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PLAN - 159 KOMAL JEEVAN (W.E.F. 14-11-2002) |
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| INSURANCE TYPE |
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CHILDREN MONEY BACK PLAN WITH GUARANTEED ADDITION |
| MINIMUM AGE ENTRY |
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0 YEAR LBD |
| MAXIMUM AGE ENTRY |
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10 YEARS NBD |
| MATURITY AGE |
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26 YEARS LBD |
| MODE |
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YLY,HLY,QLY,SSS & SINGLE PREMIUM |
| MINIMUM SUM ASSURED |
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Rs. 100000 THEREAFTER IN MULTIPLE OF Rs. 25,000 |
| MAXIMUM SUM ASSURED |
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Rs. 25,00,000 within the overall permissible limit of Rs. 50 lakhs |
| REBATE FOR MODE |
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YLY: 2%, HLY : 1 % |
| MEDICAL EXAM |
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NO |
| DAB |
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NO |
| AGE PROOF |
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STD |
| POLICY LOAN |
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NO |
| REVIVAL |
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YES |
| MINIMUM TERM |
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08 YEARS |
| MAXIMUM TERM |
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18 YEARS |
| PROPOSAL FORM |
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360 |
| PROPOSER |
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Father or Mother (Female cat-I,II) or Legal guardian (if parents are not alive) |
| POLICY AS A GIFT |
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Close relatives can gift "Single Premium" policy under this plan. Even in case of gift proposer should be either father or mother or legal guardian as the case may be |
| COMMENCEMENT OF RISK |
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Either after 2 years from date of commencement of the policy or from the policy anniversary immediately following the completion of 7 years of age |
| PAID-UP VALUE |
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After payment of 3 full years premium |
| SURRENDER VALUE |
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After paymentof 3 full years premium |
| GUARANTEED SURRENDER VALUE |
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(1) BEFORE THE DATE OF COMMENCEMENT OF RISK 90% of the premiums paid excluding the premiums paid during the first year
(2) AFTER THE DATE OF COMMENCEMENT OF RISK: 90% of the premiums paid before the date of commencement of risk excluding the premiums paid during the first policy year plus 30% of the premiums paid after the date of commencement of risk
(3) SINGLE PREMIUM POLICY: 90% of the single premium G.S.V is subject to deductions of instalment benefits, extra premums and rider premiums |
| BENEFITS |
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| (A) SURVIVAL BENEFIT : |
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Lifeassured attaining age 18 years - 20% of S.A.
Life assured attaining age 20 years - 20% of S.A.
Life assured attaining age 22 years - 30% of S.A.
Life assured attaining age 24 years - 30% of S.A. |
| (B) GUARANTEED ADDITION : |
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Rs. 75 per 1000 S.A. per annum will be payable on death or on maturity (i.e. on policy anniversary immediately after the L.A. attains age of 26 years) |
| (C) LOYALTY ADDITION : |
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is payable on maturity or early death depending upon the experience of the Corporation. No loyalty addition will be payable in surrendered or discounted or made paid up before date of maturity or the date of death |
| (D) DEATH BENEFIT : |
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In case of death of the L.A. before the commencement of risk, the policy shall stand cancelled and premium paid (Excluding the premium waiver benefit and term rider premiums) under the policy will be refunded in full.
However, if death occurs after commencement of risk but before policy matures the full S.A. together with guaranteed additions is payable without any deduction or adjustment for the amount that may have been paid earlier by way of survival benefits. |
| (E) PREMIUM WAIVER BENEFIT : |
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The proposer only (not the donor) upto the age 50 NBD can avail of this benefit. The deferment period is taken as 18 years minus age at entry. |
| (F) TERM RIER BENEFIT : |
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The proposer only (not the donor) to the extent of 20% of the basic S.A. under the policy not exceeding Rs. 100000/- The benefit will be papyable in case the proposer dies before the child attains age 18 years LBD |
