New Janaraksha Policy

New Janaraksha Policy

Table No. 91

(Endowment Policy With Profits)

Introduction

This Plan is best suited for people with irregular income and whose job  is not secured. Example farmers, milk vendors, petty business men. Financial security for the family, in case of unfortunate death of the policy holder, as risk is covered even during lapsed period of the policy (up to 3 years), after the premiums are paid for two years. This plan is a boon for persons who find it difficult to produce age proof. No premium extra is charged for self declaration, if term is 20 years and age is 40 years or less.

This plan provides payment of sum assured along with accrued bonuses  on maturity date to the live assured or to his nominee in the event  of his premature death. All policies issued under this plan will be, covered  for accident benefit. This benefit  will also be admissible  during the period of extended cover of three years. At any time during the first 36 months  from date of first unpaid premium, the policy holder can revive  the policy without the evidence of good health by  paying the arrears of the premium in full with interest  or arrears of first two unpaid premiums with interest  or arrears of first  unpaid premium with interest .

Benefits

Ø  Maturity Benefits

ü  Basic Sum Assured + Bonus

Ø  Death Benefits:

Death Benefits:
Normal	Sum Assured + Accumulated Bonus
Accident	2 * Sum Assured + Accumulated Bonus

Ø  Sum Assured Benefit:

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

Sum Assured	Rebate
Up To Rs. 50,000	Nil
Rs. 50,001 To Rs. 1,00,000	Re. 1 Per Thousand
Rs. 1,00,001 And Above	Re. 2 Per Thousand

Ø  Continued Risk Cover in the lapsed period

ü  Even if the policy holder is not able to pay further premiums after paying first two years

ü  premiums, the risk cover continues for 3 more years  from the date of premium unpaid.

Ø  Inbuilt Accident benefit

ü  All policies issued under this plan will be covered for accident benefit.

Features

         

Ø  Minimum Sum Assured - Rs. 30,000/-

Ø  Maximum Sum Assured - Rs. 10,00,000/-

Ø  Minimum age at entry - 18 years

Ø  Maximum age at entry - 50 years, 40 years in case of non medical (General).

Ø  Maximum age at maturity -70 years

Ø  Minimum Term - 12 years

Ø  Maximum Term - 30 years, 20 in case of non standard age proof.

Ø  Modes Allowed - All

Ø  Policy Loan, Housing Loan available

Ø  Non  medical allowed.