Protection-Plans

Benefits at a glance:

  • The beneficiary gets a cash lump sum on death of the life assured.
  • A pure term plan, where you get sizeable life cover for a comparatively lower premium, provided you maintain your premium until the full term.
  • Your premium is fixed at the outset and guaranteed not to increase.
  • Under the Guaranteed Insurabilty Option you can increase guaranteed sum assured up to a limit, without undergoing further underwriting requirements or medical evidence.
  • The GPPP is normally free of all restrictions as to travel, residence and occupation.
  • Based on the current foreign exchange rules the plans can be transferred to India.
  • Can be assigned to a trust.

Tax implications:

  • Death Benefits payable are free of both income and capital gains tax.
  • Unless subject to a trust the proceeds form part of the deceased’s estate for Inheritance Tax purposes.