Jeevan Akshay VII - (857)
Product Summary: Jeevan Akshay VII (857) is a Single Premium, Non Linked, Non Participating, Immediate annuity(pension scheme) plan.
Premium Payment Mode: Single Premium
Term: Single Premium with life long annuity benefits.
Minimum Age at Entry: 30 Years completed
Maximum Age at Entry: 100 Years (LBD) for option F and 85 Years (LBD) for all other options.
Premium paying term: Single premium
Minimum Purchase Price: 1,00,000 (other than Divyanjan where min purchase price is 50,000.
Maximum Purchase Price: No Limit
Riders Available Nil
Accidental Death and Disability Benefit (ADDB): Nil
On Death: Option A: Annuity stops on death. Option( B - E): Pension paid till the end of the guaranteed period. Option F : Entire purchase price paid back. Option H: 50% of annuity continued till the death of the second annuitant. Option I: 100% of annuity continued till the death of the second annuitant. Option J: 100% Pension continued for the life of second annuitant and full purchase price paid back on the death of the second annuitant.
On Survival: Annuity paid for life irrespective of the option.
Surrender Value: Surrender allowed 3 months after completion of the policy under options F and J.
Loan: Loan allowed 3 months after completion of the policy under options F and J.
Income Tax Benefit: Income Tax benefits not available.
Proposal Form Form No 440
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