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Features of plan
This plan is suitable for those who want to provide
a big S.A. to protect their family in case of unfortunate
death. It is persons by marketing executive, sales representatives
and traveling person. It cannot be allowed for people
engaged in hazardous occupation. This plan is not allowed
to non-earning majors including students.
Besides the usual benefits offered by any endowment
insurance plan, this policy provides an additional insurance
cover equal to the S.A. in the event of a policyholder's
death during the term of the policy. In other words,
the death claim under this policy is twice the basic
S.A.
Plan parameters
Age Entry : Min. 18 yrs L0BD, Max. 50yrs
Maturity age: At entryMax.70 yrs.
in multiples:: Min. 50,000, Max. No Limit
Term: Min.15 yrs, Max.30 yrs
Mode of payment: YLY/HLY/QLY/SSS/MLY
Accident benefit: Re.1 extra per
(Max. 50Lacs 1000 S.A.
Inclusive all plan)
Policy lone: yes
Housing loan: yes
Assignment: yes
Revival: yes
Surrender of policy: N.A.
Term rider: N.A.
CIR: Yes
Under writing condition
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: Twice of SA
Risk coverage: SA+ bonus
Dating back@ 8%: Allowed
BENEFIT
Maturity benefit: S.A.+ bonus + FAB, if any
Death benefit: double the S.A. +bonus on the
basic SA+FAB, if any
Accident benefit: 3 time of the S.A.+ Bonus +
FAB, if any.
Example: Mr. Shekhar Suman, aged 40 invests Rs.2lac
in a annual premium. (T. No-88 with profit) for a term
of 20 years, He pays Rs.12332/- as annual premium. On
maturity he will get Rs.3,84,000/- [basic S. A . i.
e. Rs.2lac+ (accrued bonus i. e. Rs.46 per thousand
for 20lac years i.e. 46 x 200 x 20=1,84,000)].
In case he dies due to heart attack after 5 years his
nominee will get Rs.4,46,000 (2 time basic S. A. i.
e. 4,00,000 + bonus @ 46 per thousand per. As per bonus
rate of 2005 i.e. 46 x 200 x 5 = 46,000)
In case he dies to accident after 5 years his nominee
will get Rs.6,46,000/- (3 time basic S.A. i.e. 6,00,000
+ bonus @ 46 per thousand S.A. p.a. as per bonus rate
of 2005 i.e. 46 x 200 x 5 = 46,000.
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