Your policy, explained.
The real return
Calculated| Paid back | A year | |
|---|---|---|
| 4% illustration (not guaranteed) | ₹14,60,000 | 1.87% |
| 8% illustration (not guaranteed) | ₹22,20,000 | 5.90% |
| Premiums paid in | ₹12,00,000 |
The yearly return (IRR) accounts for when each rupee goes in and comes back, so it can be set beside a deposit's rate. The 4% and 8% rows are the two scenarios IRDAI makes every insurer illustrate: not forecasts, promises or expected returns, and the fund's return before charges. Life cover is on top.
Tax on the payout
To verify- Premium as % of the sum assured10.0% · limit 10%
- ULIP premiums a year, across ULIPs issued from 1 Feb 2021limit ₹2,50,000
- TDS on a taxable payout (payouts of ₹1,00,000 or more a year)2% of the income part
Schedule II (Sl. No. 2) of the Income-tax Act, 2025, formerly section 10(10D): tax-free while both tests are met. The premium limit counts your other policies issued since then too, so this can't be confirmed until you add their premiums on the check page. TDS isn't the final tax: a taxable gain is taxed at your slab in your return, and TDS counts towards it. The death benefit is always tax-free.
Life cover
10.0× the premium₹12,00,000 is paid if the life assured dies during the term. IRDAI's minimum is 7 times the yearly premium at entry age 31.
Lock-in
To 1 Aug 2029Stopping now costs up to ₹3,600; the rest moves to the discontinued policy fund (at least the minimum IRDAI sets, 4% a year so far) and is paid out when the lock-in ends. The life cover stops.
Charges
Illustration p.2, Charges- Reduction in yield2.10% · cap 2.25%
- Net yield at 8%5.90%
- Fund management charge1.35% · cap 1.35%
- Premium allocation (year 1)4%
- Policy administration₹600
- Fund management1.35%
Units and NAV, checked
Reconciles| Fund | Start | + Allocated | − Charges | = Expected | End, printed | × NAV | Value |
|---|---|---|---|---|---|---|---|
| Growth Equity Fund | 6200.000 | 3776.147 | 151.420 | 9824.727 | 9824.727 | 22.4512 | ₹2,20,577 |
| Secure Debt Fund | 150.000 | 2321.053 | 53.553 | 2417.500 | 2417.500 | 15.4800 | ₹37,423 |
| All funds | fund value printed ₹2,58,000 | ₹2,58,000 | |||||
- Premium paid · allocated to funds · allocation charge₹1,20,000 · ₹1,17,600 · ₹2,400
- Mortality (this period)₹2,310
- Policy administration (this period)₹720
- Fund management (this period)₹2,932
Each fund: units at the start, plus units allocated, less units taken for charges and withdrawals, should equal the units at the end; units × NAV should equal the value. This checks the statement's arithmetic for 1 Oct 2025 to 30 Sep 2026; the NAVs themselves are the fund's published prices.