Biennial Payment Plan - 04

The main objective of Biennial Payment Plan is to provide financial support to the policy holder on regular basis during the term of the policy as well as much needed financial security to family in case of unfortunate loss of life. It lets you decide how much you would like to get back before the maturity by deciding on the amount of Sum Assured for your life cover based on your current financial position as well assurance of financial return for your family in case of your untimely death.

Key Features
  • A portion of Sum Assured is paid in installments before the maturity.
  • Remaining Portion of Sum Assured plus accrued bonus is paid on maturity.
  • Full Sum Assured plus Accrued Bonus is paid on death at any time during the term of the policy.
  • Flexibility to add supplementary benefits or rider based on your choice for a nominal extra premium
  • Can take loan from the policy after two years in case of financial hardship
  • Flexible Payment Option (Yearly, Half Yearly & Quarterly)
How does the Plan work?

You pay premium until claim or maturity whichever is earlier and depending on the term receive up to 80% of Sum Assured in several installments during the policy term and remaining sum assured plus accumulated bonus at maturity. In the unfortunate event of loss of life, your nominees will get full sum assured plus accrued bonus.

How much you will get?

• Anticipated Benefit: The benefit under this policy is paid as per the following payment schedule:

Term Installment Amounts Payment Schedules
10 years 20% After 4, 6 and 8 years
40% + Bonus At maturity
15 years 15% After 4, 6, 8, 10 and 12 years
25% + Bonus At maturity
20 years 10% After 4, 6, 8, 10, 12, 14, 16 and 18 years
20% + Bonus At maturity

Life Cover Benefit: In the unfortunate event of loss of life, your nominated beneficiary will receive sum assured plus accumulated bonuses (if any) till the date of death even if the anticipated benefits have already been paid.

What is the Plan term?

You can select the plan term for 10, 15 or 20 years subject to your maximum age at maturity is 65 years.

Who can buy this Product?

If your age is between 18 & 53 years, you can buy this product.

Available Supplementary or Rider
  1. ADB – Accidental Death Benefit
  2. PDAB – Permanent Disability and Accidental Benefit
  3. HI – Hospitalization Insurance
At a Glance:
Category Savings
Single / Joint Life Single
With Profit Yes
Anticipated Benefit Portion of the SA is paid in every two years after four yearsm
Maturity Value Remaining of SA + Proportionate Accrued Bonus
Death Benefit SA + Accrued Bonus till date of death
Surrender Value To be calculated using formula.
Loan Yes – Maximum 90% of surrender value excluding bonus
Paid up Yes (after two years premium payment)
Alteration Allowed – after 2 years from the commencement date
Premium payment mode Yearly, Half-Yearly, Quarterly, Monthly
Term Available in 10, 15, & 20 Years Term
Discontinuation of regular premium payment:
No of years premium paid Consequence
Less than two year The policy will be void (no value payable)
Equal to or more than two years The policy will be made a reduced paid-up insurance free from payment of any future premiums and such an amount shall be paid either on maturity or earlier death.
Term & Conditions:
  • If the policyholder dies at any time after taking anticipated benefit (one or more) but before maturity, face sum assured with accrued bonus is paid. However, if the policyholder dies while the policy is in paid up status, total paid anticipated benefit is deducted from the calculated amount.
  • Bonus is accrued as usual. However, bonus is not accrued for the amount which has been paid as anticipated benefit
To learn more please contact:

Delta Life Insurance Co. Ltd
Phone: 55051019, 09613 666 000
Customer Care: 09613 666 999
Email: info@deltalife.org

* Supplementary Benefits or Rider: Supplementary Benefits or Riders are additional coverage attached to main benefit. See Rider Benefits guide for details.