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Jeevan Tarang (With Profit)
Jeevan Tarang
Table No. 178
(Whole Life Plan with Survival Benefits)
This Plan is a whole life plan which provides
continuous income after the chosen period (Accumulation Period). The
accumulation period can be chosen from 10, 15 and 20 years. After the
accumulation period, bonus accumulated will be paid in one lump sum immediately.
One year after accumulation period, 5.5% of the sum assured will be paid every
year till Age 100 or up-to death whichever is earlier. It is important to note
that the life risk cover continues for life long up-to age 100. After
completion of Age 100, on policy anniversary, full sum assured along with
loyalty addition, if any, will be paid.
This plan will be useful for people who are looking at
a regular income (Pension) after certain age.
Benefits
Ø
Survival benefits
Bonus
will be paid in one lump sum on survival to the end of the selected
Accumulation Period.
5.5% of the Sum assured will be paid every year, one
year after accumulation period till age 100 or earlier death.
Ø
Death benefit
During
the accumulation period, sum assured along with vested bonus will be paid
provided risk cover has commenced. The risk cover commences immediately if the
age of policy holder is more than 12 years. In case where the policy holder is
less than or equal to 12 years at the time of taking the policy, risk cover
will commence after 2 years or from policy anniversary when the policy holder
completes Age 7, whichever is later.
After the accumulation period, sum assured along with
loyalty addition, if any, is payable in case of death of the policy holder.
Ø
Maturity Benefit
The sum assured along with loyalty addition, if any,
will be payable on survival of the life assured to the policy anniversary
coinciding with or immediately following the completion of 100 years of
age.
Features
Ø
Accumulation Period
The plan
offers three accumulation periods - 10, 15 and 20 years. The proposer can
choose any period.
Ø
Optional Rider
ü
This plan provides for following rider on payment of
additional premiums.
ü
Accident Benefit Rider
ü
Term Rider
ü
Premium Waiver Benefit
ü
Critical Illness Rider
ü
Premium waiver under Critical Illness Rider
Ø
Participation in
profits
Policies under
this plan shall participate in profits of the corporation. During the
accumulation period, policies will receive bonus which will be payable on
survival to the end of accumulation period or on earlier death. After the
accumulation period, policies will be entitled to receive Loyalty Addition,
which will be paid either on maturity or earlier death. The amount of bonus and
loyalty addition will depend on experience of the corporation.
Other Features
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Age At Entry
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0 To 60 Years (
Nearest Birthday )
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Premium Ceasing
Age
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70 Years (
Nearest Birthday )
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Modes Allowed
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Yly, Hly, Qly,
Mly, SSS And Single Premium
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Min Age At The End
Of Accumulation Period
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18 Years (
Completed )
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Minimum Sum
Assured
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Rs. 1,00,000/-
Thereafter in Multiplies Of 5,000/-
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Loan Available
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