Jeevan Saral

Jeevan Saral Plan 165 and Jeevan Saral Plan 185

Plan Details:

This plan is appropriate for employees seeking life cover through Salary Savings Schemes. This is an Endowment Assurance plan where the proposer has simply to choose the amount and mode of premium payment. The plan provides financial protection against death throughout the term of the plan. The death benefit is directly related to the premiums paid. The Maturity Sum Assured depends on the age at entry of the life to be assured and is payable on survival to the end of the policy term. It also offers the flexibility of term and a lot of liquidity.

Eligibility:

Minimum Age: 12 Yrs (completed) Maximum Age: 60 Nearest Birthday Term: Minimum 10, Maximum:35 Age at maturity: Maximum 70 years

Premium:

Minimum premium: Rs 250 per month for entry age upto 49 years and Rs.400 per month for entry age 50 years and above. The premium shall be in multiple of Rs.50 per month.
Premium Mode:Yearly, Half yearly, Quarterly and Monthly under Salary SavingScheme.

Survival Benefits: The sum payable at maturity however differs for different entry ages and terms. On Maturity the individual will receive maturity sum assured, plus Loyalty additions, if any.

Death Benefit: 250 times the monthly premium together with loyalty additions, if any, and return of premiums excluding first year premiums and extra/rider premium, if any, is payable in lump sum on death of the life assured during the term of the policy.

Maturity Benefit: The Maturity Sum Assured plus Loyalty additions, if any, is payable in a lump sum. Accidental Death and Disability Benefit

Supplementary/Extra Benefits: These are the optional benefits that can be added to your basic plan for extra protection/option. An additional premium is required to be paid for these benefits.

Surrender Value: Buying a life insurance contract is a long-term commitment. However, surrender values are available on earlier termination of the contract. The surrender value will be the greater of the guaranteed surrender value and special surrender. The plan also allows for partial surrenders.

Guaranteed Surrender Value: The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.