This is a limited premium, non-linked, with profits Endowment Plan. Premiums are payable for 3 years less than policy term.
Features & Conditions JEEVAN LAKSHYA PLAN:
Minimum age at entry : 18 years Ibd
Maximum age at entry : 50 years nbd
Maximum maturity age : 65 years nbd
Policy Term : 13 to 25 years.
Premium Paying Term🙁 Policy Term -3)Yrs
Minimum S.A. : Rs. 1,00,000/- & in multiples of Rs. 10,000 thereafter.
Maximum S.A. : No limit
SUM ASSURED ON DEATH: Income Benefit (10% of basic SA Payable from Policy anniversary after death till Policy anniversary before maturity) + 110% of Basic SA Payable on Maturity.
DEATH BENEFIT: SA on Death + Bonus for full term + FAB, if any, Payable on Maturity.
MATURITY BENEFIT: Basic Sum Assured + Vested Bonus + FAB if any.
Available Riders: ADDB/AB Rider, Term Rider & Critical Illness Rider.
Mode of Payment: Yearly, Half Yly, Qly & Mly (SSS & NACH) Rebates:
Mode Rebate: Yearlv : 2%, Half Yly :1%
High Basic S.A. Rebate:
- Upto 1,90,000: Nil
- 200000 to 4,90,000 : 2 % of Basic SA
- 500000/-& above :3% of Basic SA
Grace Period: 15 Days for monthly mode and 30 days for other modes.
Claim Concessions: Available under Base Plan only. Not apply to Riders and Death due to Suicide.
Paid up/Surrender/Policy Loan: Available after payment of premium of 2 full years.
Revivals: Within 5 years of FUP.
Back Dating: Allowed with lean Month’s benefits. Proposal Form: 300 or 340
Tax Benefits :
- On Basic Premium : u/s 80C
- Maturity/Death claim :u/sl0(10D)
Underwriting Rules: Without Term or Cl Rider:
Actual Sum Assured (ASA) for SUC:
For FMR, Special Reports, MHR & TRSA: Basic S.A. only.
Non -Medical Schemes: All Allowed.
Age Proofs: All Allowed.
Female Lives : All Allowed.
Pregnant ladies: Cat A1 only up to 24 weeks of pregnancy.
- Max rated up S.A. inclusive of all plans Rs. 2 crore.
- S.A. beyond Rs. 2 crore at ZUS/CUS with MM’s recommendation. Standard Age Proof is Must
Sub-Standard Major lives:
- Up to EMR Class Ten only.
- Physically Handicapped lives should be gainfully employed.
With Term or Cl Rider: Underwriting Rules of Term or Cl Rider will apply.