New Jeevan Shanti (858)
Product Summary: New Jeevan Shanti (858) is a non-linked, non-participating, single premium deferred annuity plan. Policy holder can choose between Single Life or Joint life annuity and maximum deferment period allowed is 12 years.
Premium Payment Mode: Single premium only.
Annuity mode Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals.
Minimum Age at Entry: 30 Year completed
Maximum Age at Entry: 79 Years. (With maximum vesting age 80 Years)
Annuity Options Deferred annuity two options (1. Single Life 2. Joint Life).
Minimum Purchase Price: Rs. 1,50,000
Deferment Period 1 year to 12 Years
Joint annuity Close Relatives (Grand parents, Parents, Children, Grand Children, Spouse or Siblings.
Accidental Death and Disability Benefit (ADDB): Not available
On Death: Higher of (Purchase Price +Additional death benefit) or (105% of the purchase price)
On Survival: Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals.
Surrender Value: Surrender allowed any time during the term of the policy.
Loan: Loan available after 3 months from the date of completion of the policy.
Income Tax Benefit: Tax benefit on premium available u/s 80CCC of IT Act.
Proposal Form Special form for Jeevan Shanti. Form No 441
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