Jeevan Umang (945)
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).
Premium Payment Mode: Yearly, Half Yearly, Quartely, Monthly(SSS and NACH)
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) for PPT 15, 50 Years (nbd) for PPT 20, 45 Years (nbd) for PPT 25, 40 Years (nbd) for PPT 30.
Minimum age the end of Premium Paying Term 30 Years (Nearest Birth Day)
Minimum Sum Assured: Rs. 2,00,000
Riders Available AB/ADDB,Term Rider, Critical illness 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
On Survival: 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.
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 Form No 300 for major lives and Form No 360 for minor lives.
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