Partial Withdrawals: You may partially withdraw the units at any time after the 5 years’ lock-in period (i.e. a period of 5 years from the date of commencement of policy) subject to the following. It is allowed only against the following stipulated reasons:

-Higher education of children.
-Marriage of children
-For the purchase or construction of residential house.
-For treatment of critical illnesses of self or spouse.
-Any other reason as per the IRDAI Circular/Guidelines/Regulations issued from time to time.

It is allowed only up to 3 times during the entire term of the policy term.

Options to extend date of Vesting: An Option shall also be available to you to extend the accumulation period or deferment period (i.e. policy term) within the same policy with the same terms and conditions as the original policy subject to the following conditions:

At the time of exercising this option, your age shall be less than 60 years.
Extension of accumulation or deferment period shall be upto the maximum Vesting age under the plan.
In any case the sum of original policy term and extended policy term shall not be more than 42 years.
The request for extending accumulation or deferment period is submitted before the original Vesting date.

You can choose to extend the date of Vesting either by payment of further premiums or without payment of further premiums. Once you decide to exercise this Option and intimate the same to the Corporation, the policy shall continue by deducting the applicable charges as in case of an in-force policy. However, the Guaranteed Additions shall be attached as per the following provisions:

♦ Date of Vesting extended under Single premium policies and regular premium policies (with payment of further premiums): In this case the applicable rate of Guaranteed Additions shall remain the same as applicable for in-force policy corresponding to the modified policy term.

♦ Date of Vesting extended without payment of further premiums under regular premium payment policies: In this case the applicable rate of Guaranteed Additions shall be reduced on pro-rata basis.

If the policyholder opts to extend the Date of Vesting, he/she will have to inform his/her intention to the Corporation at least three month prior to the vesting date.

Switching

You have an Option to switch between any of the four funds during the policy term. On switching, the entire amount is switched to the new Fund opted for. During a given policy year, 4 switches will be allowed free of charge. Subsequent switches shall be subject to a switching charge of Rs.100 per switch as specified.

Policy Loan, No loan facility shall be available under this plan

Surrender
If the policy is Surrendered during the 5 years’ Lock-in-Period: If a Policyholder applies for surrender of the policy during the 5 years’ Lock-in-Period, then the Unit Fund Value after deducting the applicable Discontinuance Charges shall be transferred to the Pension Discontinued Fund.

If the policy is Surrendered after 5 years’ lock-in-period: If a Policyholder applies for surrender of the policy after 5 years’ Lock-in-period, then the Unit Fund Value as on the date of intimation of surrender shall be payable on surrender to the Life Assured. There will be no Discontinuance Charge under the policy.