Features of plan
Jeevan Anand plan is the combination of whole life policy and endowment insurance policy the plan provides the per-decided S.A. and bonus at the end of the stipulated PPT, but the risk cover on the life continues till death. This policy is suitable for the people of all ages and social groups.
Plan parameters
UNDERWRITING CONDITION'S
Form no: 300 (rev.)
Age proof: std/ NSAP- 1,2,3
Female lives category: I/II/III
Non-medical (Gen): Allowed
Non-medical (Prof): Allowed
Non-medical (special): Allowed
Actual sum assured: Basic SA
Risk coverage: SA+ Bonus
Dating back @ 8%: Allowed
BENEFITS3
Maturity benefit: S.A. +Bonus + FAB, if any is at the end of the premium paying term (PPT)
Death benefit:
If death occurs during the premium paying term S.A. + Bonus +FAB, if any is payable and
premium payment is ceased. An extra amount equal to the S.A. is payable if death occurs after
the premium paying term. No bonus is paid on death after the premium paying term.
Accident benefit: The double accident benefit is available during the premium paying term and
thereafter up to age 70. the premium for this has been built into the tabular premium rate.
Example: Mr. Sharad Pawar 25 years, opts for jeevan anand policy for 20 years with S.A. Rs.1
Lac. He has to pay annual premium of Rs.5490/- on maturity, Mr. Sharad Pawar will get
Rs.1,98,000/- (S.A. + Bonus as per 2005 rates i.e. Rs.43 per thousand per annum which become
43 x 100 x 20 = 86,000/-). Even after the premium paying term is over, risk cover continues till
the death of Mr. Sharad Pawar.
But if, Mr. Sharad Pawar dies at the age of 65 years his nominee will get an additional amount
equal to the S.A. i. e. Rs.1 Lac in cash, Mr. Sharad Pawar dies during premium paying term his
nominee will receive Rs. 1Lac + accumulated Bonus.
Jeevan Anand plan is the combination of whole life policy and endowment insurance policy the plan provides the per-decided S.A. and bonus at the end of the stipulated PPT, but the risk cover on the life continues till death. This policy is suitable for the people of all ages and social groups.
The policyholder will be benefited by giving
protection to their families from a financial setback that may occur owing
to their demise The amount assured if not paid by reason of his death earlier
will be payable at the end of the endowment term where it can be invested in an
annuity provision for the rest of the policyholder's of this plan is
moderate premiums, high liquidity, saving oriented.
Premiums are usually payable for the selected term of
years or until death if it occurs during the term period. Accident benefit
is available during engaged in hazardous occupations attracting occupational
extra.
Plan parameters
Age at entry: Min.18 yrs Max. 65 yrs.
PPT maturity age: Max. 75 yrs
Sum assured: Min. 1,00,000 Max. No. Limit
S.A. in multiples: 5000
Term: Min.5 yrs Max. 57 yrs
Mode of payment: YLY/HLY/QLY/SSS/MLY
Accident benefit: Incl. in. T.P.
Policy loan: yes
Housing loan: yes
Assignment: yes
Revival: yes
Surrender of policy: yes
Term rider: N.A.
CIR: yes
UNDERWRITING CONDITION'S
Form no: 300 (rev.)
Age proof: std/ NSAP- 1,2,3
Female lives category: I/II/III
Non-medical (Gen): Allowed
Non-medical (Prof): Allowed
Non-medical (special): Allowed
Actual sum assured: Basic SA
Risk coverage: SA+ Bonus
Dating back @ 8%: Allowed
BENEFITS3
Maturity benefit: S.A. +Bonus + FAB, if any is at the end of the premium paying term (PPT)
Death benefit:
If death occurs during the premium paying term S.A. + Bonus +FAB, if any is payable and
premium payment is ceased. An extra amount equal to the S.A. is payable if death occurs after
the premium paying term. No bonus is paid on death after the premium paying term.
Accident benefit: The double accident benefit is available during the premium paying term and
thereafter up to age 70. the premium for this has been built into the tabular premium rate.
Example: Mr. Sharad Pawar 25 years, opts for jeevan anand policy for 20 years with S.A. Rs.1
Lac. He has to pay annual premium of Rs.5490/- on maturity, Mr. Sharad Pawar will get
Rs.1,98,000/- (S.A. + Bonus as per 2005 rates i.e. Rs.43 per thousand per annum which become
43 x 100 x 20 = 86,000/-). Even after the premium paying term is over, risk cover continues till
the death of Mr. Sharad Pawar.
But if, Mr. Sharad Pawar dies at the age of 65 years his nominee will get an additional amount
equal to the S.A. i. e. Rs.1 Lac in cash, Mr. Sharad Pawar dies during premium paying term his
nominee will receive Rs. 1Lac + accumulated Bonus.