The proposer under the plan shall be called Principal Life Assured (PLA) and the other (wife/husband) shall be called Spouse Life Assured (SLA). PLA will pay premiums regularly at the chosen intervals over the term of the policy. The minimum annualised premium will be Rs10,000 increasing thereafter in multiples of Rs1,000 Alternatively, a Single premium can be paid subject to a minimum of Rs. 40,000.
The PLA can choose the level of cover (sum assured) for both within the limits, which will depend on whether the policy is a single premium or regular premium contract, age and the amount of premium agreed to be paid.
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