jeevan rakshak plan no.827. jeevan rakshak plan no.827

JeevanRakshak Plan No.827

Jeevan RakshakPlan No.827

This is a regular premium,non-linked,with profit Endowment Assurance Plan, This Plan shall be allowed to standard lives only under Non-Medical limits.


DEATH BENEFITS:-

First 5 years of Policy :- Sum Assured on Death.6th year onwards :- Sum Assured on Death + Loyalty Additions if any.Sum Assured on Death = Higher of Basic SA or times of annualized Premium or 105 % of total premiums paid as on date of death.The premium excludes extra premium and rider premiums.


MATURITY BENEFITS:Basic Sum Assured + Loyalty Additions if any


ACCIDENT BENEFIT RIDER:Accident benefit rider available premium Rs. 0.50 per thousand S.A. for all except for Police personal premium Rs. 1.00 per thousand S.A.


GRACE PERIOD FOR PAYMENT OF PREMIUM:

A grace period of one calender month but not less than 30 days for mode Yly,Hly or Qly and 15 days for monthly mode of premium payment


Total first year commission :- 15 % + 6% = 21 %

18.75 % + 7.5% = 26.25 %


LOAN & SURRENDER

• LOAN:• Available after payment of 3 annual premiums. 70% loan in inforce

policies, and 60 % in paid up policies.

• SURRENDER:• Policies can be surrendered anytime during the policy term provided

at least 3 full years premiums are paid.(No loyalty addition will be paid)

Service Tax:>

1st year of policy :- 3.09 %2nd year onwards :- 1.545 %


BACK-DATING INTEREST:

Allowed with lean months benefits


Underwriting Rules: Non –Medical Scheme:- Standalone S.A. over and above other

Scheme.

Note :This is a standalone Plan,not to be clubbed with any other Plan for SUC/Max. Insurance allowed under any category of lives.

Age NBD Std & NSAP-1

NSAP-2 NSAP-3

18-35 2.00 lacs 2.00 lacs 2.00 lacs

36-45 2.00 lacs 2 .00 lacs 1.50 lacs

46-55 2.00 lacs 1.25 lacs 1.25 lacs

Underwriting Rules: Non-Standard Age Proofs: All allowed. Extra is to be charged under

NSAP-II & NSAP-III Female lives: All allowed.

* Pregnant ladies not allowed.

* Housewives : allowed without matching Insurance of Husband.

* Single women / literate widows with or without minor/major children with income allowed upto max. age at entry 55 years.

Minor /Major students :

Allowed to school going and standard lives only. School age proof must.

Separate proposal forms for minor and major lives.

Tax Benefits:

On Basic Premium : u/s 80CMaturity /Death Benefit : u/s 10(10D)


jeevan rakshak plan no.827. jeevan rakshak plan no.827

Documents