Digit ICON - A Guaranteed* Returns Savings Life Insurance Plan

While some of us prioritise financial protection over savings, others might look for savings and income options, along with coverage. Some might want guaranteed* returns, while others might have a higher risk appetite and want to maximise their returns.

There has not been a one-cut fit for all product in the life insurance market.

However, if you are looking to build a corpus through safe returns, want to plan your retirement income or a secondary guaranteed* income, the guaranteed* savings plans are a safe choice.

To address the needs of individuals with the above savings objective, we are introducing Digit ICON – A Non-Linked Non-Participating Individual Life Insurance Savings Plan.

Digit ICON is a Non-Linked, Non-Participating Individual Life Insurance Savings Plan designed to safeguard your future financial goals.

Apart from providing life coverage, this product also offers a financial shield for the future in the form of corpus building. This corpus can be accessed as a lump sum or regular income, thus ensuring peace of mind for you and your loved ones.

Digit ICON is a simple, secure and reliable choice that provides guaranteed* returns.

Let's explore the unique features that set this plan apart, providing you with comprehensive coverage and a steadfast commitment to your financial well-being. Welcome to a future secured with Digit ICON.

A non-linked non-participating plan, as the name denotes, is a type of insurance where the returns are not linked to the performance of investment funds, and policyholders do not participate in the profits of the insurance company.

Non-participating plans provide fixed benefits as specified in the policy. These plans offer stability and a guaranteed* payout.

1. Income Benefit

• A product designed to provide a steady income along with financial protection. 
  
• You receive a regular income over the chosen income period and as per the chosen frequency, provided all due premiums are paid and the life assured survives till the end of policy term.
  
• You also have the option of accumulating your income (before they are paid out) and then withdrawing it at a later stage. 
  

2. Lumpsum Benefit

3. Income + Lumpsum Benefit

• For people who want a regular guaranteed* income along with corpus building for future financial goals, not to forget, a life cover too. 
  
• You receive a regular guaranteed* income from the year that you choose and on policy completion, you receive a lumpsum as maturity benefit, provided all due premiums are paid and the life assured survives till the end of policy term.
  
• You will also have the option to receive the maturity benefit in the form of a series of guaranteed* payouts after end of the policy term under the Staggered Maturity Benefit.
  

4. Whole Life Benefit

• A financial security for the rest of your life. Well, almost!
  
• You get not just the life cover but also a regular monthly or annual income till the age of 100 years during the income period, where the income period begins in specific years after the Premium Paying Term (PPT+1st, PPT+2nd, PPT+3rd year). Under Whole Life benefit option, only limited premium payment option is available.
  
• Option to avail a one-time money back benefit, equal to 50% of total annualised premiums received by us, and this is paid 20 years after the policy commencement date or attaining the age of 75 years, whichever is later subject to survival.
  

1. Multiple Payout Options

You can choose your plan variant as per your preference of receiving your returns. Not just that, you can accumulate your income or collect your maturity benefit as income. Interesting right?

• Want to accumulate a corpus? Choose the lumpsum variant.
  
• Plan to build a second income? Choose the income variant.
• Want to save during earning years but might later decide to get the payouts as income? No problem! You can choose to get your lumpsum maturity benefit in income form by choosing the staggered maturity benefit wherein you get your payouts as regular income plus lumpsum, as chosen after the policy tenure.
• You can opt for the staggered maturity benefit either at inception of the policy or during the last policy year, but at least 6 months before the policy maturity date.
  
• Want best of both the worlds? You have the option of taking income for specific years and then get lumpsum on maturity with the income+ lumpsum variant.
  
• Want to plan your guaranteed* income payouts as gifts on special days? Choose your special date at the inception of the policy.
  

2. Customised Premium Payment

Premium payment options suited to your preferences. Choose your premium amount, payment frequency or premium payment term as per your financial availability.

• First and foremost, choose a premium amount as per your preferences.
• You can choose limited premium, single premium or regular premium payment. Under limited pay and regular pay, you have the option of paying your premium annually, quarterly, half yearly or monthly as per your choice.
  
• After the complete payment of premium for the first five years, policyholders have the option of reducing the future premiums up to 50%, subject to policy terms and conditions. In such a case, all future benefits are accordingly reduced.
  

3. Customer First Benefits

Prioritizing customers, our product offers various additional benefits to provide an extra shield of protection to the family in case of unfortunate circumstances (refer the table in the next subhead).

• Inbuilt accidental death benefit saves the family from added financial turmoil in case of accidental death. This is an additional benefit that is over and above the death benefit and will not be deducted from the death benefit. 
  
• Policy continuance benefit on death ensures that in addition to death benefit, the family continues to receive the policy benefits even in case of death of the life assured. In this case, the future premiums which are due are not taken by the insurer.

4. Wellness Benefits

15+ Wellness Benefits to motivate you for taking care of your health and maintain a healthy lifestyle through such wellness measures.

• These benefits include unlimited video doctor consultation, discounts on medicines, lab services facilitation, etc.
  
• A Wellness Coach to help the insured members in proactively managing their health.
  
• Weight management, activity and fitness, dietary plans, alcohol rehabilitation and many other benefits available on our app.
  

Here are some of the major features of Digit ICON Non-Linked Non-Participating Plan. Features will be applicable according to the variant chosen. 

• Variants: Digit ICON comes in four variants, Lumpsum Benefit, Income Benefit, Income+Lumpsum Benefit and Whole Life Benefit. Based on the above variants, you can receive the payout as a lumpsum, or regular income spread over a period called ‘Income Period’.  
  
• Sum Assured on Maturity: Means the amount which is guaranteed* to become payable on maturity of the Policy, in accordance with the terms and conditions of the Policy and as specified in the Policy Schedule.
  
• Maturity Benefit: Maturity Benefit is the total of sum assured on maturity and accrued special additions, if any. 
  
• Staggered Maturity Benefit: You can choose to receive the maturity benefit in staggered form, i.e., a regular stream of guaranteed* income paid over a certain period and a lumpsum amount (if opted for) at the end of such staggered maturity period. It can also be paid as increasing income, where the income payout increases at a predetermined rate as per the option chosen.
  
• Accrued Special Additions: These are the benefits accumulated in the policy during specific years and are payable on maturity or on Death or surrender, whichever is earlier.
  
• Income Benefit: The Income can be paid as level income where the amount remains same throughout the income period. The income here can also be paid as increasing income, where the payout increases at a predetermined rate as per the option chosen.   
  
• Death Benefit: On the death of life assured, the death benefit as agreed is paid to the beneficiary. 
  
• Inbuilt Additional Accidental Death Benefit: If the life assured dies in an unfortunate accident, the beneficiary receives this additional benefit equal to the sum assured on death, in addition to death benefit. This helps in taking care of the extra financial burden that an accident treatment brings along. 

Claim process is as simple as it can be. 

Register a claim using any of these methods:

1. Email us at lifeclaims@godigit.com

Or

2. Call our helpline number: 9960126126