bank Limited or its affiliates and is not a JS Bank Limited product.
• JS Bank is just a promoter/distributor and corporate insurance agent of its valued customers.
• Growth in the value of your premium depends on the performance of the Fund.
• All investments made in the selected Fund are subject to market risks. The past performance of the fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of the future or likely performance of the Fund and neither EFU Life Assurance Ltd. nor JS Bank Limited will incur any liability for the same. The investment risk of the selected Fund shall be borne by the policyholder.
• A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for a detailed understanding of the various Terms and Conditions.
• Taxes will be applicable as per the taxation laws as stipulated by the relevant authorities.
• A description of how the contract works is given in the policy provisions and conditions. This product brochure only gives a general outline of the product features and benefits.