Family Income Benefit (FIB)

This supplementary cover provides that incase of death of the life insured during term of this cover, an annuity of 10% to 50% per annum of the basic sum insured will be payable till the completion of term of this cover. For instance, if a life insured has taken 25% FIB supplementary cover for 20 years on his policy having sum insured of Rs 1,000,000. If the life insured expires during term of FIB, say at the end of fourth year, an annual sum of Rs 250,000 will be payable for rest of 16 years.

While the basic plan provides a lump sum, FIB provides a regular stream of income to the dependents and helps in meeting the day to day expenses. This supplementary cover is available to lives between 18 and 55 years of ages. It can be attached with following plans:

• Whole Life Assurance
• Endowment Assurance
• Anticipated Endowment Assurance
• Jeevan Sathi Assurance
• Child Education & Marriage Assurance
• Shad Abad Assurance
• Shehnai Policy
• Child Protection Assurance (For adult life only)
• Muhafiz Plus Assurance
• Optional Maturity Plan