Jeevan Anurag (Endowment Policy With Fixed Benefits)

Jeevan Anurag

Table No.168

(Endowment Policy With Fixed Benefits)

Introduction

Jeevan Anurag is a fixed term policy suitable for both Short term needs like family provision in case of premature death of the policy holder and long term needs like education and marriage of dependents. This policy is a right choice if a person wants to provide for the marriage of his daughter. The term can be fixed so as to receive the maturity benefit in marriageable age of the daughter.

On policy holder surviving till maturity, he receives 20% of sum assured at the start of every year during last 3 policy years before maturity. At maturity, 40% of sum assured along with Bonus declared from time to time for the full term and Final Additional Bonus, if any, shall be payable. Even if the policyholder dies before the term his nominee would receive these amounts.  One of the important features of this policy is that in case of the premature death of the policy holder the sum assured is immediately paid to the nominee, future premiums are waived and the above mentioned fixed benefits are again paid to the nominee. 

Benefits

Ø  Maturity Benefits:

ü  20% of sum assured every year during the last 3 policy years before maturity and 40% on Maturity along with Bonus and Final Additional Bonus.

Ø  Death Benefits:

ü  Sum Assured is immediately paid to nominee and he/she is eligible for maturity benefits also. Premium is also waived.

Ø  Mode Benefit:

ü  The following table shows the rebate available on the mode of premium payment.

Mode	Rebate
Yearly	2% of tabular premium
Half - Yearly	1% of tabular premium
Quarterly / SSS	Nil

Ø  Sum Assured Benefit:

ü  The following table shows the rebate available on the sum assured.

Sum Assured	Rebate
Rs. 50,000 To Rs. 1,00,000	Nil
Rs. 1,05,000 And Above	Re. 2 Per Thousand

Features

Ø  Minimum Sum Assured - Rs. 50,000/-

Ø  No maximum limit.

Ø  Minimum age at entry -20 year

Ø  Maximum age at entry- 60 year

Ø  Maximum Maturity age - 70 years

Ø  Minimum Term - 5 years for single Premium & 10 years for Regular Premium.

Ø  Wider option to select Premium Paying Term.

Ø  Maximum Term - 25 years

Ø  Modes Allowed - All

Ø  Standard Age proof compulsory

Ø  On the death of the policy holder, future premiums are waived and maturity benefit is again paid to the nominee.

Ø  Critical Illness Rider Benefit available.

Ø  Critical Illness Premium Waiver Benefit available.

Ø  Term Assurance Rider Benefit available.