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Features of plan:
This policy is beneficial for partner having less then
a year old child (not an adopted child). It makes provision
for higher education / marriage of the child. In case
of death of the policyholder at any time during the
term of the policy one additional S.A. will be payable
in addition to the above fixed benefits. This plan is
not allowed when occupational extra is chargeable and
to pregnant ladies. Joint declaration by the husband
and wife is must, if child is less then one year old.
One fourth of the S.A. is given every year during the
last 4 years of maturity to the policyholder. Bonus
for the full term on the full S.A. is given on maturity.
Plan parameter
Age at entry: Min. 18 yrs, Max. 45 yrs
Maturity age: Max: 65 yrs.
Sum assured: Min. 50,000, Max. No Limit
S.A. in multiples: 5000
Term: Min.18 yrs, Max. 25 yrs
Mode of payment: YLY/HLY/QLY/SSS/MLY
Accident benefit: Re. 1extra per
(Max. 50 Lac inclusive 1000 S.A.
All plan)
Policy loan: yes
Housing loan: yes
Assignment: yes
Revival: yes
Surrender of policy: yes
Term rider: N.A.
CIR: N.A.
UNDERWRITING CONDITIONS
Form no.: 300
Age proof: std/ NSAP-1
Female lives category: I/II
Non-medical (Gen): Allowed
Non-medical (Prof): Allowed
Non-medical (special): Allowed
Actual sum assured: 1.5 times of SA
Risk coverage: SA & prem. Waived
Dating back @ 8%: Allowed
BENEFIT
Survival benefit: 25% S.A. during last 3 yrs. Before
maturity
Maturity benefit: on maturity balance 25% of S.A. +
Bonus on full S.A.+ FAB, if any.
Death benefit: S.A. is immediately paid to the
nominee. Future premiums are waived. Moreover, during
last 4 yrs. Of term 25% of S.A. is payable. In addition
bonus for full term + FAB, if any will be paid.
Example: Mr. Sachin Tendulkar aged 30 years, opts for
jeevan chhaya policy for S.A 2 Lac and term 18 years
with DAB. His daughter baby Tanya aged 5 years is nominee
and Mrs. Tendulkar meets with an accident, his wife
will get Rs.2 Lac on behalf of her daughter. Further
more at the end of 15th year, baby Tanya will receive
50,000/- (i.e. one further of S.A) again , at the and
of 16th and 17th year of the policy she will receive
Rs.50,00/- finally, at the end of 18th year she will
get Rs.50,000 + 1,62,000 = 2,12,000 (bonus as per bonus
rate of 2005 i.e. Rs.45 per thousand per annum)
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