This is a combination of Endowment and Whole life plan. Regular Premiums are payable for selected term only.
Features & Conditions of NEW JEEVAN ANAND PLAN:
Minimum age at entry : 18 years (Last Birth Day)
Maximum age at entry : 50 years (Near Birth Day)
Max. age at maturity : 75 years (Near Birth Day)
Minimum term : 15 years
Maximum term : 35 years
Minimum S.A. : Rs. 1,00,000/- & in multiples of Rs. 5,000 thereafter.
Maximum S.A. : No limit
Available Riders: ADDB/AB Rider, Term Rider & Critical Illness Rider.
Mode of Payment: Yearly, Half Yly, Qly & Mly (SSS & NACH) Rebates:
Mode Rebate: Yearly: 2%, Half Yly : 1 %
High Basic S.A. Rebate:
- Upto 1.95 Lakhs : Nil
- 2 Lakhs to 4.95 Lakhs : 1.50 % of Basic SA
- 5 Lakhs to 9.95 Lakhs: 2.50 % of Basic SA
- 10 Lakhs & Above : 3.00 % of Basic SA
During Policy Term (i.e. Premium Paving Term): 1.25 times of Basic Sum Assured on Death + Vested Bonus + FAB if any.
Death after expiry of Policy Term (i.e. Premium Paving Term): Basic Sum Assured only.
MATURITY BENEFIT: At the end of Policy Term (i.e. Premium Paving Term): Basic Sum Assured + Vested Bonus + FAB if any.
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 Premium : u/s 80C
- Maturity/Death claim : u/s 10(10D)
Underwriting Rules: Without Term & Cl Rider
Actual Sum Assured (ASA) for SUC
For FMR, Special Reports, MHR & TRSA: 1.25 times of Basic S.A
Non -Medical Schemes: All Allowed. Age Proofs: All Allowed.
Female Lives : All Allowed.
Pregnant ladies: Cat A1 only up to 24 weeks of pregnancy.
Major Students: Max TRSA inclusive of all plans Rs. 2 crore. TRSA beyond Rs. 2 crore at CUS only 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.
Occupation/Residence Extra: 1.25 times of Standard extra. If Occupation Extra is charged CIR/ADDB/AB Rider will not be allowed.
Keyman/Partnership/Employer-Employee: Allowed only under Employer-Employee
NRIs & FNIOs Residence Group:
- Group I & II : Not Allowed.
- Group III & IV : Allowed with extra.
- House Wives: Allowed without extra. : Group IV & V only.
- NMS : Group V only.
- Mail Order : Only NRIs of Group V.
With Term & Cl Rider: Underwriting Rules of Term Rider will be Applicable.