Product Summary | Jeevan Umang ( 945 ) is a non-linked, with-profits whole life assurance plan with guaranteed survival benefits at the rate of 8% of the sum assured after premium paying term, through out life. Bonus at a differential rate is available even after the premium paying plan in this plan. Sum Assured along with bonus and final additional bonus is paid at death or maturity ( which ever is earlier |
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Premium Payment Mode | Yearly, Half Yearly, Quarterly, Monthly(SSS and NACH) |
Annuity Mode | - |
Optional Benefits | - |
Term | 100 - Age at entry |
Premium Paying Term | 15 Year, 20 Year, 25 Year, 30 Year |
Minimum Age at Entry | 90 days completed |
Maximum Age at Entry | 55 Years (nbd) of PPT 15, 50 Years (nbd) of PPT 20, 45 Years (nbd) of PPT 25, 40 Years (nbd) of PPT 30. |
Annuity Options | - |
Minimum Purchase Price | - |
Deferment Period | - |
Joint Annuity | - |
Maximum Cover Ceasing Age | - |
Maturity Age | - |
Sum Assured | - |
Maturity Benefit | - |
Death Benefit | - |
Minimum Basic Sum Assured | - |
Minimum age at the end of Premium Paying Term | 30 Years ( Nearest Birth Day ) | Maximum Maturity Age | - |
Minimum Premium | - |
Maximum Premium | |
Minimum Basic Sum Assured | - |
Sum Assured on Death | - |
Minimum Sum Assured | 2,00,000 |
Maximum Sum Assured | - |
Guaranteed Additions | - |
Survival Benefits | - |
Riders Available | ADDB/AB, Critical Illness Rider, Term Rider, Premium Waiver Benefit (for minors). |
Accidental Death and Disability benefit (ADDB) | Available up to age 70. |
On Death | Sum Assured on death + vested bonus + FAB |
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On Survival | - |
On detection of Early Stage Cancer | 8% of sum assured shall be paid every year till 100 years of age and on surviving the period, Sum Assured + Vested Bonus + FAB shall be paid |
On detection of Major Stage Cancer | - |
Settlement Option | - |
Multiple Allowed | - |
Surrender Value | Policy can be surrendered at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy |
Loan | Loan can be availed at any time during the policy term provided at least 2 full years premium have been paid and two full years completed since inception of policy |
Income Tax Benefit | Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act |
Proposal Form | From No 300 for major lives and Form No 360 for minor lives |