What is Additional Funding under CA-LE? How does a Master Policyholder benefit under CA-LE?
Additional Funding is absorption of surrender penalty levied by the competitor at time of exit, to join SBI Life. SBI Life will help the Master Policyholder to make his losses good, incurred on exit from the competitor, by giving an amount equal to actual surrender penalty subject to maximum 3% of transferred fund amount including surrender penalty levied on the past service contributions received during 1st policy year. This facility is available subject to proof of surrender penalty being levied. It will be recovered in three equal annual installments at the end of each subsequent policy year from the fund.
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