WHOLE LIFE PLAN- JEEVAN UMANG(845)




This is a whole life plan specially designed for salaried persons so, that they can save money slowly slowly and get ANNUITY after premium paying term along with life cover for lifetime.

PRODUCT SUMMARY:

Jeevan Umang Plan(845) is a non-linked, with-profits whole life assured plan.This plan provides for annual survival benefits from the end of the premium paying term till maturity and lump sum payment at the time of maturity or on death of the policy holder during the policy term.

PREMIUM PAYMENT MODES :

Yearly, Half yearly, Quarterly, Monthly(ECS)

TERM:
(100-age entry)year

PREMIUM PAYING TERM

15 year
20 year
25 year
30 year

MINIMUM ENTRY AGE:
[90]days (completed)

MAXIMUM ENTRY AGE:
55 years(nearest birthday) for PPT = 15
50 years(nearest birthday) for PPT = 20
45 years(nearest birthday) for PPT = 25
40 years(nearest birthday) for PPT = 30

MINIMUM AGE AT THE END OF THE PPT:
[30] years (nearest birthday)

MAXIMUM AGE AT THE END OF THE PPT:
[70]years (nearest birthday)

AGE AT MATURITY:
[100]years (nearest birthday)

MINIMUM SUM ASSURED:
2,00,000

MAXIMUM SUM ASSURED :
NO LIMIT (depending upon the income)

MAXIMUM ACCIDENTAL BENEFIT RIDER SHALL BE AVAILABLE DURING THE PPT ONLY.

POLICY BENEFITS

1.ON DEATH:

On death before the commencement of risk:
An amount equal to the total amount of premium’s paid without interest shall be payable.

On death after commencement of Risk:
Sum assured on death +vested simple reversionary Bonus + FAB if any.
*Where sum assured on death is defined as the highest of Basic Sum-Assured, OR 10 times of annualized premiums, OR 105% of all premiums paid.

ON SURVIVAL:
On survival 8% of basic sum assured shall be payable each year.

SURRENDERED VALUE:
The policy can be surrendered at any time during the policy term provided at least three full years premiums have been paid.

LOAN:
Loan facility is available under this plan, after payment of premiums for at least 3 full years.

INCOME TAX BENEFIT:
*Premium paid under this plan is eligible for TAX rebate under section 80c.
*Maturity under this plan is free under sec 10(10D)

manisha

I am an Insurance Adviser (LIC) and an online re-seller. Also I am working in online field from past five years.

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