|
Jeevan Saral ( High Risk, Smooth Return)
Jeevan Saral
Table No. 165
( High Risk, Smooth Return)
Jeevan Saral is a new-generation plan, which primarily
covers risk and has a blend of innovative flexible features. It is a unique
plan having good features of the conventional plans and the flexibility of
unit-linked plans. To the policy holder it provides higher cover, a smooth
return, liquidity and a lot of flexibility. This plan will cater to those who
perceive insurance more as financial protection and wish to make provision for
future contingencies.
Under this plan, death cover will be same irrespective of
age at entry and term but the sum payable at maturity will differ for different
entry ages and terms. The Plan is ideally suited to those who may need money
for life contingencies, education of children, salaried persons as also for
those with uncertain income as there is a facility of auto cover in case
premium due remains unpaid for 1 year, after 3 years premiums have been paid.
Auto cover will continue for a period of 1 year.
Benefits
Provided the policy is in full force :
Ø
Maturity Benefits :
ü
Maturity Sum Assured + Loyalty Additions, if any
Ø
Death Benefits :
ü 250 times the monthly
basic premium + Return of premiums paid, excluding extra/rider premium and
first year premium + Loyalty Addition if any.
Ø Term Rider benefit :
ü
The choice of additional death cover is also
available under the plan as a Term Assurance Option. An amount equal to the
Term Assurance Sum Assured is payable on death during the policy term.
Ø
Accident Benefit Option :
ü Accident benefit is
available up to a maximum of Rs. 25 lakhs. This is inclusive of the maximum
limit of Rs. 25 lakhs placed as other life insurance plans.
Ø
Mode Benefit :
ü
The following table shows the rebate available on the mode
of premium payment.
Mode
|
Rebate
|
Yearly
|
2%
|
Half - Yearly
|
1%
|
Quarterly
|
Nil
|
Features
Ø Minimum Age at Entry - 12 yrs (Completed)
Ø Maximum Age at Entry - 60 yrs (nearer Birth Day)
Ø Maximum Maturity Age- 70 yrs
Ø Minimum Premium - Rs. 250/- per month for entry age up to 49
years and Rs. 400/- per month for entry age 50 years and above.
Ø Maximum Premium - 10,000 per month (In Multiple of Rs. 50)
Ø Modes Allowed - Yearly,
Half yearly Quarterly and monthly under Salary Saving Scheme.
Ø Loyalty Addition after 10
years.
Ø Loan available after
payment of 3 years premiums.
Ø Liberal Special Surrender
Value after 3 years premiums have been paid.
Ø Partial withdrawals from
4th year onwards in case of high premium policies.
