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Flexible Insurance Plan - 16

The main objective of Flexible Insurance Plan is to provide not only emergency financial support to the policy holder during the term of the policy as well as much needed financial security to family in case of unfortunate loss of life but also a flexible payment option so that the policy holder can get a tailored scheme according to his or her needs. 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:
  • Rate of premium is same regardless of age of the policyholder.
  • The Sum Assured is equal to the total premium paid over the term of the policy.
  • Policy Holder can keep the policy in force by paying premium for half the term of policy and get the full benefit at maturity.
  • Flexible Payment Option (Yearly, Half Yearly & Quarterly)
How does the Plan work?

You pay premium until claim or maturity whichever is earlier and receive Sum Assured plus Accumulated bonuses either at maturity or in the unfortunate event of loss of life.

How much will we pay?

  • Maturity Benefit: On maturity you get the Sum Assured plus accumulated bonuses (if any) till maturity date.
  • 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.
What is the Plan term?

The term of this scheme is fixed and it is Ten Years.

Who can buy this Product?

If your age is between 18 & 50 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
  4. FIR – Family Income Rider
  5. MDB – Major Disease Benefit
At a Glance:
Category Savings
Single / Joint Life Single
With Profit Yes
Maturity Value SA + Accrued Bonus
Death Benefit SA + Accrued Bonus till date of death
Anticipated Benefit No
Surrender Value Surrender Value
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
Term Fixed 10 Years
Discontinuation of regular premium payment:
No of years premium paid Consequence
Less than two years The policy will be void (no value payable)
Equal to or more than two years but less than five 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.
More than five years Policy Holder can get the full benefit by paying premium for five years. However, Premium Holder has to give three months prior notice of his or her intension of doing.
Term & Conditions:
  1. Sum Assured can be changed after three years of the commencement of the policy. The premium rate will be changed in accordance with the altered Sum Assured. It can only be done five years prior to maturity.
  2. Any basic alteration can be done after two years since the previous alteration.
  3. Bonus will be recalculated after any basic alteration. If the recalculated bonus decreases than the previous one the alteration would not be approved.
  4. To increase the Sum Assured up to 20%, no medical test report would be required. For more than 20% increase Company may require medical test report as per requirement and Policy Holder would have to bear the cost for the medical test.
  5. Proof of age has to be provided at the time of purchasing the policy as the rate of bonus rate is age dependent.
To learn more please contact:

Delta Life Insurance Co. Ltd
Phone: 55051019, 09613 666 000
Customer Care: 09613 666 999

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