IndiaFirst Young India Plan - Life Insurance

21. How do we value the units of your plan?We will value your units in line with the unit linkedguidelines issued by the IRDA. As per the prevailingguidelines of the Authority, Unit Price will be2calculated as follows –Market value of the investment held by the fundPlus: value of current assetsLess: value of current liabilities and provisions, if any,Divided: by the number of units existing on thevaluation date (before creation/redemption of units).When divided by the total number of units in the fundat the valuation date (before any units are redeemed),we get the unit price of the fund under consideration.22. Allocation of premiums to unitsWhen and how does your premium getallocated to units in your plan?The allotment of units to you, the policyholder will bedone only after we receive the premium amount. Thepremium allocation to the units varies according to thefollowing situations -NewbusinessRenewalpremiumsWe will allocate new units on theday we receive premiums if wereceive these before 3:00 p.m. Theyare allocated the next day if wereceive them after 3:00 p.m.We will allocate the premium on thedue date, when it has been receivedbefore the due date. (This assumesthat the full stipulated premium isreceived on the due date). We willkeep the renewal premiumsreceived before the due date in thedeposit account. It will not earn anyreturns until the renewal premiumdue date. On the due date, we willuse the same for unit fundsHow do we value your units at the time ofrenewals and redemptions of your premiums?We will value your units in line with the unit linkedguidelines issued by the IRDA.For renewalpremiums/funds switchreceived till3:00 p.m.For renewalpremiums/funds switchreceived after3:00 p.m.For outstationcheques/demanddraftsWe will apply the closing unit priceof the day on which your renewalpremium/ funds switch isreceived. This can happen only ifwe receive it by 3.00 p.m. alongwith a local cheque or a demanddraft payable at par at the placewhere the premium is received.We will apply the closing unitprice of the next business day ifw e r e c e i v e y o u r r e n e w a lpremiums after 3.00 p.m. This hasto be accompanied with a localcheque or a demand draft payableat par at the place where thepremium is received.If the cheque you issue forpremium renewal is an outstationcheque/demand draft, we willapply the closing unit price of theday on which cheques/demanddraft is realised.Note: We will not accept any amount less than the dueregular premium payable stated in the contract.23. Broad risks with your planIs your plan prone to risks? If yes, who bears therisk?Yes your plan does carry risks.• The premium paid in unit linked plans are subject toinvestment risks associated with capital markets.The value of the units may go up or down based onthe performance of the fund. Other factorsinfluencing the capital market affect the value of theunits. Hence you, as the policyholder areresponsible for all your decisions.11