By pursuing your navigation on our website, you allow us to place cookies on your device. These cookies are set in order to secure your browsing, improve your user experience and enable us to compile statistics For further information, please view our "privacy policy"
i. This is a facility through which you can let your fund value remain invested in your policy account and take regular payouts at specified intervals. This helps your fund to be invested as per the fund allocation as on date of maturity.
ii. You are required to choose the number of years, over which you want to receive the payouts (Settlement Period- 2, 3, 4 or 5 years) and the frequency of payout which can be yearly, halfyearly, quarterly or monthly. The term of the settlement period and frequency once chosen, cannot be changed during the settlement period.
iii. The first payout will be payable on the Date of Maturity and further payouts will be made on the first day of completion of each year, half-year, quarter or month from the Date of Maturity depending on the chosen payout frequency.
iv. The available number of units under the Policy shall be divided by the residual number of installments to arrive at a number of units for each installment which will then be multiplied by the net asset value on the date of payment. Each further installment will be as per the Fund Value available on date of payout divided by the number of outstanding installments.
v. The last installment would be the remaining fund value.
vi. During the Settlement Period