Jeevan Shree-1 (With Profit & Guaranteed Addition )

Jeevan Shree-1

Table No. 162

 ( With Profit & Guaranteed Addition )

Successful people like professional, industrialist, consultants, contractors, business partners, estate owners, self employed individuals , NRIs, models, film stars etc. need insurance protection matching with their profiles. Jeevan Shree-1 is the policy to cater the needs of such upper segments of society.

This policy also perfectly suits the needs of employers to effect insurance on the lives of senior managers and key men whose sudden exit could affect the profitability of the organization. It is basically an Endowment Assurance Plan, where you have the choice of policy terms with premium limited to a shorter term.

This New plan provides for payment of Guaranteed Additions for first 5 years @ Rs 50/- per thousand p.a. of the policy and participation in the profit thereafter.

Benefits

Provided the policy is in full force :

Ø  Maturity Benefits :

ü  Sum Assured + Guaranteed Addition @ Rs 50/- per thousand p.a. (for first 5 years) + Bonus (From 6th year onwards).

Ø  Death Benefits :

ü  During first 5 policy years:

ü  Sum Assured + Vested Guaranteed Addition @ Rs 50/- per thousand p.a. for each completed year.

ü  After first 5 policy years:

ü  Sum Assured + Vested Guaranteed Addition @ Rs 50/- per thousand p.a. for first 5 years + Bonuses declared after the 5th policy year.

Ø  Term Rider benefit :

ü  The choice of additional death cover is also available under the plan as a Term Assurance Option.

ü  Premium for this option are payable during the premium paying term and an amount equal to the Term Assurance Sum Assured is payable on death during the policy term. Bonus and Guaranteed addition will not apply to the Term Rider Sum assured.

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% of tabular premium
Half - Yearly	1% of tabular premium
Quarterly	Nil

Ø  Sum Assured Benefit:

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

Sum Assured	Rebate
50,00,000 And Above	Re. 0.5 Per Thousand (Regular Premium)
	Re. 2.0 Per Thousand (Single Premium)

Features

Ø  Wide options to select premium paying terms as follows:

Term	Premium Paying Term
5	1, 2 or 3
10	1, 2, 3, 4 or 6
15	1, 2, 3, 4, 6, 8 or 10
20	1, 2, 3, 4, 6, 8, 10 or 12
25	1, 2, 3, 4, 6, 8, 10, 12 or 16

Ø  Single premium can also be paid for terms ranging from 5 to 25.

Ø  Minimum sum assured Rs.5,00,000 & thereafter in multiples of Rs. 1,00,000.

Ø  No maximum limit (Depends upon Income).

Ø  Minimum  age at entry - 18 years (completed).

Ø  Maximum age at entry - 65 years.

Ø  Maximum maturity age - 75 years.

Ø  Modes allowed  - Yearly, Half Yearly, Quarterly and SSS.

Ø  Policy Loan available after 1 year depending upon term.

Term Assurance Features:

Ø  Minimum Age at entry  - 18 years completed.

Ø  Maximum age at entry  - 50 years.

Ø  Maximum maturity age    - 60 years.

Ø  Minimum Sum Assured    - 1 lakh.

Ø  Maximum Sum Assured  -  An Amount upto the Basic Sum Assured, subject to the maximum of Rs.25 lakhs overall limit, under all policies of the life assured with LIC.