Guaranteed Maturity Insurance plan offers guarantee to double invested amout. Your returns can be even higher.
The plan offers you the following key benefits:
- Secure your investments with guarantee of two times the amount invested as maturity value.
- No premium allocation charge
- Option to buy multiple 'Guaranteed Maturity Certificates'.
- Flexibility to partially withdraw units after 5 years
Introduction and Overview in Video
GMIP doesn't just double your investment – it offers a wide range of additional benefits too!
At maturity, you get the higher of:
- The guaranteed maturity value of all the Guaranteed Maturity Certificates held, as on the date of maturity or
- The total fund value as of the date of maturity.
- In case of death of the life assured during the policy term: The death benefit payable would be the higher of:
- Prevailing Sum Assured reduced by the value of the units withdrawn through partial withdrawals from fund value in the last 24 months prior to the date of death or
- The fund value as on the date of receipt of intimation of death at the Company’s office.
- The policy will terminate on the death of the life assured
You have the option to surrender the whole policy anytime from the 6th (sixth) policy year. The surrender value payable will be the fund value under the policy at the prevailing unit price as on the date of surrender. No guarantee is applicable on surrender of the policy.
Compare with Fixed Deposit
Ravi just took a GMIP to grow his savings. Find out how much he’ll get back when his plan matures.
FAQs – Guaranteed Maturity Insurance Plan