Shubh Flexi Income Plan

What this product is

A flexible savings-cum-protection plan where you pick from three payout styles - a lump sum at maturity, income during your premium-paying years, or income deferred to later in life - and can combine them.

You might need this if…

• You want one policy that can double as a house-downpayment fund, an income top-up, or a later-life fund, depending on which option(s) you pick
• You like choosing when cash starts flowing back to you (immediately vs. after premiums stop vs. only at maturity)
• You want life cover with a bonus-linked (non-guaranteed) growth component rather than a purely fixed-return plan
• You want the option to keep the plan running even if the person paying premiums becomes unable to, via a waiver-style continuance feature

How it actually works

• Pick one of three structures at purchase: Endowment (lump sum at maturity), Early Income (cash bonuses start during the premium-paying term), or Deferred Income (cash bonuses start after premiums are done)
• Premium Payment Term is 5-12 years for limited pay, or matches the full policy term for regular/single pay; Policy Term runs 10-50 years
• Death benefit is Sum Assured on Death plus any accrued bonuses, with a floor of at least 105% of premiums paid
• Maturity benefit is a Sum Assured on Maturity (a multiple of total premiums, varying by option/term) plus accrued bonuses
• An optional Cover Continuance feature can keep the policy and death benefit going if the paying proposer becomes unable to continue
• Cash bonuses, where applicable, are not guaranteed - they depend on the insurer's actual investment performance each year

Worth knowing before you decide

• Bonuses/cash payouts under the Early or Deferred Income options are non-guaranteed; the brochure explicitly notes past bonus rates don't predict future ones
• Surrendering early typically returns less than total premiums paid
• Entry is available from 0 days old up to 65 years, but maturity age caps (up to 85, or 100 under a special option) shape how long a policy can run
• Riders, if any, come at extra cost and need separate confirmation with an advisor

Official source

⌟ Official product brochure

Learn about this category

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