Jeevan Anurag

 Premium Calculator    Email this page   Print preview

Features

Special Features

Benefits

Policy Parameters

Features

Jeevan Anurag Plan is a with profits plan under which benefits are payable at prespecified durations irrespective of whether the Life Assured survives to the end of the policy term or dies during the term of the policy. In addition, the plan provides for an immediate payment of Sum Assured under the Basic Plan on death of the Life Assured during the term of the policy. This plan is therefore suitable to take care of the educational and other needs of children.

Special Features

Options

The plan offers the following optional riders by payment of additional premium -

Accident Benefit Option

Accident Benefit as optional rider will be available under this plan for a sum not exceeding the Sum Assured under the Basic Plan. This will be called the Accident Benefit Sum Assured, the maximum limit of which shall be Rs.25 lakh for all policies of the Life Assured with the Corporation taken together. An amount equal to the Accident Benefit Sum Assured shall be payable on death if the same occurs as a result of accident provided the policy is in full force. This benefit will be available for the full term of the policy or till the policy anniversary on which the age nearer birthday of the Life Assured is 70 years, whichever is earlier.

Term Assurance Rider Option

Term assurance as optional rider will be available under this plan for a sum not exceeding the Sum Assured under the Basic Plan. This will be called the Term Assurance Rider Sum Assured, the maximum limit of which shall be Rs.25 lakh for all policies of the Life Assured with the Corporation taken together. An amount equal to the Term Assurance Rider Sum Assured shall be payable on death during the policy term provided the policy is in full force.

Critical Illness Rider Option

Critical Illness as optional rider will be available under this plan for a sum not exceeding the Sum Assured under the Basic Plan. This will be called the Critical Illness Rider Sum Assured, the maximum limit of which shall be Rs. 5 lakh for all polices of the Life Assured with the Corporation taken together. An amount equal to the Critical Illness Rider Sum Assured shall be payable in case of diagnosis of a defined categories of critical illness during the term of the plan subject to the terms and conditions of Critical Illness Rider provided the policy is in full force.

Premium Waiver Benefit Option

This is an optional benefit which may be opted in case of following:

If critical illness rider has been opted for ; and The Sum Assured under the Basic Plan is equal to the Critical Illness Rider Sum Assured.

In case, the Life Assured is diagnosed with any of the critical illnesses covered under the policy, the total future premiums (i.e. premium for Sum Assured under the Basic Plan and the premiums for the Riders opted for) in respect of the policy shall be waived provided the policy is in full force.

Benefits

Death Benefit

An amount equal to the Sum Assured under the Basic plan shall be payable immediately on the death of the life assured during the term of the policy, provided the policy is in full force.

Assured Benefits

Provided policy is in full force, an amount equal to 20% of the Sum Assured under the Basic Plan at the start of every year during last 3 policy years before maturity shall be payable. At maturity, 40% of the Sum Assured under the Basic Plan along with Reversionary Bonuses declared from time to time for the full term and the Terminal Bonus, if any, shall be payable.

This amount is payable both in case of life assured surviving to the end of policy term provided policy is kept in force by payment of premiums or dying during the policy term when policy was in force.

For example, if term of the policy is 20 years, 20% of the Sum Assured under the Basic Plan will be payable at the end each of the 17th,18th and 19th policy year and the balance 40% of the Sum Assured under the Basic Plan along with the vested Reversionary Bonus and the Terminal Bonus, if any, at the end of the 20th year.

Participation in profits

The policy shall participate in profits of the "With Profit Assurance Policies" at such rates as may be declared by the Corporation provided the policy is kept in force for full Sum Assured

In case of death of the policyholder when the policy is in full force, the policy shall participate in profits for the balance of the term after payment of death claim of Sum Assured under the Basic Plan.

Terminal Bonuses, if any, may also be declared under the policy depending upon the experience of the Corporation and shall be payable at maturity.

Policy Parameters